Anuh Pharma Q2 FY27 Profit Rises 47% Despite Flat Revenue

Anuh Pharma Ltd reported standalone profit after tax of ₹11.21 crore in Q2 FY27, a 47.31% year-on-year increase, even as revenue from operations declined 0.34% to ₹185.24 crore. The July-September quarter showed a marked improvement in profitability despite broadly unchanged sales.

What did Anuh Pharma report for Q2 FY27?

Anuh Pharma reported revenue from operations of ₹185.24 crore for the quarter ended September 30, 2026, compared with ₹185.88 crore in the corresponding quarter of the previous financial year. The small decline in revenue contrasts with a sharp rise in net profit to ₹11.21 crore from ₹7.61 crore a year earlier.

Operating profit reached ₹16.94 crore, compared with ₹11.88 crore in Q2 FY26, according to the reported quarterly financial highlights. The company’s operating margin was reported at 9.1%, against 6.4% in the year-ago quarter. This improvement in margin explains why profit growth was substantially higher than the movement in revenue.

The Board of Directors approved the unaudited standalone financial results on October 30, 2026. The results cover the quarter and half year ended September 30, 2026 and were approved following a limited review.

How did profit rise while revenue remained nearly unchanged?

Anuh Pharma’s profit increased because operating profitability improved even though revenue was marginally lower. Revenue from operations fell by ₹0.64 crore year on year, while operating profit increased by ₹5.06 crore and profit after tax increased by ₹3.60 crore.

The available results data show operating margin expanding from 6.4% to 9.1%, an increase of 2.8 percentage points on the rounded figures. A separate board-meeting summary placed EBITDA margin at 9.47% for Q2 FY27, compared with 6.92% a year earlier. Both disclosures point to stronger operating profitability in the quarter.

There were no exceptional items reported in the board-meeting highlights. As a result, the rise in quarterly profit reflects the reported improvement in operating performance rather than a disclosed exceptional gain.

How did the quarter compare with recent quarters?

Anuh Pharma’s revenue moderated sequentially in Q2 FY27. Revenue from operations was ₹193.8 crore in Q1 FY27 and ₹185.2 crore in Q2 FY27, while another results summary described the quarter-on-quarter revenue decline as 4.4%.

Operating profit, however, improved sequentially from ₹16.3 crore in Q1 FY27 to ₹16.9 crore in Q2 FY27. The operating margin moved up from 8.4% in Q1 FY27 to 9.1% in Q2 FY27. Profit after tax was ₹11.4 crore in Q1 FY27 and ₹11.2 crore in Q2 FY27, indicating a modest sequential decline in reported earnings.

For the first half of FY27, revenue was ₹379.05 crore and profit after tax was ₹22.64 crore. First-half profit after tax was higher than ₹15.91 crore reported in the comparable half of FY26. Profit before tax for the half year stood at ₹31.98 crore, compared with ₹20.87 crore a year earlier.

What is Anuh Pharma’s business context and reported segment?

Anuh Pharma identified Bulk Drug and Chemicals as its sole primary reportable segment under Ind AS 108. The quarterly result therefore reflects the performance of this core operating segment rather than a mix of separately reported business divisions.

The company’s recent quarterly revenue has ranged between ₹185.2 crore and ₹202.1 crore. Revenue was ₹197.2 crore in Q3 FY26, ₹202.1 crore in Q4 FY26, ₹193.8 crore in Q1 FY27 and ₹185.2 crore in Q2 FY27. Within that period, operating margin ranged from 8.4% to 9.8%, with Q2 FY27 at 9.1%.

Basic earnings per share was ₹1.12 in Q2 FY27, compared with ₹1.14 in Q1 FY27. The reported data also showed that H1 operating cash flow was negative, even as adjusted EBITDA margin improved year on year in both the quarter and the half year.

What does the result mean for investors and operations?

The Q2 outcome highlights a divergence between sales growth and earnings growth. Revenue was almost flat on a year-on-year basis, but the reported margin improvement lifted operating profit by 42.59% and net profit by 47.31%. For investors, the key reported change is therefore the higher profitability achieved on a similar revenue base.

At the same time, sequential revenue declined and quarterly profit after tax was slightly below the Q1 FY27 level. The reported negative operating cash flow for the first half is also relevant when assessing performance alongside accounting profit. The supplied results do not provide a reason for the cash-flow movement or a detailed reconciliation of cost changes.

The board-meeting disclosures also stated that Nina Vijay Shah withdrew her request for reclassification and would remain in the promoter group. This was disclosed alongside the financial results and does not change the reported quarterly operating figures.

Conclusion

Anuh Pharma’s Q2 FY27 results showed stronger profitability despite a 0.34% year-on-year decline in revenue from operations. Operating profit increased to ₹16.94 crore and profit after tax rose to ₹11.21 crore, supported by an improvement in the reported operating margin to 9.1%.

The next results update will indicate whether Anuh Pharma can maintain its improved operating margin while revenue trends remain subdued. Investors will also watch the company’s operating cash-flow position after the first half of FY27 was reported as negative.