Gujarat Terce returns to profit as September revenue rises

Gujarat Terce Laboratories Limited returned to a Rs 131.92 lakh profit for the quarter ended 30 September 2026, after a Rs 17.81 lakh loss in the June quarter, as revenue from operations rose to Rs 12.7771 crore from Rs 9.0024 crore. The result remained below the Rs 140.36 lakh profit recorded a year earlier.

How did Gujarat Terce perform in the September 2026 quarter?

Gujarat Terce reported total revenue of Rs 12.8835 crore in the quarter ended 30 September 2026, compared with Rs 9.4847 crore in the quarter ended 30 June 2026. Revenue from operations increased by Rs 3.7747 crore sequentially to Rs 12.7771 crore, while other income declined to Rs 10.64 lakh from Rs 48.23 lakh.

Profit before tax was Rs 1.6201 crore in September 2026, compared with a pre-tax loss of Rs 14.88 lakh in June 2026. Current tax of Rs 36.68 lakh and a deferred-tax credit of Rs 8.59 lakh resulted in profit from continuing operations of Rs 131.92 lakh. Total comprehensive income was also Rs 131.92 lakh because the statement reported no other comprehensive income for the quarter.

The sequential recovery did not exceed the year-earlier result. For the quarter ended 30 September 2025, Gujarat Terce reported total revenue of Rs 12.9815 crore and profit from continuing operations of Rs 140.36 lakh. September 2026 total revenue was therefore lower by Rs 9.80 lakh and profit was lower by Rs 8.44 lakh from the comparable prior-year quarter.

What changed in Gujarat Terce's September-quarter expenses?

Gujarat Terce's total expenses were Rs 11.2634 crore in the September 2026 quarter, up from Rs 9.6335 crore in June 2026 and Rs 11.1981 crore in September 2025. The Rs 1.6299 crore sequential rise in expenses was lower than the Rs 3.3988 crore increase in total revenue, producing profit before tax of Rs 1.6201 crore after the June-quarter loss.

Employee benefits expense was Rs 4.2646 crore, up from Rs 3.7264 crore in June 2026 and Rs 4.1660 crore a year earlier. Purchases of stock in trade rose to Rs 3.7301 crore from Rs 2.5613 crore in June and Rs 2.7478 crore in September 2025. Other expenses were Rs 2.7072 crore, compared with Rs 2.5439 crore sequentially.

Material consumed was Rs 16.67 lakh, compared with Rs 13.51 lakh in June 2026 and Rs 129.93 lakh in the year-earlier quarter. Changes in inventories of finished goods, work in progress and stock in trade were Rs 25.17 lakh, against Rs 52.87 lakh in June. The filing provides no product-level volume, price or customer information to explain the changes in these costs.

Finance costs were Rs 3.74 lakh in the September quarter, against Rs 3.24 lakh in June and Rs 6.50 lakh a year earlier. Depreciation and amortisation expense was Rs 10.57 lakh, unchanged from June 2026 and above Rs 9.62 lakh in September 2025. Gujarat Terce reported no exceptional or extraordinary items in the September 2026 quarter.

How did Gujarat Terce perform in the first half of 2026-27?

Gujarat Terce reported revenue from operations of Rs 21.7795 crore for the half year ended 30 September 2026, down from Rs 23.7799 crore in the half year ended 30 September 2025. Total revenue fell to Rs 22.3682 crore from Rs 23.9299 crore, although other income increased to Rs 58.87 lakh from Rs 15.00 lakh.

Profit from continuing operations for the half year was Rs 1.1411 crore, compared with Rs 1.3601 crore in the corresponding prior-year half. Profit before tax declined to Rs 1.4713 crore from Rs 1.7124 crore. The six-month outcome includes the Rs 17.81 lakh loss in the June quarter and the Rs 131.92 lakh September-quarter profit.

First-half expenses fell to Rs 20.8969 crore from Rs 22.2175 crore in the prior-year half. Purchases of stock in trade increased to Rs 6.2914 crore from Rs 5.3377 crore, while employee benefits expense rose to Rs 7.9910 crore from Rs 7.9146 crore. Material consumed declined to Rs 30.18 lakh from Rs 3.2831 crore, while other expenses were Rs 5.2511 crore against Rs 5.2593 crore.

Basic earnings per equity share were Rs 1.46 for the half year ended 30 September 2026, compared with Rs 1.83 in the corresponding 2025 half. For the September quarter, basic earnings per share were Rs 1.89, compared with a loss per share of Rs 0.23 in June 2026 and earnings per share of Rs 1.89 a year earlier. Diluted September-quarter earnings per share were Rs 1.69, against Rs 1.80 a year earlier.

What do Gujarat Terce's balance sheet and cash flow show?

Gujarat Terce's total assets were Rs 29.0551 crore at 30 September 2026, compared with Rs 24.5512 crore at 31 March 2026. Cash and cash equivalents declined to Rs 91.58 lakh from Rs 2.8598 crore, while current investments increased to Rs 6.1996 crore from Rs 1.3478 crore. Trade receivables rose to Rs 5.6122 crore from Rs 4.8666 crore.

Total equity was Rs 10.8692 crore at 30 September 2026, compared with Rs 9.7281 crore at 31 March 2026, including paid-up equity share capital of Rs 7.7913 crore at both dates. Current liabilities rose to Rs 14.3084 crore from Rs 10.9456 crore. Trade payables other than micro and small enterprise dues were Rs 6.3387 crore, compared with Rs 6.7286 crore at the March year-end.

Net cash flow from operating activities for the half year was Rs 3.9032 crore, compared with Rs 1.7147 crore for the year ended 31 March 2026. Gujarat Terce used Rs 4.5253 crore in investing activities, including Rs 4.8518 crore for purchases of current investments, and used Rs 1.3219 crore in financing activities. Consequently, cash and cash equivalents fell by Rs 1.9440 crore during the half year.

What does the filing say about Gujarat Terce's business and review?

Gujarat Terce operates in one pharmaceutical segment, according to the notes to the unaudited standalone results for the quarter and half year ended 30 September 2026. The filing does not provide separate revenue or profit figures by product, geography or operating division. Paid-up equity capital was Rs 7.7913 crore at 30 September 2026, compared with Rs 7.4203 crore a year earlier.

The board approved the unaudited standalone results on 5 November 2026 after an Audit Committee review. Shah Doshi Patel & Associates LLP performed the limited review required under Regulation 33 of the Securities and Exchange Board of India Listing Obligations and Disclosure Requirements Regulations, 2015. The reviewer said nothing had come to its attention to indicate a material misstatement or inadequate required disclosure.

The results were prepared under Indian Accounting Standards, or Ind AS, which Gujarat Terce said it adopted from 1 April 2017. The board meeting on 5 November 2026 began at 3:00 p.m. and concluded at 4:35 p.m. The filing identifies the reported numbers as standalone, rather than consolidated, financial results.

Conclusion

Gujarat Terce recorded a sequential turnaround in the quarter ended 30 September 2026, as revenue from operations rose by Rs 3.7747 crore from June and profit moved from a Rs 17.81 lakh loss to Rs 131.92 lakh. Yet both September-quarter profit and first-half profit of Rs 1.1411 crore remained below the corresponding 2025 periods.

The filing states no revenue target, expansion plan or earnings guidance beyond the results approved on 5 November 2026. The next reported result will show whether operating revenue can remain above Rs 12.7771 crore and whether the increase in stock-in-trade purchases to Rs 3.7301 crore continues alongside sales.