Torrent Pharmaceuticals Limited booked more revenue but less profit in the quarter in which its merger with J.B. Chemicals & Pharmaceuticals Limited (JB Pharma) took effect, on 8 July 2026. Consolidated revenue from operations for the three months to 30 September 2026 (Q2 FY27) was Rs 4,979 crore, against Rs 3,302 crore in Q2 FY26, up 51% by the company's count; Q2 FY27 includes JB Pharma, which Torrent began consolidating on 21 January 2026, and Q2 FY26 does not. Consolidated net profit attributable to owners of the company fell to Rs 534 crore from Rs 591 crore.
- Consolidated revenue from operations4,979 Rs crore +51% vs Q2 FY26, which excl. JB Pharma
- Consolidated Op. EBITDA before exceptional items1,666 Rs crore +54% vs Q2 FY26, which excl. JB Pharma
- Consolidated net profit attributable to owners of the company534 Rs crore Rs 591 crore in Q2 FY26, excl. JB Pharma
- Consolidated net profit margin10.7 % from 17.9%; Q2 FY26 excl. JB Pharma
- Base business revenue (consolidated, ex JB)3,893 Rs crore +18% vs Q2 FY26
| Region | Base business | JB business | Total | Base growth | Reported growth |
|---|---|---|---|---|---|
| India | 2,181 | 680 | 2,861 | 20% | 57% |
| International | 1,585 | 406 | 1,991 | 18% | 48% |
| Others | 127 | - | 127 | -9% | -9% |
| Total | 3,893 | 1,086 | 4,979 | 18% | 51% |
Source: Torrent Pharmaceuticals, Q2 FY27 press release (NSE filing, 23 October 2026), Quarter ended 30 September 2026. Growth is year on year against Q2 FY26, as stated by the company.
JB businesses contributed Rs 1,086 crore of the Rs 4,979 crore consolidated revenue, and Torrent's base business Rs 3,893 crore, up 18% year on year, according to the company's press release.
Op. EBITDA before exceptional items, the company's own measure, rose 54% to Rs 1,666 crore, according to the release. Quarterly finance costs were Rs 300 crore against Rs 48 crore a year earlier, and depreciation and amortisation Rs 609 crore against Rs 204 crore. Consolidated net profit after tax, all attributable to owners of the company in both quarters, fell 9.6%, a net profit margin of 10.7% against 17.9%. Basic earnings per share were Rs 14.05, against Rs 17.45 in Q2 FY26.
- Gross margin75.4%−0.4 pp
- Op. EBITDA margin (before exceptional items)33.5%+0.7 pp
- Net profit margin10.7%−7.2 pp
Q2 FY27Q2 FY26
Source: Torrent Pharmaceuticals, Q2 FY27 press release (NSE filing, 23 October 2026), Quarter ended 30 September 2026.
Torrent says integrating the India business, optimising the global business network and aligning manufacturing and quality management systems after the merger temporarily affected revenue at JB in the quarter, according to the release. JB's India Rx business, which excludes trade generics and contrast media, grew 7% to Rs 597 crore. Its international business, covering the US, emerging markets and CDMO, fell 7% to Rs 406 crore.
In the base business, Brazil revenue rose 38% to Rs 440 crore, or 20% in constant currency to R$ 236 million. US revenue grew 24% to Rs 417 crore, with constant-currency revenue of US$ 44 million up 13%. Germany fell 7% to Rs 283 crore, or 13% in constant currency to EUR 26 million; the company points to supply disruption at a third-party supplier and the loss of some high-volume tenders.
- Torrent Pharmaceuticals Ltd, Q2 FY27 financial results and press release 'Torrent Pharma announces Q2 FY27 results' (NSE filing), 23 Oct 2026, 13:20 CEST