Acutaas margin rebounds as management raises FY27 growth guidance
Revenue growth outpaced expenses in both comparisons, while the 40.27% operating margin stood 16.86 percentage points above the healthcare-peer median.
Filed 27 Oct 2026, 12:50 IST · Acutaas Chemicals Ltd (ACUTAAS)
Key takeaways
- Consolidated revenue rose 42.69% year on year to Rs 436.92 cr as expenses grew 23.75%, lifting operating margin by 9.14 percentage points.
- Net profit increased 71.36% year on year to Rs 123.14 cr, supported mainly by operating performance rather than other income, which was 3.05% of pre-tax profit.
- Management raised its FY27 revenue-growth guidance from 25% to around 30% after operating margin recovered to 40.27% from 34.30% in Q1FY27.
Price around the results
Revenue growth widened the operating spread
Acutaas reported consolidated revenue growth of 42.69% year on year and 32.53% sequentially. Expenses grew more slowly, at 23.75% year on year and 20.48% sequentially, which drove operating-profit growth of 84.61% and 55.63%, respectively. The operating margin therefore expanded by 9.14 percentage points year on year and 5.97 percentage points from Q1FY27.
Profit growth was operating-led, with limited other-income support
Net profit grew 71.36% year on year and 64.21% sequentially, despite interest costs rising 75.86% year on year. Other income contributed only 3.05% of pre-tax profit, so it was not a material source of the quarter’s earnings. The sequential tax rate fell by 1.41 percentage points, while the year-on-year tax rate increased by 1.13 percentage points.
Margin recovered after the Q1FY27 decline
Operating margin had fallen from 42.41% in Q4FY26 to 34.30% in Q1FY27, but recovered to 40.27% in Q2FY27. The current margin was 16.86 percentage points above the 23.41% median for the 13 healthcare peers that had reported the same quarter. This marks a rebound in the quarterly margin trend rather than a continuation of the prior quarter’s decline.
Management lifts FY27 revenue-growth guidance
Management said it had raised FY27 revenue-growth guidance from 25% to around 30%. The company’s reported 40.27% operating margin provides the current reference point for assessing whether that growth is accompanied by sustained profitability.
Market reaction is still pending
A market reaction has not yet been captured for these results. After the last eight results, the stock rose seven times and fell once, with a median absolute move of 5.43%. The recorded moves ranged from -5.77% to +7.78%.
Q2FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 | Q1FY27 | QoQ | YoY |
|---|---|---|---|---|
| Revenue | ₹437 cr | ₹330 cr | +32.53% | +42.69% |
| Other income | ₹5 cr | ₹2 cr | +183.33% | -48.17% |
| Expenses | ₹261 cr | ₹217 cr | +20.48% | +23.75% |
| Operating profit | ₹176 cr | ₹113 cr | +55.63% | +84.61% |
| Operating margin (%) | 40.27% | 34.30% | — | — |
| Interest | ₹1 cr | ₹1 cr | -10.53% | +75.86% |
| Depreciation | ₹13 cr | ₹10 cr | +29.23% | +51.07% |
| Profit before tax | ₹167 cr | ₹104 cr | +61.06% | +74.01% |
| Tax | ₹44 cr | ₹29 cr | +52.90% | +81.83% |
| Net profit | ₹123 cr | ₹75 cr | +64.21% | +71.36% |
| EPS (₹) | ₹15.29 | ₹9.07 | +68.58% | +73.36% |
Operating margin of 40.27% compares with a Healthcare sector median of 23.41% across 13 peers that have reported Q2FY27.
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
Guidance & outlook
- The company raised its FY27 revenue growth guidance from 25% to around 30%.
What to watch
- Whether consolidated operating margin holds above 40.27% after the Q2FY27 rebound.
- Whether FY27 revenue growth tracks management’s revised guidance of around 30%.
- Whether expenses continue to grow more slowly than revenue after the 20.48% sequential increase.