Natural Capsules Limited reported a consolidated net loss of ₹24.66 crore for the financial year ended March 31, 2026, compared to a net profit of ₹0.62 crore in the previous year. The loss was primarily attributed to the API segment, which reported a loss before tax and interest of ₹31.33 crore, and pre-commercial costs at its subsidiary. For the quarter ended March 31, 2026, the company reported a net loss of ₹4.98 crore, while revenue from operations surged 55% to ₹58.45 crore, driven by the dispatch of deferred goods following the resumption of operations at the Puducherry plant. The company’s Board of Directors approved the audited financial results at a meeting held on May 27, 2026.

The standalone financial performance for the year shows a net profit of ₹11.21 crore, a 67.1% year-on-year increase. Revenue from operations rose 3.5% to ₹173.77 crore. Earnings per share (EPS) on a basic basis improved to ₹10.79 from ₹6.43 in the prior year.

Financial Performance (Consolidated)

Financial Performance (Standalone)

Operational Updates and Guidance

The Capsules segment remained profitable, reporting a profit before tax and interest of ₹20.82 crore. The company noted that the incremental HPMC line for double-zero capsules is ready, with revenue expected from the second half of FY27. On the API side, commercial sales commenced in Q4FY26. The subsidiary Natural Biogenex Private Limited executed agreements with Fermbox Bio Private Limited to utilise fermentation assets at the Tumkur facility, aiming to improve CDMO capabilities.

Management provided a revenue guidance of ₹274 crore for FY27, comprising ₹170 crore from gelatin capsules, ₹20 crore from HPMC capsules, ₹70 crore from API domestic sales, and ₹14 crore from the Fermbox contract. The company anticipates EBITDA margins of 18% for HPMC and 13% for gelatin capsules. Debt levels are expected to remain between ₹100 crore and ₹110 crore in FY27. The Board approved the re-appointment of Mr. Laxminarayan Moondra as Whole-Time Director for three years effective July 28, 2026, subject to shareholder approval.

Natural Biogenex Private Limited, a material subsidiary of Natural Capsules Limited , has approved a rights issue to raise capital through the issuance of equity shares. The board of Natural Biogenex Private Limited sanctioned the issuance of 11,11,200 equity shares with a face value of ₹10 each for cash at par. The total issue size aggregates to ₹1,11,12,000.

The approval was granted during a board meeting held on May 27, 2026. The intimation regarding this decision was submitted under Regulation 30(9) of the SEBI (LODR) Regulations, 2015. The filing was made to BSE Limited and the National Stock Exchange of India Limited to inform the exchanges about the corporate action undertaken by the material subsidiary.

Rights Issue Details

The rights issue involves the following key parameters:

The shares are being offered on a rights basis to eligible shareholders of the material subsidiary. The proceeds from the issue are intended to bolster the financial resources of Natural Biogenex Private Limited.