Anthem Biosciences Limited reports ₹594 crore Q2 FY27 revenue

Anthem Biosciences Limited reported consolidated revenue from operations of ₹594 crore for Q2 FY27, with EBITDA of ₹330 crore and an EBITDA margin of 50.6%, according to management’s November 4, 2026 earnings call. The quarter was led by ₹509 crore of revenue from the CRDMO business.

What did Anthem Biosciences report for Q2 FY27?

Anthem reported ₹594 crore of consolidated revenue from operations for the quarter ended September 30, 2026. Its contract research, development and manufacturing organisation, or CRDMO, business contributed ₹509 crore, while Specialty Ingredients generated ₹85 crore. This makes CRDMO the company’s larger reported business segment for the quarter.

EBITDA was ₹330 crore, translating into a 50.6% margin. Management said this EBITDA included other income of ₹59 crore, compared with ₹48 crore of other income in Q2 FY26. Profit before tax was ₹296 crore and profit after tax, or PAT, was ₹211 crore. Management cited a PAT margin of 32.04% on the call, while related earnings materials rounded the margin to 32.4%.

A related earnings summary reported that revenue from operations increased 7.9% year-on-year and EBITDA rose 24.1% year-on-year. It also stated that the EBITDA margin expanded by 610 basis points from the corresponding quarter of FY26. The company’s reported figures point to profit growth outpacing the rise in operating revenue during the quarter.

How did the Q2 FY27 earnings call and exchange filing unfold?

Anthem held its Q2 and H1 FY27 earnings conference call on November 4, 2026, after announcing unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026. The call ran for 59 minutes, from 12:31 PM to 1:30 PM IST, according to the event summary provided.

Ajay Bhardwaj, Managing Director and Chief Executive Officer, presented the key financial figures. He said the company expanded its EBITDA and PAT margins year-on-year through cost efficiencies, yield optimisation and workforce productivity. Management also said underlying demand remained strong.

The company subsequently informed the stock exchanges that it had submitted the transcript of the November 4 earnings conference call. The transcript was also made available on the company website. The exchange filing relating to the transcript did not add financial, operational or strategic details beyond the availability of the call record.

What do the half-year numbers show for Anthem Biosciences?

For H1 FY27, Anthem reported consolidated revenue from operations of ₹1,012 crore. CRDMO contributed ₹850 crore over the six-month period, while Specialty Ingredients contributed ₹162 crore. EBITDA stood at ₹506 crore, with a margin of 46.2%, and PAT was ₹331 crore with a PAT margin of 30.2%.

Other income included in H1 FY27 EBITDA was ₹84 crore, against ₹70 crore in H1 FY26. A related investor-relations summary said H1 FY27 revenue from operations was down 7.2% year-on-year, whereas EBITDA increased 5.3% and PAT rose 7.2%. The same material said the company intended to offset a first-quarter shortfall through catch-up in subsequent quarters while pursuing double-digit growth for the full year.

The company reported a net cash position of ₹1,534 crore as of September 30, 2026. This disclosure is relevant because it indicates the cash position available at the end of the reporting period, though the call extract did not specify any capital-allocation decision or investment plan tied to that balance.

Which markets and operations supported the quarter?

Anthem said approximately 84% of its revenue came from international markets, while India accounted for about 16%. Management said the domestic and international mix broadly resembled the contribution split across its CDMO and Specialty Ingredients operations. The call extract did not identify individual countries or customers.

The revenue mix highlights the importance of overseas business to Anthem’s reported performance. CRDMO revenue accounted for about 86% of Q2 revenue from operations based on the disclosed segment figures, with Specialty Ingredients contributing the balance. The company did not provide segment-level margins in the material supplied.

Management attributed the margin improvement to operating discipline rather than disclosing a separate one-time operational event. Cost efficiencies, yield optimisation and workforce productivity were the specific factors cited. Other income was also higher year-on-year, rising by ₹11 crore in Q2, and was included in the reported EBITDA figure.

Why do Anthem Biosciences’ margins matter to investors?

Anthem’s 50.6% Q2 EBITDA margin is the central financial feature of the reported quarter. The related earnings summary described it as the company’s highest EBITDA margin, while also reporting a 610-basis-point year-on-year expansion. A higher margin can indicate that profit increased faster than revenue, but the reported EBITDA also included ₹59 crore of other income.

For investors, the result should therefore be read alongside both operating revenue and the role of other income. Revenue from operations was ₹594 crore and PAT was ₹211 crore, while the company disclosed net cash of ₹1,534 crore at the half-year end. No stock-price movement, new customer win, capacity addition or revised financial guidance was disclosed in the supplied transcript and filing material.

The available materials also show the contrast between the quarter and the half year. Q2 revenue from operations was reported to have grown year-on-year, while the H1 summary indicated a year-on-year revenue decline following the first-quarter shortfall. Management’s stated plan is to achieve catch-up in later quarters, making subsequent revenue execution relevant to the full-year objective.

Conclusion

Anthem delivered ₹594 crore of Q2 FY27 revenue from operations, led by its ₹509 crore CRDMO business, and reported EBITDA of ₹330 crore at a 50.6% margin. PAT was ₹211 crore, while management linked year-on-year margin expansion to cost control, yield optimisation and workforce productivity. International markets remained the company’s main revenue source at roughly 84% of the total.

Investors will next watch whether revenue catch-up after the first-quarter shortfall supports management’s stated aim of double-digit FY27 growth. Further quarterly disclosures can clarify the durability of CRDMO demand, the contribution from Specialty Ingredients, and the extent to which margins continue to benefit from operating improvements and other income.