27-Oct-2026 13:47:26
MOREPEN LABORATORIES Q2: CDMO REVENUE JUMPS TO ₹253 CR FROM ₹58 CR QOQ; ROCE IMPROVES TO 18.8%
• CDMO Revenue: Surged to ₹253 Cr in Q2 FY27 from ₹58 Cr in Q1 FY27; H1 revenue reached ₹311 Cr • Global CDMO Contract: ₹825 Cr international CDMO mandate now in regular commercial supply, supporting revenue growth • CDMO Contribution: Accounted for 52% of combined API and CDMO revenue in Q2 • ROCE: Improved to 18.8% (TTM) from 9.4% in FY26 • ROE: Increased to 13.6% (TTM) from 7.6% in FY26 • Working Capital: Receivable days reduced to 49 from 66 days, reflecting improved efficiency • Debt-to-Equity: Remained comfortable at 0.23x despite capacity expansion • API Business: Exports contributed approximately 76% of traditional API revenue • High-Value Products: New molecules' share of API revenue increased to 25% in H1 FY27 from 14% in H1 FY26 • Medical Devices: Revenue surged 65% YoY to ₹208 Cr in Q2; H1 revenue up 39% to ₹399 Cr • Manufacturing Expansion: API and CDMO capacity increased from 535 KL to 614 KL; further expansion towards 800 KL planned by Q2 FY28 • US Regulatory Filing: Submitted its first US ANDA for Sitagliptin Tablets USP, strengthening finished-dosage capabilities • Growth Outlook: Focus on scaling CDMO contracts, expanding high-value APIs and improving manufacturing capacity utilisation
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