Emcure Pharma delivered a strong operational performance in the second quarter, highlighted by an adjusted profit after tax jump of 29.3% to Rs 325.1 crore. Management lifted its FY27 revenue projection from mid-teens to over 20%, citing robust domestic brand momentum and expanding international operations. Brokerages reacted positively, with Jefferies boosting its price target to Rs 2,500 after quarterly earnings beat estimates by up to 10%. The company also advanced its regulatory pipeline, which includes submitting the Lenacapavir injection dossier to global health authorities.
Key points
Jefferies raised its target price to Rs 2,500 after financial metrics surpassed its inter…: Jefferies raised its target price to Rs 2,500 after financial metrics surpassed its internal estimates by 7% to 10%.
International market expansion will be aided by releasing Amphotericin B across 20 Europe…: International market expansion will be aided by releasing Amphotericin B across 20 European nations and introducing Treprostinil.
The company strengthened its product portfolio by securing over 20 approvals across emerg…: The company strengthened its product portfolio by securing over 20 approvals across emerging and developed markets during the quarter.
Sources checked by our analysis pipeline: 1
The company reported a 29.3% year-on-year (YoY) increase in adjusted profit after tax (PAT) for the second quarter of FY27. The company's adjusted PAT rose to Rs 325.1 crore in Q2FY27, up from Rs 251.4 crore reported in the corresponding quarter of the previous financial year.
Revenue from operations increased 24.3% YoY to Rs 2,820.5 crore in the second quarter, from Rs 2,269.8 crore in Q2FY26. Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 30.9% YoY to Rs 574.8 crore, compared with Rs 439.1 crore in the year-ago quarter. EBITDA margin improved by 103 basis points to 20.4%, from 19.3% in Q2FY26.
What are analysts saying?
Jefferies raised the target price to Rs 2,500 from Rs 2,320, forecasting an upside of 33% from current market levels. It said the company delivered a 7-10% beat on its revenue/EBITDA/PAT estimates, driven by stronger growth across international markets. The management also raised FY27 guidance, expecting revenue growth over 20% from the earlier mid-teens forecast. EBITDA margin improvement of about 100 basis points from the previous margin guidance also bodes well for the…
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