| Revenue growth | 8% Y-o-Y |
|---|---|
| Margins | EBITDA margin at 2.30% (+159 BPS Y-o-Y); gelatine capsules delivering healthy margins. |
| Demand visibility | Firm demand in capsules; erratic US HPMC environment. |
| Management confidence | Confident in sustained profitability for capsules; improved visibility for Q2FY27. |
Growth
Revenue grew 8% Y-o-Y to ₹48.71 Cr; PAT stood at a loss of ₹5.74 Cr. EBITDA rose 251% Y-o-Y.
Outlook
Converting two HPMC lines to gelatine; expecting first backward-integrated prednisolone batch by September 2026. PLI incentive of ~₹67 Cr over 6 years.
Risks
US HPMC demand remains erratic; geopolitical uncertainty and currency fluctuations impacting African export volumes via merchant exporters.
Last quarter's promises, checked
Delivered
- Guided Q4FY26 API sales start → Delivered Q4FY26 commencement (= BEAT)
- Guided HPMC line ready for qualification → Delivered ready for double zero (= BEAT)
Partly delivered
- Guided WHO GMP audit Q2FY27 → Delivered application initiated/audit expected (= PARTIAL)
- Guided Prednisolone commercial scale-up Q2/Q3 → Delivered synthesis at gram-scale (= PARTIAL)
Missed
- Guided FY27 HPMC revenue ₹20 Cr → Delivered Q1FY27 erratic demand (= MISS)
- Guided FY27 API revenue ₹70 Cr → Delivered Q1FY27 mixed picture/lower run-rate (= MISS)
Investor Presentation filed with BSE, NSE: NATCAPSUQ. Summary written with AI assistance from the document.
Natural Capsules Ltd: key numbers
- Share price
- ₹161.42
- Market cap
- ₹168.1 Cr
- Revenue (annual)
- ₹187.2 Cr
- Net profit (annual)
- ₹-24.66 Cr
- P/E (TTM)
- -7.8×Sector 47.3×
- Promoter holding
- 50.92%-0.12% QoQ
- FII holding
- 0.00%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Natural Capsules Ltd
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