Concord Biotech Limited (CONCORDBIO)
₹1,339.00 -1.06% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Concord Biotech's revenue was ₹257 Cr (+26.2% year on year, -21.0% on the previous quarter), and net profit ₹57.7 Cr (+31.0% year on year); the operating margin was 32.0%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹257 | +26.2% | -21.0% |
| Operating profit | ₹82.4 | +34.2% | -30.2% |
| Net profit | ₹57.7 | +31.0% | -34.4% |
| EPS (₹) | 5.52 | +31.1% | -35.0% |
| Operating margin | 32.0% | — | — |
CONCORDBIO delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 55.41% of the CONCORDBIO shares traded on NSE were taken to delivery, against the stock's own 20-session average of 46.93%. That is close to its usual level. Volume was 0.3 times its average, well below normal.
Delivery in the last 5 sessions: 53.2% · 49.1% · 57.0% · 45.7% · 55.4%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Concord Biotech Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate was issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited on October 03, 2026, for the quarter ended September 30, 2026. The RTA confirmed that securities received for dematerialisation were processed and listed on the respective stock exchanges within prescribed timelines. This is a standard quarterly administrative filing with no financial impact.
- Regulation 74(5) certificate submitted for the quarter ended September 30, 2026
- Certificate issued by RTA MUFG Intime India Private Limited dated October 03, 2026
- Formal filing submitted to NSE and BSE on October 07, 2026
- Confirms that dematerialisation requests received during the period were processed and confirmed
Concord Biotech Limited has issued a Postal Ballot Notice seeking shareholder approval for a 1:1 bonus equity share issue and an increase in its authorized share capital. The bonus issue involves capitalizing up to ₹10,46,16,204 from the securities premium account to issue 10,46,16,204 new equity shares of ₹1 each. Concurrently, the company proposes doubling its authorized share capital from ₹11.00 crore to ₹22.00 crore. Remote e-voting commences on September 25, 2026, and concludes on October 24, 2026.
- Bonus issue ratio proposed at 1:1 (1 bonus share of face value ₹1 for every 1 fully paid-up share held)
- Capitalization of up to ₹10,46,16,204 out of the securities premium account
- Increase in authorized share capital from ₹11,00,00,000 to ₹22,00,00,000
- Remote e-voting window open from September 25, 2026 to October 24, 2026 with cut-off date of September 18, 2026
- Bonus issue to be implemented within 2 months from the September 23, 2026 board approval date
Concord Biotech's Board of Directors has approved a 1:1 bonus issue, granting 1 bonus equity share of Rs 1 each for every 1 existing share held. The issue will capitalize Rs 10.46 crore from the share premium account, which stood at Rs 81.97 crore as of March 31, 2026. Consequently, total paid-up equity shares will double from 10,46,16,204 to 20,92,32,408. The company also increased its authorized share capital from Rs 11 crore to Rs 22 crore, with bonus shares slated for dispatch by November 22, 2026, subject to shareholder approval.
- Approved bonus issue in the ratio of 1:1 (1 bonus share for every 1 share held)
- Paid-up share capital doubles from Rs 10,46,16,204 to Rs 20,92,32,408
- Requires capitalization of Rs 10.46 crore against available share premium of Rs 81.97 crore
- Authorized share capital doubled from Rs 11 crore to Rs 22 crore
- Estimated dispatch/credit of bonus shares scheduled by November 22, 2026
The USFDA has concluded an inspection at Concord Biotech's formulation facility (Unit II) located in Valthera, Gujarat, on September 18, 2026. The inspection resulted in only 1 minor procedural observation that is not related to Good Manufacturing Practice (GMP). Management expects zero material impact on current business operations or existing supplies from the facility. The company plans to submit a comprehensive response to the USFDA within the stipulated regulatory timeline.
- Inspection concluded on September 18, 2026, at Unit II Valthera formulation facility
- Issued 1 minor observation, procedural in nature and not related to GMP
- No material impact expected on current business operations or existing facility supplies
- Company to submit a comprehensive response within the stipulated timeline
Concord Biotech has announced a scheduled analyst and institutional investor group meeting on September 23, 2026, at 12:30 PM in Ahmedabad. The meeting is organized as part of the JP Morgan Healthcare Trip. The company confirmed that discussions will rely solely on publicly available information and no unpublished price-sensitive information (UPSI) will be shared.
- Meeting scheduled for September 23, 2026, at 12:30 PM
- Organized by JP Morgan Healthcare Trip as a Group Meeting in Ahmedabad
- No unpublished price sensitive information (UPSI) to be discussed
Concord Biotech Limited has informed the exchanges regarding a scheduled analyst/investor meeting. Company officials will participate in a group meeting organized by Phillip Capital PCG on August 26, 2026, from 1:00 PM to 3:00 PM IST in Ahmedabad. The company stated that discussions will be based solely on publicly available information and no unpublished price sensitive information (UPSI) will be shared.
- Investor meeting scheduled for August 26, 2026, between 1:00 PM and 3:00 PM IST
- Organized by Phillip Capital PCG as a group meeting in Ahmedabad
- No unpublished price sensitive information (UPSI) will be shared during discussions
Concord Biotech reported a strong recovery in Q1 FY27 with revenues reaching ₹257 cr, a 26.2% YoY increase compared to ₹204 cr in Q1 FY26. The growth was primarily driven by the API segment, which grew 42% YoY to ₹219 cr, and a robust 46% surge in export revenues. Management has set an ambitious long-term target to reach ₹2,200 cr in API revenue over the next 5-6 years, more than doubling its current TTM revenue of ₹1,055 cr. The company is focusing on scaling its new injectable facility and its US front-end platform, Stellon Biotech, to sustain a 25% CAGR.
- Q1 FY27 revenue grew 26.2% YoY to ₹257 cr, recovering from a challenging FY26.
- API segment revenue increased 42% YoY to ₹219 cr, while export revenues grew 46% YoY.
- Management targets API revenue of ₹2,200 cr in 5-6 years, compared to the current TTM revenue of ₹1,055 cr.
- Unit 1 capacity utilization is at 78%, while Unit 2 stands at 55% with room for product-mix optimization.
- Received US FDA approvals for Mycophenolate Mofetil and Tofacitinib tablets during the quarter.
Concord Biotech has released the audio recording of its Q1 FY27 earnings call conducted on August 03, 2026. The discussion focused on the company's performance for the quarter ended June 30, 2026, and its strategic roadmap to achieve a 25% CAGR. Key focus areas include the utilization of the new injectable facility commissioned in March 2025 and navigating regulatory delays from CDSCO. The company currently holds a market cap of Rs 14,802 Cr with a TTM revenue of Rs 1,055 Cr.
- Earnings call conducted on August 03, 2026, at 3:30 PM IST following Q1 FY27 results.
- Management reiterated a 25% CAGR growth target driven by capacity ramp-up.
- New injectable facility commissioned in March 2025 is a primary driver for future revenue growth.
- Company reported a TTM Operating Profit Margin of 35.1% on a revenue base of Rs 1,055 Cr.
- Discussion included mitigation strategies for CDSCO renewal delays and geopolitical impacts.
Concord Biotech reported a strong start to FY27 with Q1 revenue growing 26.2% YoY to ₹257.5 cr, primarily driven by a 46% surge in export revenue. EBITDA margins expanded by 190 bps to 32.0%, while core EBITDA margins (excluding new facility startup costs) remained robust at 37%. The company achieved significant regulatory milestones, including USFDA approvals for two ANDAs and successful inspections by ANVISA (Brazil). However, the formulation segment saw a 23% YoY decline, contrasting with the 42% growth in the API business.
- Revenue from operations grew 26.2% YoY to ₹257.5 cr in Q1 FY27.
- Export revenue increased by 46% YoY to ₹121.7 cr, now representing ~47% of total revenue.
- EBITDA increased 34.2% YoY to ₹82.4 cr with margins improving to 32.0%.
- API segment revenue grew 42% YoY to ₹218.9 cr, while Formulations declined 23% to ₹38.6 cr.
- Customer concentration improved with Top 10 customers contributing 37.6% in FY26 vs 47.7% in FY22.
Concord Biotech Limited successfully passed all six resolutions at its 41st Annual General Meeting held on July 31, 2026. Key approvals include the adoption of FY26 financial statements, dividend declaration, and the appointment of Mrs. Ekta Gupta as an Independent Director. A significant special resolution was passed to enhance limits for loans and guarantees to subsidiaries, although it faced 56.6% opposition from institutional voters. The company continues to target a 25% CAGR driven by its new injectable facility.
- All 6 resolutions passed with the requisite majority during the meeting held on July 31, 2026
- Resolution for enhanced loan/guarantee limits to subsidiaries passed with 81.64% total votes in favour
- Institutional investors showed significant dissent on subsidiary funding, with 56.6% of their votes cast against Resolution 5
- Dividend declaration approved with near-unanimous support of 99.98% of total votes polled
- Total of 83,770 shareholders were on record as of the July 24, 2026 record date
Concord Biotech Limited held its 41st Annual General Meeting (AGM) on July 31, 2026, via video conferencing. The Chairman addressed the 38 members in attendance, providing an overview of the company's FY26 performance, which recorded a TTM revenue of ₹1,055 crore and a PAT of ₹263 crore. The management responded to shareholder queries regarding operations and future prospects, particularly focusing on the scale-up of the new injectable facility. Notably, the Statutory and Secretarial Audit Reports contained no qualifications or adverse remarks.
- 41st Annual General Meeting successfully conducted on July 31, 2026, with 38 members present.
- Management discussed FY26 financial performance, including TTM revenue of ₹1,055 crore and OPM of 35.1%.
- Statutory and Secretarial Audit Reports were confirmed to have zero qualifications or adverse remarks.
- Voting results for the proposed resolutions are expected to be declared within 2 working days.
- Meeting duration was approximately 38 minutes, concluding at 12:38 PM IST.
Concord Biotech reported a strong year-on-year performance for Q1 FY27, with consolidated revenue rising 26.2% to ₹257.49 Cr compared to ₹203.99 Cr in Q1 FY26. Net profit grew 38.9% YoY to ₹61.22 Cr, reflecting improved operational efficiency in its niche fermentation API business. While YoY growth is robust, the company saw a sequential (QoQ) decline in revenue and profit by 21% and 30% respectively from the March 2026 quarter. The company also finalized the acquisition of Celliimune Biotech Private Limited on April 02, 2026.
- Revenue from operations increased 26.2% YoY to ₹257.49 Cr from ₹203.99 Cr.
- Consolidated Net Profit rose 38.9% YoY to ₹61.22 Cr against ₹44.06 Cr in the previous year.
- Earnings Per Share (EPS) improved to ₹5.85 from ₹4.07 in the corresponding quarter last year.
- Total expenses for the quarter stood at ₹18,849.49 lakhs, up from ₹15,884.08 lakhs YoY.
- Acquisition of Celliimune Biotech Private Limited completed on April 02, 2026, making it a wholly-owned subsidiary.
Concord Biotech has scheduled its earnings conference call for August 03, 2026, at 3:30 PM IST to discuss financial results for the quarter ended June 30, 2026. The management, including the CMD and CEO, will discuss the company's business strategy and outlook. This follows a TTM revenue performance of Rs 1,055 Cr and a PAT of Rs 263 Cr. Investors will be looking for updates on the 25% CAGR growth target and the ramp-up of the new injectable facility commissioned in March 2025.
- Earnings call scheduled for August 03, 2026, at 3:30 PM IST.
- Management participants include Mr. Sudhir Vaid (CMD), Mr. Ankur Vaid (CEO), and Mr. Raviraj Karia (CFO).
- The call will cover unaudited Standalone and Consolidated results for the quarter ended June 30, 2026.
- TTM Revenue stands at Rs 1,055 Cr with an Operating Profit Margin of 35.1%.
- The company is targeting a 25% CAGR driven by its new injectable facility and fermentation platform.
Concord Biotech Limited has announced July 24, 2026, as the record date for determining shareholder eligibility for the final dividend of FY 2025-26. The 41st Annual General Meeting (AGM) is scheduled for July 31, 2026, where the dividend will be put to a vote. If approved, the dividend will be distributed to shareholders by August 30, 2026. This follows a fiscal year where the company maintained a strong TTM operating margin of 35.1% and a PAT of ₹263 Cr.
- Record date for final dividend eligibility fixed for July 24, 2026
- 41st Annual General Meeting scheduled for July 31, 2026, at 12:00 Noon
- Dividend payment to be completed by August 30, 2026, subject to shareholder approval
- Book closure period set from July 25, 2026, to July 31, 2026
- Company reported TTM revenue of ₹1,055 Cr with a zero debt-to-equity ratio
Concord Biotech has scheduled its 41st AGM for July 31, 2026, proposing a final dividend of ₹7.55 per share (755% of face value) for FY26. A significant special resolution seeks approval to enhance limits for loans, guarantees, and securities to subsidiaries and associates up to ₹500 Crores. This limit represents approximately 24.7% of the company's current net worth of ₹2,019 Cr. The record date for dividend eligibility and voting has been fixed for July 24, 2026.
- Proposed final dividend of ₹7.55 per equity share for the financial year ended March 31, 2026.
- Special resolution to increase loan and guarantee limits to subsidiaries/associates to ₹500 Crores.
- Record date for dividend and AGM voting eligibility set for July 24, 2026.
- Appointment of Mrs. Ekta Gupta as an Independent Director for a 5-year term effective June 1, 2026.
- Ratification of Cost Auditor remuneration at ₹3,70,000 plus taxes for FY 2026-27.
Financial Performance
Revenue Growth by Segment
Revenue for Q2 FY26 was INR 247 Cr, representing a 20% YoY decline but a 21% QoQ growth. H1 FY26 revenue stood at INR 451 Cr. While specific percentage splits for APIs vs. Injectables were not disclosed, management noted that injectable revenues are currently building up following the March 2025 commissioning.
Geographic Revenue Split
Geographic split includes India, Emerging Markets (EMs), and the US. Subdued Q2 performance was specifically linked to a deferment of a government tender in the Middle East and a shift in procurement patterns from US customers due to tariff uncertainties.
Profitability Margins
Gross margins expanded by 480 basis points YoY in Q2 FY26. EBITDA margin was reported at 36%, which was impacted by commercialization expenses for the new injectable facility. Excluding these expenses, the core EBITDA margin stood at 41%.
EBITDA Margin
Reported EBITDA margin of 36% in Q2 FY26, down from a normalized 41% due to the ramp-up of the new injectable facility commissioned in March 2025.
Capital Expenditure
The company commissioned a new injectable facility in March 2025. While the specific INR Cr value for this capex was not disclosed in the snippets, management indicated that future growth will be driven by the utilization of this new capacity.
Credit Rating & Borrowing
As of July 23, 2025, ICRA reaffirmed a long-term rating of [ICRA]AA- (Stable) and a short-term rating of [ICRA]A1+ for total bank loan facilities of INR 125.00 Cr.
Operational Drivers
Raw Materials
Fermentation-based media and semi-synthetic API precursors. Specific chemical names like glucose or specific solvents were not disclosed in the available documents.
Import Sources
Not specifically disclosed, though the company operates in global markets including the US and Middle East, implying global sourcing for certain precursors.
Capacity Expansion
Commissioned a new injectable facility in March 2025. Management is focusing on scaling up utilization of this facility and its established fermentation platform to drive a 25% CAGR.
Raw Material Costs
Raw material costs are managed through backward integration, which management cites as a key factor in maintaining an impeccable compliance record and competitive advantage.
Manufacturing Efficiency
Core EBITDA margin of 41% (excluding new facility startup costs) indicates high manufacturing efficiency in the established API business.
Strategic Growth
Expected Growth Rate
25%
Growth Strategy
The 25% CAGR will be achieved by ramping up capacity utilization at the new injectable facility commissioned in March 2025, expanding the CDMO (Contract Development and Manufacturing Organization) business for fermentation and semi-synthetic APIs, and increasing geographic reach in the US and Emerging Markets.
Products & Services
Fermentation-based APIs, Semi-Synthetic APIs, and Injectable formulations.
Brand Portfolio
Concord Biotech.
New Products/Services
Injectables, which began commercialization in March 2025 and are expected to be a major contributor to the 25% CAGR target.
Market Expansion
Targeting expansion in India, Emerging Markets, and the US by leveraging existing global player relationships.
Market Share & Ranking
Leading supplier of fermentation-based API products in a distinct niche.
Strategic Alliances
Positioned as a trusted CDMO partner for global pharmaceutical players.
External Factors
Industry Trends
The industry is seeing a shift toward specialized fermentation-based APIs where entry barriers are high due to process complexity. Concord is positioning itself to capture this through its CDMO model and new injectable capacities.
Competitive Landscape
Operates in a niche fermentation-based API space with few competitors capable of matching their scale and regulatory compliance record.
Competitive Moat
Sustainable moat built on deep expertise in complex fermentation, backward integration, and a robust regulatory approval record, which creates significant entry barriers for competitors.
Macro Economic Sensitivity
Sensitive to US trade policies and tariffs, which caused a shift in procurement patterns from US customers in Q2 FY26.
Consumer Behavior
Not applicable as the company is a B2B pharmaceutical supplier.
Geopolitical Risks
High sensitivity to Middle East conflicts, which led to the deferment of supplies under a government contract in that region.
Regulatory & Governance
Industry Regulations
Operations are heavily dependent on CDSCO (Central Drugs Standard Control Organization) Written Confirmations for product sales and exports. Delays in these renewals directly caused the Q2 FY26 revenue decline.
Legal Contingencies
The company reported no instances of significant fraud involving management or employees for the year ended March 31, 2025.
Risk Analysis
Key Uncertainties
Regulatory delays (CDSCO renewals) and geopolitical instability (Middle East conflict) are primary uncertainties that can cause timing-related revenue fluctuations of ~20% as seen in Q2 FY26.
Geographic Concentration Risk
Significant revenue exposure to the US and Middle East markets makes the company vulnerable to regional trade wars and conflicts.
Third Party Dependencies
Dependency on CDSCO for regulatory renewals and global pharmaceutical clients for CDMO contracts.
Technology Obsolescence Risk
Low risk due to the high complexity of fermentation processes and continuous R&D investment.
Credit & Counterparty Risk
Receivables quality not specifically disclosed, but the company maintains an [ICRA]AA- credit rating.
