Gujarat Themis Biosyn Releases Q1 FY27 Earnings Call Transcript

Gujarat Themis Biosyn Limited (GTBL) has released the transcript of its Q1 FY27 earnings conference call, which was held on August 10, 2026. The call featured insights from Managing Director Dr. Sachin Patel and CFO Mr. Krupesh Patel, hosted by Mr. Hrishikesh Patole from 360 ONE Capital Market Private Limited.

Dr. Sachin Patel highlighted GTBL's transformation into a larger, more diversified, and innovation-driven pharmaceutical company. He emphasized the strategic focus on building capabilities for higher value opportunities across the pharmaceutical value chain, particularly in integrated fermentation-led pharmaceutical platforms. This includes expanding fermentation infrastructure, strengthening R&D, and creating downstream API manufacturing capacity. The company is pursuing organic growth complemented by inorganic expansion, including the planned acquisition of MicroBiopharm Japan (MBJ) for its precision fermentation and other advanced technologies, and the acquisition of 13 global brands from Sanofi France in the anti-TB and anti-infective segments. These moves aim to enhance capabilities in fermentation science, process development, and next-generation products, while broadening the commercial presence and therapy areas.

Mr. Krupesh Patel reported that for Q1 FY27, revenue from operations increased by 22.1% year-on-year to ₹43.8 crore, with EBITDA growing by 49.4% to ₹20.8 crore, resulting in an EBITDA margin of 47.5%. Profit after tax was ₹11.1 crore, a 22.1% increase from the previous year.

During the Q&A session, management addressed questions regarding the long gap since the last con call, the financial sense of the large acquisitions, delays in API block revenue, and the rationale behind withdrawing the merger scheme with Themis Medicare. They clarified that the MBJ acquisition provides access to commercialized technologies, with ADCs being a newer development. The company is prepared for shifts in the API market, such as from Rifampicin to Rifapentine, and is scaling up its new fermentation capacity. Regarding the Sanofi brand acquisition, manufacturing will initially involve CMOs, with a transition service agreement in place for three years, and plans for more aggressive marketing and distribution. The company also confirmed that most of MBJ's commercialized projects are off-patent but has a pipeline of new patented projects under development. The gross block has significantly increased from ₹62 crore in FY23 to ₹435 crore in FY26 due to new facilities. The company anticipates high-teen growth on a base case basis and aims to become a leading fermentation-based CDMO player, with significant investments in capacity and R&D over the past few years.