ANTHEM Q2 FY27 Guidance vs Delivery (ANTHEM Management Mirror)

H1 FY27 Revenue at Rs 1,012 Crores with Full-Year Double-Digit Growth Target Reaffirmed in Sep'26 Qtr

For Sep'26 Qtr, consolidated revenue from operations reached Rs 594 crores (CRDMO at Rs 509 crores, specialty ingredients at Rs 85 crores), while H1 FY27 revenue stood at Rs 1,012 crores. In the Jun'26 Qtr, despite a soft Q1 down ~25% YoY, management had guided for strong recovery in subsequent quarters to align with long-term historical double-digit growth. The Sep'26 Qtr outcome of significant sequential revenue ramp-up meets this recovery guidance, backed by scheduled customer delivery concentration. Looking ahead, management expects sequential catch-up across Q3 and Q4, reaffirming confidence in delivering historical double-digit revenue growth rates for full-year FY27. Specialty ingredients are structurally targeted to comprise around 20% of full-year sales to act as a buffer against CRDMO lumpiness, supported by high visibility with an order book covering 60% of full-year requirements.