Healthcare
Hikal Limited (hikal) Q1 FY27: Revenue Up 36%, PAT at ₹(6) Cr
Hikal Limited (HIKAL) announces Q1 FY27 earnings with ₹434 crore revenue, ₹45 crore EBITDA, and ₹(6) crore PAT.
Hikal Limited (HIKAL), a preferred long-term partner for leading global life sciences companies, announced its unaudited financial results for the quarter and year ended 30th September 2026. The company reported consolidated revenue of ₹434 crore, up 36% YoY, EBITDA of ₹45 crore, and PAT of ₹(6) crore compared to ₹(35) crore last year.
Pharmaceuticals Performance
The Pharmaceuticals business continued its recovery, driven by growth in the established API portfolio and new-product commercialization. Pharma revenue grew by 47% YoY to ₹278 crore in Q2 FY27, with improvement in EBIT margins. API volumes recovered, while CDMO programmes and the customer pipeline expanded across the US, Europe, and Japan.
Crop Protection Performance
Crop Protection revenues for the quarter stood at ₹156 crores, growing 21% YoY. Despite operating challenges, own product sales grew 11% YoY. Margins were impacted by elevated raw material and energy prices, Chinese competition, and deferred demand.
Looking Ahead
Hikal Limited is expected to improve in H2, supported by API recovery, CDMO pipeline conversion, and improved agrochemical CDMO demand. The company remains confident in its growth outlook in H2 versus last year and reiterates its full year guidance of mid teens growth in Revenue and a substantial improvement in profitability.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Hikal Limited
Hikal Limited belongs to the Healthcare › Drug Manufacturers – Specialty & Generic sector. Here’s a quick read on where the business and the stock stand today.
Hikal holds in the upper half of its 52-week range, a sign the market backs the stock. Razor-thin margins below 5% make profitability extremely vulnerable — this business needs scale or pricing power urgently. 4 loss quarters over five years is a serious red flag — earnings quality is poor and recovery is not guaranteed. The stock holds at 60% of its 52-week range with RSI at 48. In other words, neither side has a clear edge right now. The stock holds up despite -5.4% revenue growth and a PEG of 99.00. That could signal an early turnaround. Alternatively, index flows simply support the price. Watch whether analysts revise estimates upward — that is the real signal. Check Fundamentals of Hikal Limited.
ANTHEM
Anthem Biosciences Limited (NSE: Anthem) Q2 & H1 FY27 Results: Robust Performance and Margin Expansion
Anthem Biosciences Limited (NSE: ANTHEM) reports strong Q2 & H1 FY27 results with consolidated revenue up 7.2% and EBITDA margins at 50.6%.
Anthem Biosciences Limited (NSE: ANTHEM) has announced robust financial results for the second quarter and half year of FY27, showcasing significant growth and margin expansion. Consolidated revenue from operations for the quarter stood at ₹5,940 Mn, up 7.9% YoY, while EBITDA was ₹3,304 Mn, marking a 24.1% increase. The company’s profit after tax (PAT) for Q2FY27 was ₹2,115 Mn, reflecting a 21.9% rise compared to the same period last year.
Half-Year Financial Highlights
For the first half of FY27, Anthem Biosciences Limited reported consolidated revenue from operations of ₹10,123 Mn, a decrease of 7.2% YoY. However, the company’s EBITDA for H1 FY27 was ₹5,059 Mn, with margins at 46.2%. The PAT for H1 FY27 was ₹3,314 Mn, showing a 7.2% increase compared to H1 FY26.
Margin and Cost Efficiency
Anthem Biosciences Limited has demonstrated strong performance in maintaining and expanding its EBITDA and PAT margins. The company’s ability to sustain growth is attributed to strict discipline around cost efficiencies, yield optimization, and workforce productivity. This has further solidified its industry-leading margins, positioning the company well to sustain this performance throughout the year.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Anthem Biosciences Limited
Anthem Biosciences Limited belongs to the Healthcare › Biotechnology sector. Here’s a quick read on where the business and the stock stand today.
Anthem posts a 5.8% three-month gain, but softens in the last few weeks. The PEG stands at 5.22 — severely stretched. Any earnings miss could trigger a sharp de-rating. Industry-leading margins of 28.7% reflect exceptional pricing power and operational efficiency. The stock gives back 9.5% in the last month despite a positive three-month run. As a result, the earlier momentum appears to be fading. The business grows revenue at 26.2% and profits at 15.4%, with D/E of 0.00. The stock reflects that strength. Moreover, when fundamentals and price action align, the PEG of 5.22 premium is usually justified. Check Fundamentals of Anthem Biosciences Limited.
Healthcare
Global Health Limited (medanta) Reports Strong Q2 FY27 Results: Revenue Up 33.6%, PAT Surges 38.3%
Global Health Limited (MEDANTA) reports a 33.6% y-o-y revenue growth and a 38.3% surge in PAT for Q2 FY27.
Global Health Limited (NSE: MEDANTA), one of the largest private multi-specialty tertiary care providers in India, announced its unaudited consolidated financial results for the quarter and six-month period ending September 30, 2026. The company reported robust growth driven by significant bed additions and strong patient volumes. Notably, the company’s revenue from operations increased by 33.6% year-on-year to INR 14,690 million in Q2 FY27.
Key Financial Highlights
Operating EBITDA grew 60.2% year-on-year to INR 3,701 million with margins improving to 25.2% in Q2 FY27 compared to 21.0% in Q2 FY26. Profit after tax (PAT) stood at INR 2,191 million, up 38.3% year-on-year. The Noida hospital achieved EBITDA breakeven in Q2 FY27, within one year of commencing operations.
Operational Growth
The company added 74 new beds across the network during the quarter, with 49 beds added in Noida and 25 in Lucknow. The total census bed capacity stood at 3,115 in Q2 FY27 compared to 2,658 beds in Q2 FY26. In-patient count grew by 29.5% while out-patient count grew by 37.9% year-on-year. The occupancy rate increased to 67% compared to 64% in the same quarter last year.
Future Expansion Plans
Building on this momentum, the board approved the development of a 500-bedded super-specialty hospital in Ghaziabad, a market with strong demand for quality tertiary care. With this, the company plans to add over 3,450 beds across six greenfield projects to be executed over the next few years.
Commenting on the results, Mr. Pankaj Sahni, Group CEO and Director, said, ‘We are pleased to report strong growth in Q2 and H1 FY27, driven by robust patient volumes. We continue to deliver steady growth as we expand our bed capacity across multiple locations to meet India’s growing need for quality healthcare.’
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Global Health Limited
Global Health Limited belongs to the Healthcare › Medical Care Facilities sector. Here’s a quick read on where the business and the stock stand today.
Global moves sideways over three months, with neither buyers nor sellers taking control. The PEG reaches 3.08. The stock trades on brand and index weight, not on growth. The business compounds revenue at 17.2% and profits at 19.5% CAGR. That is strong double-digit growth on both counts. RSI stands at 29, well into oversold territory. Yet sellers still dominated on 21 of recent sessions versus 9 for buyers, so the pressure has not fully lifted. Revenue grows at 17.2% and the stock moves sideways over three months. Neither side makes a strong case. The next earnings print will likely break this stock out of its current range. Check Fundamentals of Global Health Limited.
Healthcare
Max India Limited Q2fy’27: Revenue Up 89% Yoy, Ebitda Loss Down 55% Yoy
Max India Limited (MAXIND) reports Q2FY’27 with revenue up 89% YoY, EBITDA loss down 55% YoY, and strong growth in Residences and Care Homes.
Max India Limited (MAXIND) has reported its financial performance for Q2FY’27, showcasing a significant revenue growth of 89% year-on-year (YoY) and a notable reduction in EBITDA loss by 55% YoY. The company’s strong performance is driven by its key segments, particularly in Residences for Seniors and Care Homes & AGEasy.
Residencies for Seniors
The Residences for Seniors segment has seen a remarkable revenue increase of 156% YoY and 35% quarter-on-quarter (QoQ). Notably, the Gurugram E360 project has achieved 100% unit sales within July 2025, and Noida Phase I handovers are underway. Sales collections for Q2FY’27 reached approximately Rs 212 crore, with E361 units selling at a velocity of 31 per month.
Care Homes & AGEasy
The Care Homes & Services revenue grew by 40% YoY and 6% QoQ, with a significant increase in occupied bed days and average revenue per occupied bed (ARPOB). AGEasy, focusing on senior-focused innovative products, reported a revenue of Rs 35 crore, marking a 1.7x YoY growth. The company has also received 8 NABH accreditations for its centres, reinforcing its position as a leader in the senior living sector.
Financial Performance
The consolidated EBITDA loss has been reduced by 55% YoY and 54% QoQ, indicating the emerging path to profitability. With a liquidity position of Rs 395 crore, Max India Limited is well-positioned to navigate future challenges and capitalize on growth opportunities.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Max India Limited
Max India Limited belongs to the Healthcare › Medical Care Facilities sector. Here’s a quick read on where the business and the stock stand today.
Max moves sideways over three months, with neither buyers nor sellers taking control. Industry-leading margins of 55.4% reflect exceptional pricing power and operational efficiency. 5 loss quarters over five years is a serious red flag — earnings quality is poor and recovery is not guaranteed. The stock gains 13.3% in the last month, recovering from the three-month slide. However, it is too early to call this a confirmed reversal. Price climbs recently despite -1.8% revenue growth and a PEG of 99.00. Consequently, either institutions position ahead of improvement or the move fades when earnings disappoint. Treat this as a trading signal, not an investment thesis. Check Fundamentals of Max India Limited.
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