Bafna Pharmaceuticals LimitedQ1 FY27 Results & Financial Update
Bafna Pharmaceuticals Limited: Q1 FY27 standalone results and company financials – revenue ₹26.58 Cr, PAT ₹0.08 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
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Quarterly Results AnalysisExplore Bafna Pharmaceuticals Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
For the first quarter ended June 30, 2026, Bafna Pharmaceuticals reported a standalone revenue from operations of INR 26.58 crore, accompanied by other income of INR 1.91 crore, bringing total income to INR 28.49 crore.
Profitability for the quarter moderated significantly, with profit before tax (PBT) and profit after tax (PAT) both standing at INR 0.08 crore (INR 7.51 lakhs), translating to a basic and diluted earnings per share of INR 0.03.
The compressed bottom-line performance was driven by a combination of material input and operating expenses, alongside non-operating outflows including finance costs of INR 0.94 crore and depreciation and amortization charges of INR 1.78 crore.
Cost of material consumed accounted for INR 14.32 crore, while manufacturing expenses stood at INR 4.89 crore and employee benefit expenses absorbed INR 5.62 crore.
Inventory adjustments provided a positive impact during the quarter, with a change in inventories of work-in-progress and finished goods amounting to a positive variation of INR 1.70 crore.
The statutory auditors, Brahmayya & Co., subjected the financial results to a limited review and issued an unmodified conclusion, while highlighting an emphasis of matter regarding ongoing Goods and Services Tax (GST) litigation.
The company's paid-up equity share capital remained unchanged at INR 23.66 crore, consisting of equity shares with a face value of INR 10 each.
01 · Business model
What does Bafna Pharmaceuticals do?
Bafna Pharmaceuticals Limited operates in the Indian pharmaceutical sector, focusing primarily on the manufacturing of pharmaceutical formulations.
The company's operations are rooted at its registered office in Chennai, Tamil Nadu, and supported by manufacturing infrastructure situated in Vadakarai Post, Chennai.
Bafna generates revenue by producing and marketing pharmaceutical products, operating as a single integrated business segment under Indian Accounting Standards (Ind AS 108).
02 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹26.58 Cr |
| Total income | ₹28.49 Cr |
| Profit before tax | ₹0.08 Cr |
| Profit after tax | ₹0.08 Cr |
| EPS | ₹0.03 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 0.3% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 0.3% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹1.91 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
03 · Why it moved
Why the quarter looked the way it did
What drove revenue
Revenue from operations for Q1 FY27 stood at INR 26.58 crore, derived exclusively from the company's pharmaceutical formulations business.
Other income added INR 1.91 crore to the top-line, elevating total income for the quarter to INR 28.49 crore.
What drove margins
Cost of material consumed stood at INR 14.32 crore, while manufacturing expenses represented INR 4.89 crore of total expenditures.
Changes in inventories of work-in-progress and finished goods resulted in a positive inventory adjustment of INR 1.70 crore, partially offsetting production costs.
Employee benefit expenses were recorded at INR 5.62 crore, and other expenses accounted for INR 2.59 crore.
04 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
In accordance with Ind AS 108, the company considers the manufacturing of pharmaceutical formulations as its only reportable segment.
05 · Reported developments
What changed operationally
The statutory auditors issued a clean limited review report on the standalone financial results for the quarter ended June 30, 2026.
06 · Pressure points & risks
What is not going smoothly
The company disclosed pending GST disputes, including a demand order of INR 2.35 crore and a recovery order of INR 3.13 crore (INR 331.09 lakhs) related to earlier year refunds along with interest and penalty, against which a writ petition has been filed before the Madras High Court.
07 · Beyond the numbers
What changed beyond the numbers
Reported update
Legal Proceedings on GST
Bafna Pharmaceuticals has obtained a stay from the Madras High Court regarding the recovery of past GST refunds amounting to INR 3.31 crore and has appealed the separate GST demand of INR 2.35 crore. Management remains confident of prevailing based on legal precedents and industry practices.
08 · Key Q&A
The quarter, answered directly
What does Bafna Pharmaceuticals do?
Bafna Pharmaceuticals Limited operates in the Indian pharmaceutical sector, focusing primarily on the manufacturing of pharmaceutical formulations.
What is the clearest takeaway from Q1 FY27?
For the first quarter ended June 30, 2026, Bafna Pharmaceuticals reported a standalone revenue from operations of INR 26.58 crore, accompanied by other income of INR 1.91 crore, bringing total income to INR 28.49 crore.
What drove revenue or demand?
Revenue from operations for Q1 FY27 stood at INR 26.58 crore, derived exclusively from the company's pharmaceutical formulations business.
What mattered most for margins or profitability?
Cost of material consumed stood at INR 14.32 crore, while manufacturing expenses represented INR 4.89 crore of total expenditures.
What changed operationally beyond the headline numbers?
Bafna Pharmaceuticals has obtained a stay from the Madras High Court regarding the recovery of past GST refunds amounting to INR 3.31 crore and has appealed the separate GST demand of INR 2.35 crore. Management remains confident of prevailing based on legal precedents and industry practices.
What are the main pressure points disclosed for the quarter?
The company disclosed pending GST disputes, including a demand order of INR 2.35 crore and a recovery order of INR 3.13 crore (INR 331.09 lakhs) related to earlier year refunds along with interest and penalty, against which a writ petition has been filed before the Madras High Court.
09 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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10 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
GST Litigation Progress: Track developments and legal proceedings regarding the Madras High Court writ petition and GST appellate authority outcomes.
- 02
Operational Margin Recovery: Monitor subsequent quarter realizations and cost structures to assess profitability trends following compressed earnings in Q1 FY27.
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