Sai Life Sciences’ profit rises 17% as revenue reaches Rs 658.585 crore

Sai Life Sciences Limited reported consolidated profit after tax of Rs 98.317 crore for the quarter ended 30 September 2026, up 17% from Rs 83.844 crore a year earlier, while revenue from operations increased 23% to Rs 658.585 crore. Profit before tax rose to Rs 131.28 crore despite higher employee, material and depreciation costs.

How did Sai Life Sciences perform in the September 2026 quarter?

Sai Life Sciences recorded Rs 658.585 crore of revenue from operations in the quarter ended 30 September 2026, compared with Rs 537.47 crore in the quarter ended 30 September 2025 and Rs 554.285 crore in the preceding quarter ended 30 June 2026. Total income reached Rs 662.554 crore, as other income declined to Rs 3.969 crore from Rs 15.325 crore a year earlier.

Profit before tax was Rs 131.28 crore, compared with Rs 112.051 crore in the year-earlier quarter and Rs 97.974 crore in the June 2026 quarter. Tax expense rose to Rs 32.963 crore from Rs 28.207 crore a year earlier, leaving profit after tax at Rs 98.317 crore. Basic earnings per share were Rs 4.63, against Rs 4.01 in September 2025 and Rs 3.46 in June 2026; the quarterly per-share figures were not annualised.

What drove Sai Life Sciences’ quarterly cost changes?

Sai Life Sciences’ total expenses increased to Rs 531.274 crore in the September 2026 quarter from Rs 440.744 crore a year earlier. Employee benefits expense rose by Rs 35.264 crore to Rs 198.057 crore, while materials, chemicals and reagents consumed increased by Rs 24.891 crore to Rs 170.074 crore. Depreciation and amortisation expense climbed to Rs 48.133 crore from Rs 39.748 crore.

Changes in inventories of work-in-progress were an expense of Rs 4.617 crore in the latest quarter, compared with a Rs 5.06 crore reduction in the corresponding quarter of 2025. Other expenses rose to Rs 99.452 crore from Rs 88.729 crore, while finance costs increased to Rs 10.941 crore from Rs 9.351 crore. These movements occurred alongside a Rs 121.115 crore year-on-year increase in revenue from operations.

How did Sai Life Sciences perform in the first half of 2026-27?

Sai Life Sciences reported first-half revenue from operations of Rs 1,212.87 crore for the six months ended 30 September 2026, compared with Rs 1,033.889 crore in the corresponding period of 2025. Profit after tax rose to Rs 171.602 crore from Rs 144.299 crore, and profit before tax increased to Rs 229.254 crore from Rs 192.799 crore.

The six-month increase in revenue was Rs 178.981 crore, while other income declined to Rs 7.512 crore from Rs 25.229 crore. Total expenses rose to Rs 991.128 crore from Rs 866.319 crore, including Rs 377.961 crore of employee benefits expense and Rs 347.925 crore of materials, chemicals and reagents consumed. Basic earnings per share increased to Rs 8.09 from Rs 6.91 for the prior corresponding period.

What do Sai Life Sciences’ cash flow and balance sheet show?

Sai Life Sciences generated net cash from operating activities of Rs 190.132 crore in the six months ended 30 September 2026, compared with Rs 92.835 crore in the corresponding period. Operating cash flow before working-capital changes was Rs 345.606 crore. Inventory increased by Rs 91.081 crore and other current assets increased by Rs 60.793 crore during the six months.

Investing activities used Rs 553.148 crore, against Rs 10.542 crore used a year earlier, principally because purchases of property, plant, equipment and intangible assets totalled Rs 561.287 crore. Financing activities generated Rs 312.097 crore, including Rs 308.316 crore of net proceeds from current borrowings and Rs 51.052 crore of proceeds from non-current borrowings. Cash and cash equivalents fell to Rs 30.92 crore at 30 September 2026 from Rs 81.914 crore at 31 March 2026.

Total assets rose to Rs 4,202.272 crore at 30 September 2026 from Rs 3,626.14 crore at 31 March 2026. Property, plant and equipment increased to Rs 1,740.585 crore from Rs 1,534.414 crore, while capital work-in-progress rose to Rs 559.601 crore from Rs 270.453 crore. Current borrowings increased to Rs 417.937 crore from Rs 74.621 crore, and total equity rose to Rs 2,688.056 crore from Rs 2,483.688 crore.

What businesses and entities are included in Sai Life Sciences’ results?

Sai Life Sciences operates in one reportable segment, Contract Research, Development and Manufacturing Services, abbreviated as CRDMO, and therefore did not provide separate segment disclosures under Indian Accounting Standard 108. The consolidated results for the quarter ended 30 September 2026 include the parent and three wholly owned subsidiaries: Sai Life Sciences Inc in the United States, Sai Life Sciences GmbH in Germany, and Sai Life Pharma Private Limited in India.

The board approved the unaudited consolidated results on 5 November 2026 after audit committee review. Deloitte Haskins & Sells LLP issued an unmodified limited-review conclusion. The auditor said two subsidiaries reviewed by other auditors contributed combined revenue of Rs 38.489 crore and profit after tax of Rs 2.292 crore in the September 2026 quarter.

Sai Life Sciences allotted 506,782 equity shares in the quarter ended 30 June 2026 and 132,200 shares in the quarter ended 30 September 2026 after eligible employees exercised stock options. The shares have a face value of Rs 1 each. Paid-up equity share capital was Rs 21.242 crore at 30 September 2026, compared with Rs 20.983 crore a year earlier.

Conclusion

Sai Life Sciences combined a 23% increase in September-quarter revenue with a 17% rise in consolidated profit after tax, while first-half revenue reached Rs 1,212.87 crore and first-half profit after tax reached Rs 171.602 crore. The increase in employee, material, depreciation and other expenses was accompanied by a Rs 36.455 crore year-on-year increase in first-half profit before tax.

The next reported period will show the cash and cost effects of the Rs 561.287 crore first-half investment in property, plant, equipment and intangible assets, as well as the increase in current borrowings to Rs 417.937 crore. Sai Life Sciences also said it will evaluate and account for any differential impact from further government clarification on the Labour Codes, after recognising Rs 8.001 crore as an exceptional item in the year ended 31 March 2026.