NGL Fine-Chem LimitedQ1 FY27 Results & Financial Update
NGL Fine-Chem Limited: Q1 FY27 consolidated results and company financials – revenue ₹139.16 Cr, PAT ₹18.40 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore NGL Fine-Chem 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
NGL Fine-Chem Limited delivered operational results for the quarter ended June 30, 2026, posting revenue from operations of ₹139.16 crore, reflecting stable underlying demand momentum across key geographic and product segments.
Total income for Q1 FY27 reached ₹146.59 crore, supported by ₹7.43 crore of other income during the period.
Profitability expanded significantly, driven by healthy operating margins, inventory gains from price increases, and a notable foreign exchange swing. The company recorded a forex gain of ₹2.5 crore in Q1 FY27, reversing a mark-to-market forex loss of ₹4.5 crore from Q4 FY26.
Management highlighted that part of the margin expansion during the quarter stemmed from inventory gains arising from price increases, and expects realisations to normalise in coming quarters without structural business changes.
On the operational and expansion front, the Phase II capex project remains on schedule for commissioning during the current quarter, with commercial production slated to begin from H2 FY27 to support medium-term growth.
Profit after tax was ₹18.40 Cr for the reported quarter. EPS was ₹29.78 for the reported quarter.
01 · Business model
What does NGL Fine-Chem do?
NGL Fine-Chem Limited is a specialized manufacturer operating primarily in the animal health sector, producing active pharmaceutical ingredients (APIs), intermediates, and finished dosage forms.
The product portfolio spans animal APIs, human APIs, intermediates, and formulations, with veterinary APIs forming the core revenue engine and accounting for 95% of segment revenue mix during Q1 FY27.
The company maintains manufacturing capabilities across five facilities located in Tarapur and Navi Mumbai, Maharashtra, spanning approximately 20,000 square meters with specialized reaction infrastructure.
NGL Fine-Chem supplies products to customers globally, holding supplier relationships with five of the top ten global animal healthcare companies and maintaining regulatory accreditations including WHO-GMP and ISO standards.
02 · Historical context
What shaped the business before this quarter
Annual revenue reached ₹501 crore in FY26 compared to ₹368 crore in FY25, supported by strong volume off-take.
Revenue from the veterinary API segment grew at a compound annual growth rate (CAGR) of 13% between FY22 and FY26, rising from ₹258 crore to ₹466 crore.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹139.16 Cr |
| Total income | ₹146.59 Cr |
| Profit before tax | ₹24.48 Cr |
| Profit after tax | ₹18.40 Cr |
| EPS | ₹29.78 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Animal APIs contributed 95% of the segmental revenue mix in Q1 FY27, matching the proportion seen in Q4 FY26 and up from 92% in Q1 FY26.
Asia accounted for 40% of geographic revenue mix in Q1 FY27, followed by ROW at 30%, India at 20%, and Europe at 10%.
What drove margins
Management noted that part of the operating margin improvement during the quarter was driven by inventory gains from temporary price increases, which are expected to normalise.
Medium-term margin performance continues to be supported by underlying demand and operating leverage across backward-integrated manufacturing facilities.
05 · Demand, customers & order book
Where demand is coming from
Top 3 customers accounted for 18% of sales in Q1 FY27, top 5 customers for 26%, and top 10 customers for 38%.
Top 3 products represented 31% of sales in Q1 FY27, top 5 products represented 48%, and top 10 products accounted for 68%.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Q1 FY27 revenue mix stood at 95% for Animal APIs, 3% for Human APIs, 1% for Intermediates, and 0% for Formulations.
Geography and market mix
Asia remained the largest geographic contributor at 40% in Q1 FY27 (compared to 43% in Q4 FY26), while Europe contributed 10% and India accounted for 20%.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Facilities span 20,000 square meters across Tarapur and Navi Mumbai, featuring 168 kiloliters of glass-lined reactors, 253 kiloliters of stainless steel reactors, and 36 cubic meters of gas induction reactors.
75% of total production volume originates from zero liquid discharge facilities.
Projects, capex and execution
Estimated capex of ₹210 crore, funded through debt and internal accruals, with ₹209.71 crore invested up to Q1 FY27; civil construction is underway and commercial production is planned to commence in H2 FY27.
Expansion in subsidiary Macrotech has been completed for intermediate capacities, with commercial production already commenced.
08 · Strategy & new businesses
How the company is trying to change its growth mix
The company maintains strong R&D capabilities focused on custom synthesis and expanding market share in key veterinary API product lines.
09 · Reported developments
What changed operationally
Recorded a forex gain of ₹2.5 crore in Q1 FY27, contrasting with a forex loss of ₹4.5 crore in Q4 FY26.
10 · Items worth noticing
The line items that can distort a quick read
Reported a foreign exchange gain of ₹2.5 crore in Q1 FY27, compared to a forex loss of ₹4.5 crore in Q4 FY26, providing a measurable periodic uplift to earnings.
11 · Management guidance & targets
What management is targeting from here
Management stated confidence in the medium-term earnings outlook, driven by underlying demand, operating leverage, and incremental capacity from upcoming expansion.
12 · Beyond the numbers
What changed beyond the numbers
Reported update
Management Transition
Rahul Nachane serves as Managing Director, leading the company's operational execution and strategic expansion initiatives.
13 · Key Q&A
The quarter, answered directly
What does NGL Fine-Chem do?
NGL Fine-Chem Limited is a specialized manufacturer operating primarily in the animal health sector, producing active pharmaceutical ingredients (APIs), intermediates, and finished dosage forms.
What is the clearest takeaway from Q1 FY27?
NGL Fine-Chem Limited delivered operational results for the quarter ended June 30, 2026, posting revenue from operations of ₹139.16 crore, reflecting stable underlying demand momentum across key geographic and product segments.
What drove revenue or demand?
Animal APIs contributed 95% of the segmental revenue mix in Q1 FY27, matching the proportion seen in Q4 FY26 and up from 92% in Q1 FY26.
What mattered most for margins or profitability?
Management noted that part of the operating margin improvement during the quarter was driven by inventory gains from temporary price increases, which are expected to normalise.
What changed operationally beyond the headline numbers?
Facilities span 20,000 square meters across Tarapur and Navi Mumbai, featuring 168 kiloliters of glass-lined reactors, 253 kiloliters of stainless steel reactors, and 36 cubic meters of gas induction reactors.
What is management guiding or targeting from here?
Management stated confidence in the medium-term earnings outlook, driven by underlying demand, operating leverage, and incremental capacity from upcoming expansion.
14 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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15 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Realisation Normalisation: Track whether operating margins moderate as price realisations and inventory gains normalize in subsequent quarters.
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