Share Pledge Announcement

Senores Pharmaceuticals Limited has reported a significant corporate action. The promoter group of the company has pledged a portion of their shareholding.

Details of the Pledge

Impact and Implications

Share pledging by promoters can have various implications for a company and its shareholders:

1. It may indicate that the promoters are raising funds, potentially for personal use or for investing back into the company.
2. A high level of promoter pledging can be seen as a risk factor by some investors, as it may lead to volatility in the stock price if the pledged shares are invoked.
3. However, in this case, the pledged amount represents a relatively small portion of the company's total share capital.

Investor Considerations

Investors and market participants should consider the following:

• Monitor any further pledging activity by the promoter group.
• Keep an eye on the company's financial performance and any announcements regarding the use of funds, if applicable.
• Assess the overall promoter holding and the percentage of shares pledged to gauge potential risks.

Conclusion

While share pledging by promoters is a notable event, the current pledge represents a small percentage of Senores Pharmaceuticals' total share capital. Investors should continue to monitor the situation and consider this information alongside other fundamental and technical factors when making investment decisions regarding the company.

Senores Pharmaceuticals Limited has reported robust financial results for the second quarter of fiscal year 2026, with significant growth across key metrics and reaffirmation of its annual guidance.

Financial Highlights

• Consolidated income for Q2 FY26 stood at INR 162.00 crores, reflecting a strong year-over-year growth of 61%.
• EBITDA reached INR 50.00 crores, with margins improving to 31%, up 750 basis points year-over-year.
• Profit after tax (PAT) grew by 131% year-over-year to INR 30.00 crores.

Segment Performance

Regulated Markets

• Revenue from regulated markets grew by 87% year-over-year in Q2 FY26, reaching INR 107.00 crores.
• EBITDA margin in the regulated market stood at 44% for Q2 FY26.

Emerging Markets

• Revenue from emerging markets for the quarter stood at INR 32.00 crores, growing 9% sequentially.
• EBITDA margin in emerging markets was 6.6%, with expectations to reach early double-digits by the end of the fiscal year.

Domestic Branded Generics

• The branded generics business in India showed remarkable growth, with revenue increasing more than tenfold year-over-year to INR 12.00 crores in Q2 FY26.

Operational Highlights

• The company expanded its product portfolio to 81 products, with 8 new launches during the quarter.
• Senores received approvals for 86 new products in emerging markets, bringing the total portfolio to 394 registered products as of September 30, 2025.
• The company is on track to achieve PAN-India coverage for its branded generics segment by the end of FY26.

Cash Flow and Working Capital

• Operating cash flow improved significantly to INR 31.00 crores in H1 FY26, compared to INR 9.00 crores in the previous year.
• The company expects to maintain a working capital cycle of 90 to 100 days.

Future Outlook

• Senores has reaffirmed its guidance of at least 50% top-line growth and 100% PAT growth for FY26.
• The company expects its third manufacturing line at the US facility to be operational in Q3 FY26, expanding capacity from 1.2 billion to 2 billion units.
• Management anticipates a sustainable CAGR of 25-30% over the next 3-5 years, excluding potential contributions from planned sterile facilities.

Strategic Developments

• Senores has acquired a 51% interest in Zoraya Pharmaceuticals LLC, a US-based entity, to further vertically integrate its operations and launch strategic products under its own brand in the US market.
• The company is progressing with its API manufacturing facility, which is projected to receive US FDA approval in Q2 FY27, enhancing backward integration capabilities.

Swapnil Shah, Managing Director of Senores Pharmaceuticals, commented on the results: "We have delivered a healthy performance across segments in Q2 FY26. Our current business is undergoing a structural advancement, which will provide better market visibility and support the growth momentum for us over the medium to long term."

The company's focus on expanding its product portfolio, strategic acquisitions, and market penetration in both regulated and emerging markets appears to be yielding positive results. With ongoing capacity expansions and a robust pipeline of product registrations, Senores Pharmaceuticals is positioning itself for continued growth in the coming years.

Investors and analysts will be watching closely to see if the company can maintain its strong performance and achieve its ambitious growth targets in an increasingly competitive pharmaceutical landscape.