NEULANDLAB Q2 FY27 Guidance vs Delivery (NEULANDLAB Management Mirror)

Peptide Module 1 Commissioned in H1 FY27, Meeting Sep'26 Target Guided in Jun'26 Qtr

In the Sep'26 Qtr concall, management reported the commissioning of its new peptide block (Module 1) at Unit 1 with an investment of approximately INR 250 crores. Previously, management guided in the Mar'26 Qtr that the facility would be operational by Jul'26, which was subsequently revised in the Jun'26 Qtr to a scheduled commissioning in Sep'26; the reported H1 FY27 commissioning meets this revised timeline. Looking ahead, management expects to generate validation batch (PPQ-related) revenues from this block within the next 6 to 9 months, with commercial supply agreements and revenues expected to materialize in roughly 1.5 to 2 years, while the configuration for Peptide Module 2 is being finalized over the next 3 to 6 months to be triggered as Module 1 gets occupied.