Sanofi India lifts margin 0.76 percentage points as revenue outpaces costs
Standalone Q2 revenue rose +11.62% QoQ, while other income fell -30.16% and contributed 4.28% of pre-tax profit.
Filed 28 Oct 2026, 18:46 IST · after market close · Sanofi Consumer Healthcare India Ltd (SANOFICONR)
Key takeaways
- Standalone revenue grew +11.62% QoQ, faster than expenses at +10.25%, lifting operating margin by 0.76 percentage points.
- Net profit rose +11.34% QoQ even as the tax rate increased 0.27 percentage points; other income contributed 4.28% of pre-tax profit.
- The 38.65% operating margin was 18.75 percentage points above the 19.9% median for 23 reported healthcare peers.
Price around the results
Revenue growth translated into faster operating-profit growth
Sanofi Consumer Healthcare India Ltd’s standalone revenue increased +11.62% QoQ, while expenses grew +10.25%. The gap allowed operating profit to rise +13.89%, ahead of revenue growth, with EPS increasing +11.35% to Rs 33.26.
Operating margin improved despite lower other income
Operating margin expanded from 37.89% in Q1FY27 to 38.65%, a 0.76 percentage-point improvement because revenue grew faster than expenses. Other income declined -30.16% QoQ and accounted for 4.28% of pre-tax profit, leaving reported earnings mainly driven by operations. The tax rate rose 0.27 percentage points to 25.41%, limiting net-profit growth relative to the +11.75% increase in pre-tax profit.
Margin remained well above the healthcare peer median
Sanofi India’s 38.65% operating margin was 18.75 percentage points above the 19.9% median among 23 healthcare companies that had reported the same quarter. The margin also improved from 37.89% in the preceding quarter, although the available trend covers only that sequential comparison.
Results were filed after market close
The standalone results were filed at 18:46 IST on 28 October 2026, after market close. No post-result market reaction is available yet.
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 | ₹263 cr | ₹236 cr | +11.62% |
| Other income | ₹4 cr | ₹6 cr | -30.16% |
| Expenses | ₹161 cr | ₹146 cr | +10.25% |
| Operating profit | ₹102 cr | ₹89 cr | +13.89% |
| Operating margin (%) | 38.65% | 37.89% | — |
| Interest | ₹0 cr | ₹0 cr | -25.00% |
| Depreciation | ₹3 cr | ₹3 cr | -6.06% |
| Profit before tax | ₹103 cr | ₹92 cr | +11.75% |
| Tax | ₹26 cr | ₹23 cr | +12.99% |
| Net profit | ₹77 cr | ₹69 cr | +11.34% |
| EPS (₹) | ₹33.26 | ₹29.87 | +11.35% |
Operating margin of 38.65% compares with a Healthcare sector median of 19.90% across 23 peers that have reported Q2FY27.
How the stock reacted
| Window | Stock | vs NIFTY |
|---|---|---|
| Results day | +4.37% | +3.32% |
| Next session | +2.38% | — |
Volume on the results session was 52.01× its 20-day average.
What to watch
- Whether operating margin holds above 38.65%.
- Whether expense growth remains below revenue growth, against Q2’s +10.25% versus +11.62% QoQ.
- Other income’s share of pre-tax profit relative to Q2’s 4.28%.