NEULANDLAB · Healthcare
Neuland Laboratories Ltd. reported revenue of ₹776 cr for January to March 2026, +136.6% on the year and +76.4% on the quarter. It is the highest quarterly revenue in the last 12 quarters on record. Over the last four quarters revenue comes to ₹2,023 cr, +37.0% on the four before.
Operating profit (EBITDA) was ₹307 cr, a margin of 39.6%, +2,401 bps on the year and +2,206 bps on the quarter. It is the widest margin of the last 8 quarters (range 11.6% to 39.6%). Operating costs grew +69.3% against revenue growth of +136.6%, so more of each rupee of sales reached operating profit.
Net profit was ₹213 cr, +660.7% on the year and +419.5% on the quarter, with earnings per share of ₹165.76. Profit before other income, one-offs and tax grew faster, at +759.4%; other income, one-offs or tax held the headline back. The tax rate of 26% is in line with its recent average. Profit over the last four quarters totals ₹365 cr, +39.8% on the four before.
On earnings per share of ₹283.70 over the last four quarters, the stock at ₹19,680.00 trades at 69.4 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Core profit grew faster than reported profit: one-offs held the headline down.
Reported profit +660.7% on the year; profit before other income, exceptional items and tax +759.4%.
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹418 cr | ₹393 cr | ₹385 cr | ₹440 cr | ₹311 cr | ₹398 cr | ₹328 cr | ₹293 cr | ₹514 cr | ₹440 cr | ₹776 cr | ₹642 cr |
| YoY | — | — | — | +21% | −26% | +1% | −15% | −33% | +65% | +11% | +137% | +119% |
| EBITDA margin | 32.8% | 30.8% | 27.8% | 28.0% | 19.9% | 21.9% | 15.5% | 11.6% | 30.4% | 17.5% | 39.6% | 34.7% |
| Other income, % of PBT | 2% | 2% | 5% | 19% | 8% | 47% | 18% | 44% | 2% | 15% | 4% | 4% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 27% | 22% | 27% | 25% | 34% | 20% | 29% | 21% | 25% | 26% | 26% | 25% |
| Net profit | ₹89.0 cr | ₹81.0 cr | ₹68.0 cr | ₹98.0 cr | ₹33.0 cr | ₹102 cr | ₹28.0 cr | ₹14.0 cr | ₹97.0 cr | ₹41.0 cr | ₹213 cr | ₹148 cr |
| YoY | — | — | — | +58% | −63% | +26% | −59% | −86% | +194% | −60% | +661% | +957% |
| Core profit YoY | — | — | — | +30% | −62% | −33% | −63% | −90% | +182% | −32% | +759% | +1,800% |
| EPS | ₹69.56 | ₹63.44 | ₹52.66 | ₹76.28 | ₹25.60 | ₹79.18 | ₹21.68 | ₹10.83 | ₹75.49 | ₹31.62 | ₹165.76 | ₹115.10 |
| Flags | · | · | · | 1 | 1 | 3 | 1 | 2 | ✓ | 1 | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Neuland Laboratories Ltd. reported revenue of ₹776 cr (+136.6% on the year) and net profit of ₹213 cr (+660.7% on the year) for January to March 2026.
Profit before other income, exceptional items and tax moved +759.4% on the year, against +660.7% for reported profit.
None of the 7 checks that could run raised a question.
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