Acutaas Chemicals

“What we are saying that based on the customer's requirement of that particular product as well as the other customer, based on that, we are guiding that our CDMO revenue should get doubled in next 3 years’ time.”

“Please note this calculation does not include planned R&D CAPEX as well as the land acquisition.”

“As we just announced the CAPEX, it will take 1-1/2 year time to get CAPEX to get completed. So maybe by H1 FY '29, we should be starting the production.”

“So that is the reason we are already starting with our future plan and that is for land acquisition. Then, we will plan for the next round of CAPEX. That size and scale will decide based on that.”

“As we say, the capacity utilization is 30% only. So there is some room available, but we are not disclosing anything about, whether it is sufficing the production requirement or not.”

“I am happy to say that we have inaugurated our plant in South Korea ahead of schedule.”

“Yes, it should largely get filled up by FY '28.”

“On the generic side, several large products are going off pattern. We have already developed intermediates for those products long back.”

“A couple of these products, we have potentially to become a billion-dollar product for our innovative customers.”

“From industry point of view, demand continues to exceed supply. I am happy to say that this was our first quarter of commercial revenue from the Battery Chemicals business.”

“We will see a scale-up of third product in coming quarters. We have also sent pilot-scale validation batches of fourth product to the customers.”

“Overall, the start is very encouraging and I believe we will see a very strong ramp-up as we already have orders in our hands.”

“Demand environment remains robust and whatever cost pressures we face due to geopolitical issues, we have been able to pass them on successfully.”

“BFC is seeing strong order demand from its U.S. customers, as well as we have started receiving orders from Korean and Japanese customers.”

“Today, there is no, any demand for semiconductor chemical in India because they have not started.”

“And that is what we see that we are getting a traction in this product as well as for the next 3 years. And that is how we are giving the good guidance also.”

“And whatever the current mindset of China free is helping Indian chemical manufacturer on their own capacity to grab the opportunity which is available.”

“And with the kind of order books we have already in place for the H2 FY '27, we are confident to achieve this Rs. 1,000 crores mark with converting the good kind of margin for FY '27. That is the reason we have raised our margin guidance.”

“Related to operating leverage, obviously, as and when this revenue keeps on increasing within the same premises or the facility, the operating margin has to kick in.”

“The gross margin expanded by 637 basis point Y-o-Y to 62.1%. Gross margin was driven by higher contribution from pharma intermediate business compared to the same period last year.”

“EBITDA for the quarter was Rs. 1,760 million up 84.6% Y-o-Y. EBITDA margins were at 40.3% up 914 basis point Y-o-Y. EBITDA margin was driven by expansion in gross margin as well as operating leverage.”

“So right from beginning, we are saying that we have already signed long-term supply contract all in place. And based on that contract, we get the revised pricing based on some of the key raw material price movement as well as the exchange rate fluctuation.”

“Net cash and cash equivalents were around Rs. 3,009 million as on 30th September 2026.”

“Our working capital for the quarter stands at 115 days vis-a-vis 99 days in Q1 FY '27. This was driven by higher debtor days.”

“We are happy to share that we have received orders for new CDMO contracts which are expected to start contributing revenue from H2 FY '27.”

“During the last quarter, our U.S. customer was acquired by another U.S.-based company. This caused a temporary pause in the shipment. Supplies have now resumed and operations are back to normal.”

“Geopolitical issues are there, supply chain, logistic, operational, electricity, water, there are so many constraints that are always coming.”

“And like a semiconductor ecosystem is happening in India. If it is delayed, it will be delayed of implementation in India.”

“So sometimes you grab a lot of opportunity, but you cannot be able to grow all because of the competition as well.”

“Revenue from operations for the quarter reached Rs. 4,369 million representing 42.7% Y-o-Y.”

“PAT for the quarter was Rs. 1,231 million up 71.4% Y-o-Y.”

“So this is how our aim is that in 5 years, this would be not known as a pharma”

“Related to CDMO, first thing, we are not doing any generic work. We are doing all the CDMO projects with the originator only.”

“EBITDA for H1 FY '27 was Rs. 2,890 million up 97.7% Y-o-Y. EBITDA margins were at 37.7% up 922 basis point Y-o-Y.”