Lyka Labs Limited (LYKALABS)
₹87.79 +5.00% last close, 16 Oct
Q2 FY27 results
📅 Next results: 30 Oct 2026 (board meeting)Lyka Labs Limited's board meets on 30 Oct 2026 to consider its Q2 FY27 results (July-September 2026).
In its latest reported quarter, Q1 FY27, Lyka Labs' revenue was ₹42.3 Cr (+45.0% year on year, +50.9% on the previous quarter), and net profit ₹2.0 Cr (+151.4% year on year); the operating margin was 10.7%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹42.3 | +45.0% | +50.9% |
| Operating profit | ₹4.5 | +34.2% | from loss |
| Net profit | ₹2.0 | +151.4% | from loss |
| EPS (₹) | 0.57 | +159.1% | from loss |
| Operating margin | 10.7% | — | — |
LYKALABS exchange data
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📢 Recent Corporate Announcements
Lyka Labs Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate was issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited on October 3, 2026. It confirms that share certificates received for dematerialisation during the period were duly verified, cancelled, and depositories were substituted as registered owners. This is a standard procedural filing with no operational or financial impact.
- Regulation 74(5) compliance confirmed for the quarter ended September 30, 2026
- Certificate received from RTA MUFG Intime India Private Limited dated October 3, 2026
- Confirmation that dematerialised certificates were cancelled and records updated within prescribed timelines
Lyka Labs Limited held its 47th Annual General Meeting on August 10, 2026, where shareholders approved all five proposed resolutions with over 99.8% majority. Key approvals included the adoption of FY26 financial statements and material related party transactions (RPT) with IPCA Laboratories Limited for FY27. The company, which reported a TTM loss of ₹10 Cr and a negative OPM of -3.0%, continues to rely on strategic partnerships. Promoters, holding 58.5% of the company, abstained from the RPT vote as per regulatory requirements.
- All 5 resolutions passed with over 99.8% of the votes cast in favor.
- Resolution 5 for material Related Party Transactions with IPCA Laboratories for FY27 was approved by public shareholders.
- A total of 66 shareholders attended the meeting via video conferencing (10 Promoters, 56 Public).
- The company reported a TTM revenue of ₹125 Cr against a market cap of ₹250 Cr.
- Promoter group holding stands at 58.5% as of the June 2026 quarter.
Lyka Labs reported a strong turnaround in Q1 FY27, with consolidated net profit rising 105.44% YoY to ₹2.05 Cr. Revenue from operations grew 28.11% YoY to ₹42.31 Cr, representing approximately 34% of the company's TTM revenue in a single quarter. Growth was primarily driven by a 68% surge in export revenue and a 62% increase in domestic branded formulations. However, consolidated EBITDA margins compressed to 11.74% from 13.07% in the previous year, indicating higher operating costs despite the volume growth.
- Consolidated Net Profit increased by 105.44% YoY to ₹204.66 Lacs (₹2.05 Cr).
- Export Revenue grew by 68.03% YoY to ₹1,483.42 Lacs (₹14.83 Cr).
- Consolidated Revenue from Operations reached ₹4,230.94 Lacs, up 28.11% YoY.
- Domestic Branded Formulation sales surged 62.27% to ₹737.67 Lacs.
- Consolidated EBITDA margin contracted to 11.74% compared to 13.07% in Q1 FY26.
Lyka Labs held its 47th Annual General Meeting on August 10, 2026, to approve the FY26 financial results and key operational resolutions. The company reported a consolidated net loss of ₹10.19 Cr for FY26 on a revenue of ₹124.6 Cr, reflecting a challenging year compared to FY25. A significant agenda item was the approval of material related party transactions with IPCA Laboratories for FY 2026-27. Management addressed queries from five speaker shareholders regarding the company's turnaround strategy and financial health.
- 47th Annual General Meeting concluded on August 10, 2026, with 66 members in attendance.
- Proposed approval for Material Related Party Transactions with IPCA Laboratories for the 2026-27 financial year.
- FY26 performance review presented: Revenue of ₹124.6 Cr and a Net Loss of ₹10.19 Cr.
- Statutory and Secretarial Auditor reports for FY26 were confirmed to have no qualifications or adverse remarks.
- The meeting was conducted in 35 minutes, starting at 12:30 PM and concluding at 1:05 PM.
Lyka Labs reported a strong turnaround in Q1 FY27, with consolidated net profit rising 105.44% YoY to Rs 2.05 Cr. Total consolidated income grew 26.95% YoY to Rs 42.73 Cr, driven by a significant 68% surge in export revenue and a 98% jump in branded veterinary sales. However, consolidated EBITDA margins saw compression, falling to 11.74% from 13.07% in the year-ago period. The quarterly revenue of Rs 42.31 Cr represents approximately 34% of the company's TTM revenue of Rs 125 Cr, indicating a robust start to the fiscal year.
- Consolidated Net Profit increased by 105.44% YoY to Rs 2.05 Cr
- Export Revenue surged 68.03% YoY to Rs 14.83 Cr
- Branded Veterinary segment grew 97.83% YoY to Rs 5.87 Cr
- Consolidated EBITDA margin compressed by 133 bps to 11.74%
- Domestic Branded Formulation sales grew 62.27% YoY to Rs 7.38 Cr
Lyka Labs reported a weak Q1 FY27 with consolidated revenue declining 20.8% YoY to ₹32.30 Cr. The company swung to a consolidated net loss of ₹10.44 Cr, compared to a profit of ₹0.99 Cr in the same period last year. Concurrently, the board approved the 100% divestment of its subsidiary, Lyka BDR International Limited, which contributed 8% to FY26 revenue but carries a negative net worth of ₹4.49 Cr. Standalone results were further weighed down by a significant exceptional loss of ₹23.01 Cr, likely related to subsidiary adjustments.
- Consolidated revenue for Q1 FY27 fell to ₹32.30 Cr from ₹40.78 Cr in Q1 FY26.
- Net loss for the quarter stood at ₹10.44 Cr against a profit of ₹0.99 Cr in the year-ago period.
- Board approved 100% divestment of Lyka BDR International Limited, which had a negative net worth of ₹4.49 Cr as of March 2026.
- Standalone results included a large exceptional loss of ₹23.01 Cr, impacting the standalone bottom line significantly.
- Finance costs remained elevated at ₹4.53 Cr for the quarter, representing 14% of consolidated revenue.
Lyka Labs has scheduled its 47th Annual General Meeting (AGM) for August 10, 2026, to be conducted via video conferencing. The company has dispatched notices to shareholders whose email addresses are not registered, providing access to the FY 2025-26 Annual Report. This is a routine administrative filing following a period where the company reported a TTM revenue of ₹125 Cr and a TTM net loss of ₹10 Cr. Investors can now access the full financial disclosures for the past fiscal year on the company's website.
- 47th Annual General Meeting scheduled for August 10, 2026, at 12:30 PM IST
- Cut-off date for identifying shareholders for physical letter dispatch was July 10, 2026
- Annual Report for the Financial Year 2025-26 made available via digital weblink
- Mandatory electronic payment for physical folio holders effective since April 1, 2024
- Company reported TTM revenue of ₹125 Cr against a net loss of ₹10 Cr
Lyka Labs has scheduled its 47th Annual General Meeting (AGM) for August 10, 2026, to be conducted via video conferencing. The company has released its Annual Report for the financial year 2025-26, which is now available on its website. This follows a fiscal year where the company reported a TTM revenue of Rs 125 Cr and a net loss of Rs 10 Cr. The announcement also serves as a reminder for shareholders to update KYC details and dematerialize physical shares.
- 47th Annual General Meeting to be held on August 10, 2026, at 12:30 PM
- Shareholder cut-off date for communication was July 10, 2026
- Annual Report for FY 2025-26 is now available for public access on the company website
- Electronic payment mandate for physical holders has been in effect since April 1, 2024
Lyka Labs has scheduled its 47th Annual General Meeting (AGM) for August 10, 2026. A key agenda item is the approval of Material Related Party Transactions with its promoter, IPCA Laboratories Limited, for an aggregate value up to ₹75 Cr during FY 2026-27. This proposed transaction limit is significant, representing 60% of the company's TTM revenue of ₹125 Cr. Other routine matters include the adoption of FY26 financial statements and the re-appointment of Director Shashil Philip Mendonsa.
- AGM scheduled for August 10, 2026, to be held via Video Conferencing.
- Proposed Related Party Transaction (RPT) limit with IPCA Laboratories set at ₹75 Cr for FY27.
- RPT limit of ₹75 Cr represents approximately 60% of the company's TTM revenue of ₹125 Cr.
- Ratification of Cost Auditor remuneration proposed at ₹1,60,000 per annum for FY26 and FY27.
- Director Shashil Philip Mendonsa (DIN: 09667654) is seeking re-appointment by rotation.
Lyka Labs has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the period ended June 30, 2026. The certificate, issued by its Registrar and Share Transfer Agent, MUFG Intime India Private Limited, confirms that physical share certificates received for dematerialization were processed and cancelled. The names of the depositories have been updated in the register of members as the registered owners. This is a standard administrative filing required by all listed companies in India.
- Quarterly compliance certificate submitted for the period ended June 30, 2026
- Confirmation provided by Registrar MUFG Intime India Private Limited on July 1, 2026
- Securities received for dematerialization were processed within prescribed timelines
- Physical certificates were mutilated and cancelled after due verification
- Filing completed on July 10, 2026, in accordance with SEBI regulations
Promoter Kunal N. Gandhi acquired 14,176 equity shares of Lyka Labs Limited through open market purchases on June 29, 2026. This transaction, while small in volume (representing approximately 0.04% of total equity), indicates promoter confidence despite the company reporting a net loss of Rs 8.07 Cr in the March 2026 quarter. The promoter group already holds a significant 58.16% stake as of the last reporting period. Investors should note this buying activity against the backdrop of the company's current negative OPM of -3.0%.
- Acquisition of 14,176 equity shares by Promoter Kunal N. Gandhi on June 29, 2026
- Purchase conducted through open market transactions
- Company reported TTM revenue of Rs 125 Cr with a TTM PAT loss of Rs 10 Cr
- Promoter holding stood at 58.16% as of March 2026
- Transaction follows a period of financial stress, including a Rs 8.07 Cr loss in the most recent quarter (Mar 2026)
Promoters and members of the promoter group of Lyka Labs Limited have collectively acquired 55,967 equity shares through open market transactions between June 24 and June 25, 2026. The acquisitions were made by Kunal N. Gandhi, Nehal N. Gandhi, Alisha K. Gandhi, and Enai Trading and Investment Private Limited. Nehal Gandhi made the largest individual purchase of 33,122 shares. Such insider buying is typically viewed as a sign of management's confidence in the company's valuation and future prospects.
- Total of 55,967 equity shares acquired by the promoter group via open market transactions
- Nehal N. Gandhi acquired 33,122 shares on June 24 and 25, 2026
- Enai Trading and Investment Private Limited purchased 11,312 shares on June 24, 2026
- Kunal N. Gandhi and Alisha K. Gandhi acquired 6,533 and 5,000 shares respectively
- Disclosures made under Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations
Lyka Labs Limited has announced the closure of its trading window starting July 1, 2026, in compliance with SEBI insider trading regulations. This closure is ahead of the announcement of the company's unaudited financial results for the first quarter ending June 30, 2026. The restriction applies to all designated persons and their immediate relatives. The trading window will remain closed until 48 hours after the financial results are officially declared to the stock exchanges.
- Trading window closure effective from Wednesday, July 1, 2026.
- Closure is for the purpose of considering Unaudited Financial Results for the quarter ending June 30, 2026.
- Restriction applies to 'Designated Persons' and their immediate relatives.
- The window will reopen 48 hours after the announcement of the financial results.
Lyka Labs Limited has received a Show Cause-cum-Demand Notice from the CGST Mumbai East authority for a sum of Rs. 73,22,077. The demand pertains to alleged erroneous IGST refunds claimed on exports under Advance Authorization, which the authority claims violates Rule 96(10) of the CGST Rules, 2017. The company is contesting the demand, noting that the specific rule was omitted in October 2024 without a saving clause. Management has stated that this notice does not currently have a material impact on the company's financial or operational activities.
- Received a Show Cause-cum-Demand Notice for Rs. 73,22,077 from CGST Mumbai East.
- Allegation involves ineligible IGST refunds on exports made under Advance Authorization for F.Y. 2020-21 to 2024-25.
- The company argues that Rule 96(10) of CGST Rules was omitted in October 2024.
- Lyka Labs intends to exercise its right to defend the allegations and dispute the demand.
- Management maintains there is no material impact on the company's financials or operations.
Lyka Labs Limited has approved the allotment of 4,62,711 equity shares to the shareholders of Lyka Exports Limited as part of a court-sanctioned Scheme of Amalgamation. The allotment follows a swap ratio of 23 shares of Lyka Labs for every 100 shares held in Lyka Exports. As a result, the company's total paid-up equity share capital has increased to Rs. 36.15 crore, comprising 3,61,52,711 shares. These new shares will rank pari-passu with existing shares and are set to be listed on both BSE and NSE.
- Approved allotment of 4,62,711 equity shares of face value Rs. 10 each.
- Share exchange ratio fixed at 23:100 (23 Lyka Labs shares for every 100 Lyka Exports shares).
- Paid-up equity capital increased to Rs. 36,15,27,110 from the previous level.
- The record date for determining eligible shareholders was June 04, 2026.
- New shares will be listed on BSE and NSE and rank equally with existing equity.
Financial Performance
Revenue Growth by Segment
Consolidated revenue from operations grew 24.5% YoY to INR 138.50 Cr in FY25. However, Q2 FY26 revenue of INR 36.66 Cr showed a decline of 10.9% compared to INR 41.16 Cr in Q2 FY25. The business is primarily focused on pharmaceuticals and research activities.
Geographic Revenue Split
Not disclosed in available documents, though the company recognizes significant international trade receivables, indicating a substantial export component.
Profitability Margins
FY25 Net Profit Margin was 5.7% (INR 7.93 Cr profit on INR 138.50 Cr revenue), a significant turnaround from a net loss of INR 2.62 Cr in FY24. Standalone Q2 FY26 revenue was INR 32.97 Cr, contributing 90% of consolidated revenue.
EBITDA Margin
FY25 EBITDA margin was approximately 14.3% (INR 20.17 Cr EBITDA on INR 140.73 Cr total income). This represents a core profitability improvement from FY24 where the company reported a PBT loss of INR 0.93 Cr.
Capital Expenditure
Historical Capex for FY25 was INR 15.65 Cr, primarily directed towards Property, Plant and Equipment, which increased 64% from INR 46.87 Cr to INR 76.90 Cr.
Credit Rating & Borrowing
Not disclosed in available documents. However, finance costs decreased 53.6% YoY to INR 2.27 Cr in FY25 due to a 55.2% reduction in non-current borrowings from INR 42.91 Cr to INR 19.21 Cr.
Operational Drivers
Raw Materials
Pharmaceutical APIs and intermediates represent the primary raw material cost, with Cost of Materials Consumed at INR 37.07 Cr (26.8% of revenue) and Purchase of Stock-in-Trade at INR 19.88 Cr (14.4% of revenue) in FY25.
Capacity Expansion
Major projects were commissioned in FY25 as Capital Work-In-Progress decreased from INR 21.97 Cr to INR 0.20 Cr, while Property, Plant and Equipment increased by INR 30.03 Cr.
Raw Material Costs
Total material costs (consumed + stock-in-trade) were INR 56.95 Cr in FY25, representing 41.1% of revenue. This is a critical driver as material costs grew 24.8% YoY, closely tracking revenue growth.
Logistics & Distribution
Other expenses, which include distribution, were INR 30.34 Cr in FY25, representing 21.9% of revenue.
Strategic Growth
Expected Growth Rate
24.50%
Growth Strategy
Growth is driven by expansion in pharmaceutical formulations and research services. The strategy involves commissioning new capacity (INR 30 Cr increase in PPE), strengthening the balance sheet through equity warrants (INR 27.20 Cr raised), and leveraging subsidiaries like Lyka BDR International for specialized markets.
Products & Services
Pharmaceutical formulations, medicines, and pharmaceutical research services.
Brand Portfolio
Lyka
Market Expansion
The company operates through subsidiaries Lyka BDR International Limited and Lyka Exports Limited to target international and specialized pharmaceutical segments.
Strategic Alliances
Lyka BDR International Limited represents a strategic partnership in the pharmaceutical space.
External Factors
Industry Trends
The pharmaceutical industry is evolving towards higher research intensity and specialized formulations. Lyka is positioning itself by commissioning new PPE and maintaining a dedicated research division.
Competitive Moat
The company's moat is built on its established 'Lyka' brand and research capabilities. Sustainability depends on the successful recovery of international dues and maintaining the pace of product innovation.
Geopolitical Risks
International trade receivables are subject to geographic and regulatory risks, leading to recent credit loss provisions.
Regulatory & Governance
Industry Regulations
Operations are subject to pharmaceutical manufacturing standards and international trade regulations. The company maintains compliance with Ind AS and SEBI Listing Regulations.
Taxation Policy Impact
Effective tax rate for FY25 was 28.7% (INR 3.19 Cr tax on INR 11.12 Cr PBT).
Legal Contingencies
The company has pending litigations disclosed in Note 36 of the consolidated financial statements as of March 31, 2025. Specific case values were not provided in the snippets.
Risk Analysis
Key Uncertainties
The primary uncertainty is the recoverability of international trade receivables, which necessitated a INR 4.84 Cr provision in Q2 FY26, potentially impacting net margins by 10-15%.
Geographic Concentration Risk
Not disclosed in available documents, but international markets are a significant focus area.
Credit & Counterparty Risk
High credit exposure with trade receivables at INR 43.08 Cr, representing 31% of FY25 revenue, up from 24% in FY24.
