IOL Chemicals & Pharmaceuticals LtdPharmaceuticals & HealthcareIOLCP
Q1 FY27 concall · earnings callIOL Chemicals & Pharmaceuticals Ltd
Strong Q1 growth driven by successful diversification beyond ibuprofen, with non-ibu APIs contributing 43% of pharma revenue and a 60.7% EBITDA increase.
Numbers
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Revenue | ₹756 Cr | 37% | |
| EBITDA | ₹111 Cr | 60.7% | |
| PAT | ₹64.5 Cr | 89.9% | |
| EBITDA Margin | 14.6% | — | |
| Export Contribution | 28.5% | — | |
| Non-Ibu Pharma Revenue | 43% | — |
Financials
From filed quarterly results. YoY and QoQ compare each metric on the same accounting basis.
| Quarter | Revenue | Net profit (PAT) | Basic EPS |
|---|---|---|---|
| Q3 FY25 | ₹523.30 Cr+0.6% YoY-0.5% QoQ | ₹20.53 Cr-11% YoY+7.2% QoQ | ₹3.50-10.9% YoY+7.4% QoQ |
| Q2 FY25 | ₹525.75 Cr-3.6% YoY+4.7% QoQ | ₹19.15 Cr-49.4% YoY-36.1% QoQ | ₹3.26-49.5% YoY-36.2% QoQ |
| Q1 FY25 | ₹502.38 Cr-10.8% YoY-0.3% QoQ | ₹29.97 Cr-34.6% YoY+8.5% QoQ | ₹5.11-34.6% YoY+8.5% QoQ |
| Q4 FY24 | ₹503.92 Cr-14.2% YoY-3.2% QoQ | ₹27.62 Cr-57.4% YoY+19.7% QoQ | ₹4.71-57.3% YoY+19.8% QoQ |
| Q3 FY24 | ₹520.39 Cr-0.6% YoY-4.6% QoQ | ₹23.08 Cr-3% YoY-39.1% QoQ | ₹3.93-3% YoY-39.1% QoQ |
TL;DR
- Revenue grew 37% YoY to INR756 Cr, EBITDA grew 60.7% to INR111 Cr.
- Non-ibuprofen API contribution increased to 43% of pharma revenue, growing 67% YoY.
- Export contribution increased to 28.5% of revenue, up from 24.4%.
- EBITDA margin improved to 14.6% from 12.4% due to higher capacity utilization, better mix, and operational efficiencies.
- Guidance for FY27 is 15-20% revenue growth with 14-15% EBITDA margin.
Said on the call
“Our strategic focus is increasingly on building IOL as a diversified and integrated API platform, with multiple products contributing to our growth.”
From the Q&A
| Topic | What management said |
|---|---|
| Paracetamol Outlook | Company operates paracetamol at 55% of enhanced 10,800 MTPA capacity, expects to reach 70% by year-end, with good demand and growing export traction. |
| Raw Material Prices | Prices for ethyl acetate and acetic anhydride spiked due to war but are now stable; the delta between raw material and product price is expected to remain constant. |
| Export Target | Management targets export contribution of 25-30% for FY27, and is hopeful of achieving it, noting current 28.5% Q1 performance. |
| EBITDA Margin Drivers | Higher EBITDA margin driven by capacity utilization, product mix, operational efficiencies, stronger non-ibu demand, and some finished product price improvements, not by one-time inventory gains. |
| Volume vs. Realization Growth | Pharma growth was 'mostly on capacity utilization' and operational efficiency, with increased export realization also a factor; specific volume/price split not shared. |
| Non-Ibu Portfolio Details | Non-ibu segment crossed INR200 crores quarterly run rate; ~20-21% of its revenue is from exports, mostly regulated markets; key products are paracetamol, clopidogrel, pantoprazole, metformin, fenofibrate. |
| Capex Allocation | Annual capex of ~INR200 Cr, with 60% for expansion/new products and 40% for infrastructure/improvements. |
| Gross Margin Sequential Change | Q4 had some inventory valuation benefit; Q1 saw input cost increases, but price pass-through to customers has now stabilized. |
Guidance
- FY27 revenue growth of 15% to 20%.
- FY27 EBITDA margin in the range of 14% to 15%.
- Export contribution of approximately 25% to 30% of revenue for FY27.
- Current plan for FY28 is ~15-20% top line growth and EBITDA margin of 15-17%, subject to scenario.
Source
Summary written from the transcript filed by IOL Chemicals & Pharmaceuticals Ltd for the call held on 13 Aug 2026; published 21 Aug 2026, 10:47 IST.
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