Syngene International Ltd Q1 FY27 Results Analysis: Revenue Falls 15.8%, EBITDA Margin Halves

Syngene International Ltd reported Q1 FY27 numbers with revenue of Rs. 736.00 Cr (-15.80% YoY) and PAT growth of -110.40% YoY. Here's a quick read of what worked, what to watch, and what management said.

Quarter Snapshot

Syngene's Q1FY27 results were sharply negative: revenue fell 15.8% YoY, EBITDA margin halved to 12.3%, and the company reported a consolidated PAT loss. Large foreign exchange losses and fixed-cost deleverage overwhelmed the business. No forward guidance was provided, leaving the recovery path uncertain.

Key Investment Insights

Key Positives

• Other income rose 42.9% YoY to Rs.25.3 Cr.
• Subsidiary revenue was resilient, declining only 2.9% YoY compared to standalone decline of 17.1%.
• Total comprehensive income was Rs.26.3 Cr, better than the PAT loss due to positive OCI from foreign currency translation gains.

Risk Factors

• Revenue declined 15.8% YoY to Rs.736 Cr, with a sharp sequential drop of 29.0%.
• EBITDA margin collapsed 1,126 bps YoY to 12.3%.
• Consolidated PAT loss of Rs.9.0 Cr vs profit of Rs.86.7 Cr a year ago.
• Foreign exchange loss surged to Rs.50.1 Cr (6.8% of revenue) from Rs.4.8 Cr.
• Termination benefits of Rs.13.5 Cr booked as exceptional, adding to one-time charges.
• Subsidiary (US biologics site) swung from a PAT contribution of Rs.12.7 Cr to a drag of Rs.6.9 Cr.