Gufic Biosciences Ltd

Tax Dispute Update

• Appellate order under Section 250 allows the appeal, deleting Rs 4,33,36,680 tax demand for AY 2024-25.
• Order No ITBA/APL/S/250/2026-27/1093989837(1) dated Sept 28, 2026; receipt on Sept 29, 2026.
• Impact: tax demand deleted on implementation of the order.
• This follows the company's earlier intimation dated January 20, 2026.

Gufic Biosciences Limited: Trading Window closed from Thursday, October 01, 2026 till 48 hours after the declaration of Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended September 30, 2026.

ESG rating update

• CRISIL ESG Rating assigns 62 (Strong) to Gufic Biosciences for FY2025-26.
• Rating provided by Crisil ESG Ratings and Analytics Ltd, independently, not at the company's request.
• Report dated September 25, 2026; company received the rating on September 28, 2026.
• Rating based on FY 2025-26 information in the public domain.
• No material financial impact or governance changes disclosed.

Regulatory penalties related to director appointment

• NSE rejected the waiver for penalties tied to non-compliance in director appointment.
• Penalty of ₹1.72 lakh (excluding GST) for quarter ended 30 Sept 2024 payable by Oct 3, 2026.
• Earlier penalties of ₹8,000 each were paid to BSE and NSE for Jun 2024.
• BSE waiver application was rejected; company notified exchanges on the matter.
• NSE letter dated 23 Sep 2026 rejected the waiver application.
• Payment to NSE to be made by Oct 3, 2026; company will comply.
• Background: appointment of Mr Kamal Seth as Additional Director above age 75 without shareholder approval.
• Waiver applications filed with BSE/NSE; both denied.

Rating details

• Total bank loan facilities rated: Rs 516 crore (enhanced from Rs 425 crore).
• Long-term rating: CRISIL A-/Stable (Reaffirmed).
• Short-term rating: CRISIL A2+ (Reaffirmed).
• Rating agency: CRISIL Ratings Limited.

AGM details

• AGM held on 04-09-2026 via VC/OAVM from 3:30 PM to 4:09 PM.
• Record date: 28-08-2026.

Resolutions and outcomes

• Resolution 1 (Ordinary): Adopt standalone and consolidated financial statements for the year ended March 31, 2026; passed.
• Resolution 2 (Ordinary): Declare final dividend of Re.0.10 per equity share; passed.
• Resolution 3 (Ordinary): Appoint Pranav J. Choksi by rotation; passed.
• Resolution 4 (Ordinary): Ratify remuneration of Cost Auditors for FY 2026-27; passed.
• Resolution 5 (Special): Re-appoint Pankaj J. Gandhi as Whole-Time Director after turning 70; passed.
• No invalid votes reported for any resolution.
• All resolutions approved by requisite majority.

Directors changes

• Pranav J. Choksi retires by rotation and is re-appointed.
• Pankaj J. Gandhi re-appointed as Whole-Time Director after attaining age 70.

Auditors

• Remuneration of Cost Auditors M/s Poddar & Co ratified for FY 2026-27.

Dividend details

• Final dividend of Re.0.10 per equity share declared and approved.

Promotions and designation changes

• Board approved promotions and designation changes for two senior managers, effective Sep 2, 2026.
• Ami Shah promoted to Head-Legal while remaining Company Secretary, Compliance Officer, and KMP.
• Pinak Padhya promoted to President – Sales & Marketing, from Vice President – Sales & Marketing.
• Effective date of changes: September 2, 2026.

Financial Performance

• Q1 FY27 revenue: INR 260.8 crores; vs Q1 FY26: INR 226.9 crores.
• Q1 EBITDA: INR 47.2 crores; margin 18.09%.
• Q1 PBT: INR 30.1 crores; margin 11.56%.
• Q1 PAT: INR 22.46 crores; margin 8.61%.
• Q4 FY26: revenue INR 252.1 crores; EBITDA 44.7; PBT 27.6; PAT 20.6.

Operations & Capacity

• Indore plant: capacity utilization rising; validations complete; depot and microsphere suites nearing operation.
• Indore: 6 lyophilizers; 4 x 100,000-vial lines; 2 x 44,000-vial lines.
• Depot and liposomal lines to be added on one lyophilizer for capacity expansion.
• EU export certificate: Navsari certified; Indore certificate expected in 1-2 months.
• Indore capacity utilization targeted at 40%–45% with current product mix.
• Maximum revenue with current investment: INR 800–1,200 crores (Indore).

GLP-1 & International Strategy

• GLP-1: purely CMO; no front-end revenue; revenue residual in Q1 via Hetero.
• Hetero permission for semaglutide obtained in May 2026; traction expected from Q2.
• Canada fillers tie-up with Revanesse Prollenium; India launch likely by Dec/Jan; revenue from Q2.
• International model shifting to front-end with own field force; potential margins 40–50% in some markets.

Q&A Highlights

• Europe export growth and 8-country registrations; 5 presentations cleared in a single therapy area.
• Indore utilization and export volumes rising; U.S. submissions from partner sites anticipated.
• Filler market in India ~INR 200 crores; potential to move toward toxin+filler leadership in 3–5 years.
• GLP-1 traction to accelerate in Q2–Q3; full GLP-1 revenue remains as CMO only.
• Company targets 15–20% YoY growth; minimum 15% YoY growth commitment.

Outlook & Guidance

• Revenue growth guidance: 15%–20% YoY for FY27.
• No front-end plans for GLP-1; GLP-1 revenue to be captured as CMO.
• Indore capacity expansion and product mix changes expected to drive operating leverage by mid-FY28.

Meeting Details

• Earnings conference call held on August 17, 2026 at 04:30 p.m.
• Type and mode: earnings conference call; audio recording.
• Organiser: Gufic Biosciences Limited.
• Recording availability: audio recording uploaded on company website; transcript to follow.

Participants

• Key participants: management roles not disclosed in the filing.

Purpose

• Purpose: earnings results discussion and investor interaction.

Additional Notes

• Transcript will be submitted in due course; no links provided.