VENUS REMEDIES LTD. Q1 FY27 Results

Venus Remedies opened FY27 with a sharply stronger year-on-year print. Consolidated revenue from operations rose to ₹178.86 Cr, up ~30% from ₹137.18 Cr a year ago, while consolidated net profit more than doubled to ₹22.97 Cr from ₹9.60 Cr — a ~139% YoY jump that is entirely operational, as neither period carried any exceptional item. The profit surge is a margin story: net margin widened to ~12.8% from ~7% and EBITDA margin to ~20.6% (₹36.81 Cr) from ~13.7%, driven by operating leverage — revenue grew far faster than material, employee and SG&A costs, none of which rose in step. Finance cost is negligible (~₹0.00 Cr), so the entire PBT-to-PAT bridge is clean.

The sequential optics are weak — revenue fell ~31% and PAT ~52% versus Q4 FY26 (₹259.40 Cr / ₹47.49 Cr) — but Q4 is the year-end seasonal peak for the business and the relevant, anchoring comparison is the YoY doubling. Standalone tells a marginally stronger topline-adjusted story (revenue ₹178.80 Cr, PAT ₹25.53 Cr, +118% YoY); the ~21pp gap in growth rate versus consolidated is the German subsidiary Venus Pharma GmbH, which lost ₹2.55 Cr this quarter and is the reason consolidated PAT trails standalone. Management gives no formal guidance and there is no prior concall or street consensus on record for a company this size. The one forward flag is management's own: the auditor's emphasis-of-matter notes ₹28.60 Cr of share application money stuck in the loss-making German WOS pending allotment, with European operations being restructured in FY27 — the concurrent board approval to revise the MOA/object clause and the ₹10/share final dividend (AGM Aug 20, 2026) are the quarter's other corporate actions, unrelated to the numbers.

The stock went into the print at ₹1,797.5, up 91.2% over the past month of trading.

Consolidated basic EPS ₹17.18 vs ₹7.18 YoY — standalone EPS ₹19.40