Syngene International surged 2.99% on the BSE, closing at ₹370.50 after announcing a ₹32 crore net profit— a 52% plunge from ₹67 crore in Q2 FY25‑26.
Revenue fell 8.6% YoY to ₹833 crore, while EBITDA slipped 26% to ₹147.4 crore, tightening the margin from 21.9% to 17.7%. The company cites lower Zoetis revenue and forex‑hedge losses as primary drivers, noting that adjusted margins would sit in the mid‑20s if the hedge hit were excluded.
CEO Siddharth Mittal said the firm’s CDMO arm is gaining traction, highlighted the first Bayview biologics manufacturing agreement with a U.S. pharma client, and underscored a new unified leadership for discovery services. Chair Kiran Mazumdar‑Shaw added that Syngene’s focus remains on high‑value, differentiated services to reinforce long‑term growth.
Looking ahead, the next earnings call is slated for mid‑June. Analysts are watching how the company will navigate the ongoing currency headwinds and whether its expanded CDMO footprint will translate into a rebound in margins. Investors will also gauge the impact of the newly signed U.S. contract on the firm’s revenue mix.