Sai Life Sciences is a Hyderabad-based CRDMO serving pharma and biotech innovators across discovery, development and manufacturing, reporting into a quarter where freight and energy costs escalated sharply on the Middle East conflict. The print will speak to whether the 28-30% EBITDA margin band holds against input-cost pressure with lagged customer cost recoveries, and whether capacity milestones due in September and October 2026 are on track to support the guided stronger H2.
| Results date | November 05, 2026 |
|---|---|
| Quarter | Q2 FY 2026-2027 |
| Previous quarter revenue | Rs. 554 Cr (+12% YoY) |
| Previous quarter PAT | Rs. 73 Cr (+22% YoY) |
| Previous quarter EBITDA margin | 27% (vs 25% in Q1 FY26) |
| Market cap | Rs. 33,092.63 Cr |
| CMP | Rs. 1,557.5 |
The board of Sai Life Sciences will meet on Thursday, November 05, 2026, to approve the unaudited standalone and consolidated financial results for Q2 and half-year ended September 30, 2026. The trading window for designated persons remained closed from October 1 to November 7, 2026 (48 hours post-results), per the letter dated September 28, 2026.
The Q2 FY27 earnings call is scheduled for Friday, November 6, 2026, 11:00 AM-12:00 PM IST, to discuss the unaudited standalone and consolidated results for the quarter and half-year ended September 30, 2026. Management representation is from Krishna Kanumuri (MD & CEO) and Siva Chittor (Whole-Time Director & CFO).
The quarter's central test is margin: the Middle East conflict escalated through the period, with Brent breaching $100/bbl on September 9 and US-bound container freight at roughly $10,000 versus about $1,500 pre-conflict, landing on a company whose Q1 FY27 EBITDA margin of 27% already sat below its 28-30% sustained target and which has cautioned that cost recoveries "may not always be contemporaneous with the cost increases".
A partial offset came from the rupee holding a weak 95-96.3 band against the dollar through the quarter, a translation tailwind on export-led INR revenue. On growth, Q1's 11.66% YoY revenue increase ran below the guided 15-20% CAGR corridor, with CDMO up only about 6% against CRO's +24%, so the print will be probed for CDMO re-acceleration from the three commercial-supply contracts (two "decently sized", primary supplier on two) and the process-development FTE negotiation targeted to close by end-Q2 with work commencing in Q3.
Management has guided H2 FY27 revenue stronger than H1, underpinned by the process R&D doubling and peptide facility due September 2026, OEB laboratories by October 2026, and Bidar's first 225 KL targeted for June. The call will also be watched for whether the 28-30% margin framing or the 15-20% growth horizon is re-qualified, and for any first framing of FY28 capex after the re-affirmed Rs. 1,100-1,300 Cr FY27 plan.
Guidance scorecard: Key guidance items management has on the table going into the print:
Sequential trajectory and the H2>H1 math
Capacity milestones falling due
Capex run-rate and leverage
Commercial ramp, FTE pipeline and cost revisions
FY28 capex guidance has not yet been provided and will be shared "at an appropriate time". The FY27 capex guidance of Rs. 1,100-1,300 Cr was re-affirmed on the Q1 FY27 call.
Management is aware of four molecules but declined to quantify potential revenue, citing client confidentiality and Phase 3 uncertainty. On revenue per product, management said "these would be a decently sized products".
The 28-30% EBITDA margin goal was achieved in FY26 at 30%, ahead of schedule, with management expecting to sustain the range. Q1 FY27 EBITDA margin came in at 27%, below the band.
In Q1 FY27 the mix was roughly CDMO 60% / CRO 40%, versus 65/35 in FY26 (CDMO Rs. 1,417 Cr, +33%; CRO Rs. 775 Cr, +24%). Management expects the mix to stay broadly between 65-35% and 60-40% over time.
Disclaimer: This earnings preview is published for educational and informational purposes only. It is not investment advice, not a recommendation to buy, sell or hold any security.