IPCA Laboratories Limited (IPCALAB) Q2 FY27 Financial Results: Revenue ₹2,788 Cr

IPCA Laboratories reported strong Q1 FY27 growth with domestic formulation revenue up 13% to INR1,082 crores and export revenue up 34% to INR603 crores, driving consolidated EBITDA margin to 22.88%. Management revised FY27 growth guidance upward to 14-16% from 12-13% on robust generic and branded performance, while maintaining Unichem's 10% growth and 13% EBITDA margin outlook. Material costs rose 21% due to inflation and freight pressures, though cost controls reduced personnel and manufacturing expenses. Strategic CapEx of INR700-800 crores targets capacity expansion and biosimilars, with debt reduced to INR193 crores. Long-term EBITDA targets of 25% consolidated and 30% for IPCA specifically reflect scaling and biosimilar synergies, supported by R&D investment in 7 pipeline candidates.