Shree Ganesh Remedies Q1FY27: a soft quarter, but the second half remains the test

In Q1FY27, revenue from operations was INR 14.36 crore, EBITDA (excluding other income and exceptional items) was INR 3.35 crore, and PAT was INR 1.12 crore, as per the presentation P&L summary.

Management attributed the weak quarter primarily to subdued European demand, customer order deferrals amid geopolitical uncertainty, and volatility in raw material markets, which impacted topline and profitability.

During Q1FY27, the marketing and manufacturing agreement with one EU distributor reached automatic termination due to non-performance under the commercial agreement, per management commentary.

Management stated the distributor transition may take a couple of quarters for meaningful volume restoration and expressed confidence of returning to prior run-rate levels in the second half of FY27.

Management said CRAMS engagements in South-East Asia are progressing and are anticipated to start contributing to revenues from H2FY27.

The presentation cites Block 7 commissioning in H1FY27 with projected capex around INR 20 crore, completion of Block 8 capex in FY25, and development of Dahej land acquired in 2022 (40,554 sq m; INR 11 crore outlay) for phased large-scale projects.

Promoter holding was 72.83% and public holding was 27.17%, as stated in the market statistics section.