Sai Life Sciences Q2 revenue rises 23%; EBITDA margin 28%

Sai Life Sciences Limited reported Rs 659 crore of revenue from operations in Q2 FY27, the second quarter of financial year 2027, up 23% from Rs 537 crore, while earnings before interest, tax, depreciation and amortisation (EBITDA) margin was 28% for the quarter ended September 2026. Its contract research organisation (CRO) and contract development and manufacturing organisation (CDMO) businesses grew.

How did Sai Life Sciences perform in Q2 FY27?

Sai Life Sciences increased revenue from operations by Rs 122 crore to Rs 659 crore in Q2 FY27, from Rs 537 crore in Q2 FY26. EBITDA rose 20% to Rs 187 crore from Rs 156 crore, while profit after tax (PAT) increased 17% to Rs 98 crore from Rs 84 crore.

Sai Life Sciences recorded a 28% EBITDA margin in Q2 FY27, one percentage point below the 29% reported in Q2 FY26. Its PAT margin was 15%, compared with 16% in the prior-year quarter, so reported profit rose in rupee terms while the margin percentage was lower.

Which businesses contributed to Sai Life Sciences' quarterly growth?

Sai Life Sciences said its Q2 FY27 performance was broad-based, with both CRO and CDMO operations delivering growth. The November 5, 2026 release did not disclose separate quarterly revenue or margin figures for CRO and CDMO.

Management attributed Q2 FY27 momentum to growing traction with global pharmaceutical companies and adoption of its integrated outsourcing model. Managing Director and Chief Executive Officer Krishna Kanumuri said customer work was moving from individual projects towards larger relationships covering discovery, development and manufacturing, although the release gave no count or value for those engagements.

Sai Life Sciences describes itself as a contract research, development and manufacturing organisation, or CRDMO, serving innovator pharmaceutical and biotechnology companies. Its stated services include discovery, process development, clinical manufacturing, commercial manufacturing and advanced technology platforms, linking its CRO and CDMO activities within an integrated model.

How did first-half FY27 compare with the previous year?

Sai Life Sciences reported first-half financial year 2027 (H1 FY27) revenue from operations of Rs 1,213 crore, an increase of 17% from Rs 1,034 crore in H1 FY26. EBITDA rose 19% to Rs 335 crore from Rs 281 crore, and PAT also rose 19% to Rs 172 crore from Rs 144 crore.

The first-half result showed EBITDA growth of 19%, ahead of the 17% revenue increase, while EBITDA margin was 28% against 27% in H1 FY26. PAT margin was unchanged at 14% in both half-year periods despite the Rs 28 crore increase in reported PAT.

The quarterly comparison differed from the half-year pattern. Q2 FY27 revenue growth of 23% was faster than the 17% H1 FY27 rate, but Q2 EBITDA margin was 28% versus 29% a year earlier; across the six-month period, the margin increased by one percentage point to 28%.

What is Sai Life Sciences investing in and expecting next?

Sai Life Sciences incurred capital expenditure of Rs 621 crore in H1 FY27 under its capacity and capability expansion programme. Chief Financial Officer Siva Chittor said the programme remained on track at the November 5, 2026 results announcement, though the release did not specify individual facility capacities or completion dates.

Management said it expects a stronger second half of FY27, supported by development and commercial pipeline progression and the ramp-up of new capacity. This is management's expectation rather than financial guidance, and Sai Life Sciences did not provide revenue, EBITDA, margin or PAT targets for H2 FY27.

Sai Life Sciences linked its expansion plan to supporting customers over the long term as pharmaceutical engagements extend across discovery, development and manufacturing. The Rs 621 crore spent in H1 FY27 is the disclosed measure of that programme, rather than a stated target for future revenue or production volumes.

When will Sai Life Sciences discuss its Q2 FY27 results?

Sai Life Sciences scheduled an earnings call for November 6, 2026, from 11:00 AM to 12:00 PM Indian Standard Time (IST), to discuss Q2 FY27 financial and business performance. The call follows the November 5, 2026 announcement of Rs 659 crore in quarterly revenue and a 28% EBITDA margin.

The filing states that the call will cover financial and business performance for the quarter. It provides aggregate H1 FY27 capital expenditure of Rs 621 crore, but no CRO or CDMO revenue split and no numerical H2 FY27 guidance.

Conclusion

Sai Life Sciences reported higher Q2 FY27 revenue, EBITDA and PAT, with revenue reaching Rs 659 crore and EBITDA reaching Rs 187 crore. The 23% quarterly revenue increase came with a 28% EBITDA margin, while H1 FY27 revenue rose 17% to Rs 1,213 crore and half-year EBITDA margin increased to 28% from 27%.

The next disclosed event is the November 6, 2026 earnings call, where management is scheduled to discuss the quarter's financial and business performance. The disclosed factors to watch are management's expectation of a stronger H2 FY27, the progression of development and commercial pipelines, and the ramp-up of capacity supported by Rs 621 crore of H1 FY27 capital expenditure.