SMS Pharmaceuticals Limited — Investor Meet, 13-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

SMS Pharma delivered strong Q2 FY26, with PAT up 80% YoY to ₹25.3 Cr and revenue up 23% to ₹242.4 Cr. EBITDA grew 54% to ₹48.3 Cr (20% margin). H1 PAT rose 50% to ₹45.8 Cr. Backward integration, with ₹150 Cr invested, is a key driver for cost competitiveness and supply chain. A ₹280 Cr capex program for capacity and new products is on track for Nov 2026, with revenue expected from FY28. R&D team expansion is also planned. Management is confident in achieving FY26 targets of ~20% growth and 20% EBITDA margin, driven by R&D, diversified portfolio, and process improvements. Receivable days are below 10, and ARV has good visibility.