Torrent Pharma announces Q2 FY27 results: Base India business revenues up 20%
Ahmedabad, 26 October 2026: Torrent Pharmaceuticals Limited announced its financial results for the second quarter of FY27.
Key Highlights for Q2 FY27:
- Revenue at Rs. 4,979 crores, up by 51% YoY
- Op. EBITDA* at Rs.1,666 crores, up by 54% YoY
- Op. EBITDA* margin at 33.5%; Gross Margin at 75.4%
- Net Profit after tax at Rs. 534 crores
*Before exceptional items
Quarterly Consolidated Financial Summary:
| Results | Q2 FY27 | Q2 FY26 | YoY % | ||
| Rs cr | % | Rs cr | % | ||
| Revenues | 4,979 | 3,302 | 50.8% | ||
| Gross profit | 3,755 | 75.4% | 2,502 | 75.8% | 50.1% |
| Op EBITDA* | 1,666 | 33.5% | 1,083 | 32.8% | 53.8% |
| Exceptional item | (10) | – | (13) | – | – |
| PAT | 534 | 10.7% | 591 | 17.9% | -9.6% |
| R&D spend** | 211 | 4.2% | 156 | 4.7% | 35.0% |
** R&D spend higher by 0.7% of revenues sequentially in Q2FY27 against Q1FY27
Base Business
Base revenues at Rs. 3,893 crores were up 18% driven by robust branded performance
India:
- India revenues at Rs. 2,181 crores were up 20% vs IPM growth of 12%, as per the PharmaTrac dataset.
- Torrent’s Gx Semaglutide recorded Q2 FY27 market share of 32% (oral and injectable combined), as per PharmaTrac Dataset.
- For H1 FY27, revenues were Rs. 4,338 crores, up by 19%.
Brazil:
- Brazil revenues at Rs. 440 crores were up 38%. Constant currency revenues at R$ 236 million were up by 20%.
- As per IQVIA, during the quarter, Torrent grew 26% vs market growth of 6%, aided by the performance of top brands and new launches. Torrent has 53 products under ANVISA review.
- For H1 FY27, revenues were Rs 717 crores, up by 34% (Constant currency revenue: R$ 383 million, up by 13%).
United States:
- US revenues at Rs. 417 crores were up 24%. Constant currency revenues at US$ 44 million were up by 13%.
- Performance is driven by new launches achieving targeted market share.
- For H1 FY27, revenues were Rs 835 crores, up by 29% (Constant currency revenue: $88 million up by 17%).
Germany:
- Germany revenues at Rs. 283 crores were down by 7%. Constant currency revenues at EUR 26 million were down by 13%.
- Growth continued to be impacted by supply disruption at a third-party supplier and loss of certain high volume tenders.
- For H1 FY27, revenues were Rs 601 crores, down by 2% (Constant currency revenue: EUR 55 million, down by 11%).
JB Business
Key Performance Metrics:
- India Rx business (ex of trade generics + contrast media) at Rs. 597 crores grew by 7%. For H1 FY27, revenues were Rs 1,252 crores, up by 10%.
- International business (US + Emerging Markets + CDMO) revenues at Rs. 406 crores were down by 7%. For H1 FY27, revenues were Rs 874 crores, up by 2%.
- Following the merger, effective 8 July 2026, integration of the India business, global business network optimisation, and alignment of manufacturing and quality management systems, resulted in a transient impact on revenues during Q2 FY27.
Consolidated Revenue Summary
| Region | Q2 FY27 (Rs. crore) | Q2 Growth (%) | |||
| Base | JB | Total | Base | Reported | |
| Business | Business | ||||
| India | 2,181 | 680 | 2,861 | 20% | 57% |
| International | 1,585 | 406 | 1,991 | 18% | 48% |
| Others | 127 | – | 127 | -9% | -9% |
| Total | 3,893 | 1,086 | 4,979 | 18% | 51% |
Half Yearly Consolidated Financial Summary
| Results | H1 FY27 | H1 FY26 | YoY % | ||
| Rs cr | % | Rs cr | % | ||
| Revenues | 9,900 | 6,480 | 52.8% | ||
| Gross profit | 7,513 | 75.9% | 4,906 | 75.7% | 53.1% |
| Op EBITDA* | 3,330 | 33.6% | 2,115 | 32.6% | 57.4% |
| Exceptional item | (31) | – | (13) | – | – |
| PAT | 1,100 | 11.1% | 1,139 | 17.6% | -3.4% |
| R&D spend | 383 | 3.9% | 313 | 4.8% | 22.4% |
(Disclaimer: The information provided here is investment advice only. Investing in the markets is subject to risks and please consult your advisor before investing)
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