Margin improves, but Anuh Pharma remains near the bottom of its sector
Expenses fell faster than revenue sequentially, but lower other income and weaker pre-tax profit offset the operating improvement.
Filed 30 Oct 2026, 16:47 IST · after market close · Anuh Pharma Ltd (ANUHPHR)
Key takeaways
- Anuh Pharma’s standalone operating margin rose 0.75 percentage points QoQ to 9.15% as expenses fell faster than revenue.
- Profit before tax fell 11.10% QoQ as other income dropped 80.19%, despite a 3.99% rise in operating profit.
- At 9.15%, the company’s operating margin was 11.67 percentage points below the Healthcare median across 38 reported peers.
Price around the results
Operating profit rose despite softer revenue
Anuh Pharma’s standalone revenue declined 4.42% QoQ, while expenses fell 5.19%, allowing operating profit to rise 3.99%. The faster reduction in costs lifted operating margin from 8.40% in Q1FY27 to 9.15%.
Other income drove the PBT decline
Other income fell from Rs 3.08 cr to Rs 0.61 cr, pulling profit before tax down 11.10% even as operating profit improved. Other income represented 4.05% of current-quarter PBT, but its sequential decline was material; the 7.03-percentage-point fall in the tax rate to 25.48% partly cushioned net profit, which still declined 1.84%.
Margin remains near the bottom of healthcare peers
The 9.15% operating margin was 11.67 percentage points below the 20.82% median for 38 Healthcare companies that had reported the quarter. Anuh Pharma ranked third from the bottom on this measure, although its margin improved sequentially from 8.40%.
Results were filed after market close
The standalone results were filed after market close on 30 Oct 2026. The stock’s post-results move is therefore not yet part of this read-through.
Q2FY27 at a glance
Standalone figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 | Q1FY27 | QoQ |
|---|---|---|---|
| Revenue | ₹185 cr | ₹194 cr | -4.42% |
| Other income | ₹1 cr | ₹3 cr | -80.19% |
| Expenses | ₹168 cr | ₹178 cr | -5.19% |
| Operating profit | ₹17 cr | ₹16 cr | +3.99% |
| Operating margin (%) | 9.15% | 8.40% | — |
| Interest | ₹0 cr | ₹0 cr | — |
| Depreciation | ₹2 cr | ₹2 cr | +0.82% |
| Profit before tax | ₹15 cr | ₹17 cr | -11.10% |
| Tax | ₹4 cr | ₹6 cr | -30.36% |
| Net profit | ₹11 cr | ₹11 cr | -1.84% |
| EPS (₹) | ₹1.12 | ₹1.14 | -1.75% |
Operating margin of 9.15% compares with a Healthcare sector median of 20.82% across 38 peers that have reported Q2FY27.
What to watch
- Whether operating margin holds above 9.15% after the 0.75-percentage-point sequential improvement.
- Whether other income remains near Rs 0.61 cr rather than returning to the Q1FY27 level of Rs 3.08 cr.
- Whether the tax rate stays below 25.48% after falling 7.03 percentage points QoQ.