Gujarat Themis Biosyn Reports Q2 Revenue Growth, Consolidated Loss

Gujarat Themis Biosyn Ltd reported Q2 FY27 consolidated revenue of ₹49.92 crore, up 17.9% year on year, but posted a consolidated net loss of ₹13.84 crore against a ₹14.27 crore profit a year earlier. The quarterly outcome matters because revenue growth coincided with a sharp divergence between the company’s standalone profit and consolidated result.

What did Gujarat Themis Biosyn report for Q2 FY27?

Gujarat Themis Biosyn Ltd approved its unaudited standalone and consolidated financial results for the quarter ended September 30, 2026, at a board meeting held on November 14, 2026. On a consolidated basis, revenue increased to ₹49.92 crore from ₹42.35 crore in Q2 FY26.

The company reported a consolidated net loss of ₹13.84 crore for the quarter, compared with a net profit of ₹14.27 crore in the corresponding quarter of the previous year. This represented a 196.99% year-on-year decline in reported net profit, reflecting the movement from profit to loss.

On a standalone basis, revenue rose 12.1% year on year to ₹47.46 crore. Standalone net profit fell 40.6% to ₹8.47 crore, compared with approximately ₹14 crore in Q2 FY26. The standalone figures show that the core reporting entity remained profitable, although earnings and margins declined from the prior-year level.

Why are the consolidated figures not directly comparable?

The consolidated numbers are not directly comparable with prior periods because they include MicroBiopharm Japan from September 18, 2026. The inclusion changed the composition of the consolidated financial statements during the quarter.

The reported consolidated result also included a ₹1.17 crore exceptional charge linked to an earthquake at a step-down subsidiary. The disclosed event was specifically identified as a factor in the consolidated loss for Q2 FY27.

These disclosures distinguish the consolidated outcome from the standalone performance. Standalone revenue and profit relate to Gujarat Themis Biosyn Ltd, while the consolidated accounts reflect the results and specific costs of entities included within the group structure.

How did standalone revenue, profit and margin change?

Gujarat Themis Biosyn’s standalone revenue rose to ₹47.46 crore in Q2 FY27 from about ₹42 crore a year earlier, while operating profitability weakened. EBITDA was reported at about ₹18 crore, down 15.4% year on year from about ₹21 crore.

The standalone EBITDA margin was 37.4%, compared with 49.5% in Q2 FY26. This was a year-on-year contraction of 12.1 percentage points. The margin was also lower than the 47.5% reported in Q1 FY27.

Profit before tax declined 41.1% year on year to about ₹11 crore. Earnings per share on the standalone basis fell to ₹0.72 from ₹1.31 in Q2 FY26, a decline of 45%. These movements indicate that the growth in revenue did not translate into a corresponding increase in quarterly profit.

What were the board and governance disclosures?

Gujarat Themis Biosyn stated that its auditors issued unmodified limited-review conclusions on the standalone and consolidated financial results. An unmodified conclusion means the auditors did not report a modification to their review conclusion in the disclosed results.

The company also disclosed that Vineet Gawankar, its Company Secretary and Compliance Officer, will resign with effect from November 30, 2026. The filing identifies both roles and the effective date, without providing further details in the supplied information.

The board meeting had originally been scheduled for November 4, 2026 and was moved to November 14, 2026 due to unavoidable circumstances. The rescheduling was disclosed under SEBI listing regulations before the results were approved.

What should investors track after the Q2 FY27 results?

The key issue for investors is the difference between Gujarat Themis Biosyn’s profitable standalone result and the group’s consolidated loss. Consolidated revenue growth was supported by the inclusion of MicroBiopharm Japan from September 18, but the company has said the resulting figures are not directly comparable with earlier periods.

The earthquake-related ₹1.17 crore exceptional charge is another disclosed item relevant to the consolidated result. The reported decline in standalone EBITDA margin, from 49.5% to 37.4%, is also material because it occurred despite the 12.1% increase in standalone revenue.

Gujarat Themis Biosyn has scheduled an Investor & Analyst Meet for November 16, 2026, at 4:00 pm at Sofitel, Bandra Kurla Complex, Mumbai, to discuss Q2 and H1 FY27 results. The physical meeting was rescheduled from November 5, 2026.

Conclusion

Gujarat Themis Biosyn delivered higher revenue in Q2 FY27 on both reporting bases, but its earnings profile weakened. Standalone profit declined to ₹8.47 crore amid lower operating margins, while the consolidated accounts recorded a ₹13.84 crore loss after incorporating MicroBiopharm Japan and an earthquake-related exceptional charge at a step-down subsidiary.

The next disclosed event is the Investor & Analyst Meet on November 16, 2026. Investors will watch for any additional information on the comparability of consolidated results following the inclusion of MicroBiopharm Japan, the effect of the exceptional charge, and the factors behind the decline in standalone margin.