Sai Parenterals Limited has released the transcript of its earnings conference call held on May 27, 2026, detailing its operational and financial performance for the quarter and year ended March 31, 2026. The company provided guidance for financial year 2027, targeting a revenue of ₹750 crore with an EBITDA margin of 17%, driven by the execution of long-term contracts and the integration of its Australian subsidiary, Noumed Pharmaceuticals.

Financial Performance for FY26

Financial year 2026 was a transformational period for the company, marked by the acquisition of Noumed Pharmaceuticals and a successful public listing. Consolidated revenue for FY26 stood at ₹381 crore, representing a growth of 133% over the previous year. EBITDA increased to ₹47 crore, registering a growth of 18%. The consolidated figures include approximately 4.5 months of contribution from Noumed Pharmaceuticals, following its acquisition on November 12, 2025.

In the fourth quarter of FY26, which reflects the full quarter of consolidation, revenue stood at ₹198 crore with an EBITDA of ₹29 crore, representing a 15% margin. Profit after tax (PAT) for the quarter was ₹13 crore, or 6.6% of revenue. On a standalone basis, Sai Parenterals reported revenues of about ₹162 crore, a growth of 30%, with a PAT of about ₹17 crore, reflecting a growth of 64% over FY25.

Strategic Outlook and Capex Plans

The company is currently executing a growth capital expenditure program totaling ₹440 crore. This includes ₹111 crore for capacity expansion and EU-GMP upgrades at manufacturing facilities in India, and ₹18 crore for a dedicated R&D center, both funded through IPO proceeds. The acquisition included an Adelaide manufacturing facility expansion project in Australia, involving a planned investment of AUD 53 million (₹311 crore). The project has received a grant of AUD 20 million from the Federal Australian Government, with AUD 40 million invested to date.

Management stated that these ongoing capex projects are not expected to contribute to FY27 financial performance, as facilities will be commissioned towards the end of the year. The full impact of these investments is anticipated to reflect in FY28, driving margin expansion and profitability through operating leverage and vertical integration benefits.

Operational Drivers and Guidance

The company's growth strategy is built on three pillars: a rapidly growing CDMO export business, the Australia and New Zealand platform through Noumed, and a branded formulation business. During FY26, the company secured approvals for 88 dossiers across regulated and emerging markets, while Noumed added five dossiers in Q4 FY26. Additionally, 67 dossiers are under development, expected to be commercialized in FY27 and FY28.

For FY27, the company expects debt levels to peak as capex programs are completed, with a debt-to-equity ratio of approximately 0.6 times. Management emphasized that the transition towards a CDMO business model is improving working capital efficiency, and the working capital cycle is expected to improve over the coming quarters as exports increase their contribution to revenue.

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Sai Parenterals Limited has secured purchase orders worth USD 11 million from PILL CORP Philippines for the supply of anti-TB products on an exclusivity basis. The contract, valued at ₹104.50 crore at an exchange rate of ₹95, will span a period of 10 years starting June 1, 2026. This long-term agreement is expected to significantly bolster the company's revenue stream through periodic purchase orders released during the contract term.

The disclosure was made to the exchanges under Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. The company confirmed that the order is from an international entity and that neither the promoter group nor group companies hold any interest in PILL CORP. Furthermore, the transaction does not qualify as a related party transaction.

The contract terms specify that the agreement is valid for ten years from the effective date. It includes provisions for revision or termination with six months' notice prior to expiry or extended expiry. The supply is specifically designated for the Philippines market.

Anil Kumar Karusala, Managing Director, signed the disclosure on behalf of Sai Parenterals Limited. The filing references SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.