Anthem Biosciences

“We have further solidified our industry-leading margins and are well-positioned to sustain this performance for the whole year. Underlying demand continues to remain strong, and we are confident of our ability to sustain growth and create long-term value for all stakeholders.”

“if I look at our projections right now, we are assuming that the currency will be more or less range-bound itself. We will not be having a significant sort of a benefit from the currency growth.”

“I think from a sustainability point of view, we will deliver what we have delivered in FY26. So, that number is definitely sustainable. But I mean, we are already at a significantly high margins. So, I do not want to say that about a 50% number, but what we have delivered in the past is definitely possible.”

“Double- digit growth definitely we will try to deliver. Along with that, from a margin profile point of view, because of a superior margin profile, we are very confident on the EBITDA and PAT growth.”

“We have a lot of catch-up to do from our quarter one being low. So, quarter two, there has been some catch-up. Quarter three, there will be catch-up. Quarter four also, there will be catch-up.”

“Once our capex is approved by the board, then we will come back to the investor community and give the guidance. I do not want to give any guidance right now. But fair to assume that our numbers will, because the size is equivalent to our Phase 1, it will be in the similar range.”

“But please also note that next year we will also start our Unit four as well, March 2028 or so. Once Unit four comes in, that will also take some more time to ramp up.”

“One is that we will definitely ramp up our biologics manufacturing capability and also the drug product capability, which we are now adding.”

“This will be there in unit four for sure, is for oligonucleotides, because those are becoming very important and quite widespread in terms of the companies working on new projects with them.”

“See, it will take time because we will commission it. It will take time to get the approvals also in place. So, it is going to be a longer-term horizon to get to that level.”

“It's a setup that we are building, which is equivalent to our Unit 1, 2, and three put together in phase one itself.”

“We have set up capacities in the so-called new tech on peptides or on the oligonucleotides or on the high potent as well on the ADC side.”

“We are at a utilization level which is still not up to the optimum.”

“Our onco facility may need some more expansion as the projects become bigger.”

“Phase two will be, again, equal setup as Unit 1, 2, and 3, but that's going to be after Phase 1.”

“The CRDMO business delivered INR509 crores of revenue, supported by the Specialty Ingredients, which delivered INR85 crores revenue.”

“Peptides are being looked at for oncology, for immunology. So there is a lot of work happening in peptides, which is outside just the GLP-1 space.”

“So, in the medium term, obviously to execute their plans, they will need material, which Anthem will provide. So, I think these will make meaningful contributions in the next three to four years.”

“A few of them could be in this financial year itself, but we'll need to wait and watch how the outcome of the results are.”

“We've had a very nice quarter, so no, unsurprisingly, our Specialty Ingredients seem to be flat.”

“YES, certainly we are seeing a better inflow of queries, but this revival in biotech funding has been a mixed bag. I think, at the same time, there's been a lot of geopolitical uncertainty, which also puts people at.”

“The market potential for these is about $10 billion, in excess of what the estimates are, that their total sales would be in excess of $10 billion.”

“This is the way the market is shaping up, and we are very much hopeful that of over 100 projects that we have with biotechs, many of these will succeed, and then companies may get acquired.”

“We expect that there will be more molecules that will come out of the AI pipeline, but at the same time, which will mean there will be more work for us, because somebody has to productize these, somebody has to make the chemistry and make those powders that the scientists can work with, and that is where Anthem comes in.”

“Saion, difficult to answer this question because every molecule, new ones, different molecules have a different peak sales estimates, ranging from $1 billion- $4 billion, $5 billion, on an aggregate about $10 billion.”

“The EBITDA was INR330 crores, with EBITDA margins at 50.6%. EBITDA for Q2 FY27 includes other income of INR59 crores, whereas the corresponding figure for Q2 FY26 was INR48 crores.”

“EBITDA was INR506 crores, with EBITDA margins for the half year being 46.2%.”

“I would like to state that we expanded our EBITDA and PAT margins year-on-year by maintaining strict discipline around cost efficiencies, yield optimization, and workforce productivity.”

“yes, the reliance on the Chinese sourcing has reduced. We have completely gone in-house from a manufacturing point of view. So obviously, there is an increase in margins on account of that.”

“So the product mix also does play a role when it comes to the gross margin profile for the business.”

“The net cash position of the company as of September 30th, 2026, is INR1,534 crores.”

“The program was approved in this current quarter, Q2 FY27, because of which the number of commercial molecules have been now 15, and late-stage molecules 9.”

“If on current numbers on H1 basis, we would say that almost 75% or 75%-78% of our procurement is domestic procurement. China would be about 20%-21% of our procurement. So reliance has definitely come down.”

“Our patent expiry molecules are still, I think the first one is in 2032, so it's not over the immediate medium term as well.”

“Once they get acquired, then of course, big pharma always will get a second supplier, and they start looking around.”

“Traditionally, I mean, definitely there is a lot of headroom for growth in the commercialized molecules, because the patent expiry of the first one is in 2032. Some are even going as far as 2037, almost 2040.”

“We have been looking at developing a lot of captive vendors domestically who could help us in terms of supplying some of the starting materials as well.”

“First of all, we are pleased to report a robust performance for Q2 FY27, with consolidated revenue from operations going up to INR594 crores for the quarter.”

“PBT was INR296 crores, while PAT, that is profit after tax, was INR211 crores, with PAT margins at 32.04%.”

“Moving on for the half-year results, the consolidated revenue from operations was INR1,012 crores. The CRDMO business delivered INR850 crores, and Specialty Ingredients was INR162 crores of revenue.”

“Profit after tax, PAT, was INR331 crores, with PAT margins at 30.2% for the half year.”

“But when the project starts to move from early development into more mature programs, in those cases, we are almost always self-sufficient in having the enzymes backward integrated or doing all our own fermentation-based solutions.”