DIVISLABDivi's Laboratories Ltd.
Divi's Laboratories Q2 FY27 Results: Consolidated Net Profit ₹1,127 Crore on Total Income of ₹3,770 Crore
- Earnings
- Active pharmaceutical ingredients
Reviewed byKeshav SehgalBlacklitt Research
Divi's Laboratories (NSE: DIVISLAB) reported consolidated total income of ₹3,770 crore and net profit of ₹1,127 crore for the quarter ended 30 Sep 2026, it said in a filing on 07 Nov 2026. Standalone total income was ₹3,735 crore and standalone net profit ₹1,140 crore for the same quarter.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹3,770 crore, up 31.8% YoY and 19.9% QoQ
- Net profit and EPS: ₹1,127 crore, up 63.6% YoY; basic EPS ₹42.49
- Other income: ₹94 crore, down 35.2% YoY and up 46.9% QoQ
Standalone
The company on its own, without its subsidiaries
- Total income: ₹3,735 crore, up 33.1% YoY and 23.0% QoQ
- Net profit and EPS: ₹1,140 crore, up 63.8% YoY; basic EPS ₹42.97
- Other income: ₹88 crore, down 39.7% YoY and up 39.7% QoQ
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 3,770 | 2,860 | +31.8% | 3,144 | +19.9% | |
| Revenue from operations | 3,676 | 2,715 | +35.4% | 3,080 | +19.4% |
| Other income | 94 | 145 | -35.2% | 64 | +46.9% |
| 1,127 | 689 | +63.6% | 902 | +24.9% | |
| Profit before tax | 1,505 | 912 | +65.0% | 1,180 | +27.5% |
| Finance costs | 13 | 8 | +62.5% | 6 | +116.7% |
| Depreciation | 142 | 113 | +25.7% | 133 | +6.8% |
| Tax expense | 378 | 223 | +69.5% | 278 | +36.0% |
| Net profit margin | 29.89% | 24.09% | +5.80 pp | 28.69% | +1.20 pp |
| EPS, basic (₹) | 42.49 | 25.97 | +63.6% | 33.95 | +25.2% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Net profit grew faster than total income. Consolidated net profit rose 63.6% YoY while total income rose 31.8%, and profit before tax rose 65.0%. Revenue from operations, at ₹3,676 crore, rose 35.4% YoY, and other income of ₹94 crore is 2.5% of total income this quarter.
Other income fell 35.2% YoY, from ₹145 crore to ₹94 crore. The filing gives the forex gain within it: ₹24 crore this quarter against ₹63 crore a year earlier. The filing does not give the reason for the fall in forex gain.
Tax rose 69.5% YoY to ₹378 crore, which is 25.1% of profit before tax of ₹1,505 crore. Tax grew faster than profit before tax, so the effective rate is higher than in the year-earlier quarter, when tax was 24.5% of profit before tax of ₹912 crore.
Finance costs of ₹13 crore are 0.3% of total income, against ₹8 crore a year earlier. Depreciation rose 25.7% to ₹142 crore. The filing reports no exceptional item in this quarter; the ₹74 crore impact of new labour codes was in the year ended 31 Mar 2026.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 3,735 | 2,806 | +33.1% | 3,037 | +23.0% | |
| Revenue from operations | 3,647 | 2,660 | +37.1% | 2,974 | +22.6% |
| Other income | 88 | 146 | -39.7% | 63 | +39.7% |
| 1,140 | 696 | +63.8% | 891 | +27.9% | |
| Profit before tax | 1,520 | 920 | +65.2% | 1,165 | +30.5% |
| Finance costs | 13 | 8 | +62.5% | 6 | +116.7% |
| Depreciation | 142 | 113 | +25.7% | 132 | +7.6% |
| Tax expense | 380 | 224 | +69.6% | 274 | +38.7% |
| Net profit margin | 30.52% | 24.80% | +5.72 pp | 29.34% | +1.18 pp |
| EPS, basic (₹) | 42.97 | 26.24 | +63.8% | 33.55 | +28.1% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone profit followed the same pattern. Net profit rose 63.8% YoY to ₹1,140 crore, against total income growth of 33.1%. Revenue from operations rose 37.1% to ₹3,647 crore while other income fell 39.7% to ₹88 crore.
Standalone net profit is ₹13 crore above consolidated net profit for the quarter. Standalone total income is ₹35 crore below consolidated total income. The filing gives standalone forex gain as ₹27 crore, against ₹64 crore a year earlier.
Tax of ₹380 crore is 25.0% of standalone profit before tax of ₹1,520 crore, against 24.3% a year earlier. Finance costs were ₹13 crore and depreciation ₹142 crore.
For the half year ended 30 Sep 2026, consolidated total income was ₹6,907 crore against ₹5,389 crore a year earlier, and consolidated profit for the period was ₹2,029 crore against ₹1,234 crore. The filing reports dividend payments of ₹797 crore in the half year. It does not state a dividend declared for the quarter.
Inference
The filing says the statements were reviewed by the audit committee and approved by the board on 7 Nov 2026. Price Waterhouse Chartered Accountants LLP issued an unmodified limited review report on both sets of results.
The filing does not give the reason for the rise in changes in inventories and cost of materials consumed, nor the order book or capacity utilisation for the quarter, so the sources of the revenue growth are not known from the filing.
Filed with BSE on . Reference: Original filing (PDF)
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