Innovassynth Investments Ltd

Financial performance

• Total income for FY2025-26: 10,295.93 Lakhs.
• Revenue from operations: 10,235.21 Lakhs; six-month prior year at 9,831.35 Lakhs.
• EBITDA: (2,463.11) Lakhs; EBITDA margin -24%.
• PBT: (3,973.95) Lakhs; PAT: (2,878.80) Lakhs.
• PAT margin: -27.96%.

Capital structure & liquidity

• Total assets: 27,792.78 Lakhs; equity: 9,449.21 Lakhs.
• Net debt: (11,228.92) Lakhs; gearing 1.19x.
• Borrowings total 10,227.83 Lakhs; long-term 4,860.21; current 5,367.62.
• Rights issue announced May 2026; 1,74,11,380 shares proposed.

Business developments & strategy

• FY26 merger integration; operating business now part of listed entity.
• Life Science and CRDMO platforms emphasized; capex for capacity expansion.
• EcoVadis Gold rating retained; Responsible Care audit completed.
• EDMS and Chromeleon integrated across quality control and analytics.

Governance & disclosures

• Board reconstituted post-merger; Independent Directors added; committee changes.
• Auditors: P G Bhagwat LLP; Secretarial: Amey Lotlikar & Co; Internal audit by KPMG.
• Secretarial audit flagged minor lapses; management implementing corrective measures.
• Name change to Innovassynth Technologies (India) Limited; registered office shift approved.

Operations & capacity

• Manufacturing at Khopoli; 60+ acres; >250 KL capacity.
• R&D: nine labs, 24,000 sq ft; 80+ professionals.
• Export focus: 85-90% of revenue from North America and Europe.

Risks & outlook

• Outlook positive for Life Sciences and Specialty Chemicals; outsourcing demand ongoing.
• Risks: raw material costs, FX exposure, regulatory changes, project delays.
• Near-term volatility expected due to industry inventory adjustments; FY27 momentum anticipated.

Post-year events

• Rights issue completed after FY26; further capitalization planned for FY27.
• NCLT merger approval; corporate name and capital structure adjustments completed.

AGM Details

• AGM on 30 September 2026 at 4:30 PM IST via VC/OAVM.

Ordinary Resolutions

• Adopt audited financial statements for FY2025-26 with Board and Auditor reports.
• Re-appoint Dr Hardik Joshipura as Director (MD & CEO); retirement by rotation; terms/remuneration unchanged.

Director Changes

• Dr Hardik Joshipura to be re-appointed as Director; MD & CEO; retirement by rotation.

Issue overview

• Type: rights issue of equity shares.
• Total size and net proceeds not disclosed.
• Proceeds utilised per Letter of Offer objects.

Utilisation of proceeds

• Utilisation aligned with stated objects; no deviations reported.
• Object-wise details not disclosed in excerpt.
• Unutilised funds status not disclosed.
• Audit Committee reviewed Monitoring Agency Report.

Governance and compliance

• Audit Committee's review completed; other approvals not noted.
• No material events disclosed in excerpt.

Business Overview

• Three business units: Life Sciences & Nucleosides, CRDMO, and Specialty Chemicals; exports ~90%.
• Exports-led model; ~90% revenue from USA and Europe.
• Khopoli facility with 9 plants and 250 KL total capacity.
• Life Sciences capacity expansion to double; CRDMO demand growth.
• Audits with no major observations; robust quality systems.

Operational Highlights

• Order book at Rs 165 crore as of 30 June 2026.
• Revenue and EBITDA improved sequentially and YoY despite logistics challenges.
• Diversified customer base across USA and Europe; strong project pipeline.
• Life Sciences capacity expansion on track; plans to double capacity.

Financial Performance

• Revenue from operations: 5,599 for quarter ended 30 June 2026.
• EBIDTA: 1,497; EBIDTA margin 27%.
• PAT: 674; PAT margin 12%.
• Tax expense: 442; Diluted EPS: 0.80.
• Q1 FY27 revenue rose sharply YoY to 5,599 from 1,227 in Q1 FY26.
• EBITDA margin improved to 27% in Q1 FY27.

Capital Structure & Liquidity

• Market cap ~ INR 1,261 crore; equity shares outstanding ~9.28 crore.
• Market price as of 30-Jun-2026: INR 129.26.

Strategic Priorities & Outlook

• Capacity expansion to double Life Sciences capacity; sustain CRDMO demand.
• Successful audits boost customer confidence; diversified US/Europe base reduces risk.
• Management expects sustained profitability growth with a strong project pipeline.

Risks & Mitigation

• Logistics-related challenges impacting revenue; mitigated by diversified customer base and execution.
• Quality and audits reduce regulatory risk; robust processes support compliance.

Financial Performance

• Revenue from operations: Rs 5,598.59 lakh; total income Rs 5,617.74 lakh.
• Total expenses: Rs 4,502.13 lakh.
• Materials consumed: Rs 1,517.21 lakh.
• Employee benefits: Rs 942.77 lakh.
• Finance costs: Rs 200.31 lakh.
• Depreciation: Rs 199.91 lakh.
• Changes in inventories: Rs 359.40 lakh.
• Profit before tax: Rs 1,115.61 lakh.
• Tax expense: Rs 442.07 lakh.
• Profit after tax: Rs 673.53 lakh.
• Other comprehensive income: Rs 15.14 lakh.
• Tax on remeasurement of defined benefit plans: Rs (5.84) lakh.
• Total comprehensive income: Rs 673.53 lakh.
• EPS (basic/diluted): Rs 0.80.
• Paid-up equity share capital: Rs 9,286.07 lakh.
• Restated Q1 Jun 2025: revenue Rs 1,227.21 lakh; PAT Rs -1,867.35 lakh; EPS -2.47.

Corporate actions & merger

• Merger: 4.7465 crore shares issued; share capital up Rs 13,949.97 lakh.
• NCLT approved merger Nov 14, 2025; effective Dec 19, 2025.
• Name changed to Innovassynth Technologies (India) Limited.
• Rights issue: 1.7411 crore shares at Rs 40; allotment completed May 19, 2026.
• Funds raised: Rs 6,964.55 lakh.
• BSE approval Apr 20, 2026.
• LOF submitted Apr 23, 2026.
• New Labour Codes impact: Rs 80.94 lakh in Employee Benefits (Mar 31, 2026).
• Comparatives for June 2025 restated due to merger.
• Auditors: limited review; not an audit.

Financial results and audit

• Unaudited standalone results for quarter ended 30 June 2026 approved with Limited Review Report.
• Audited results for quarter ended 30 June 2026 approved; Audit Committee reviewed; limited review by statutory auditors.
• Total income for the quarter was Rs 5,617.74 lakh; PAT Rs 673.53 lakh.
• Basic and diluted EPS for the quarter: Rs 0.80.
• Comparatives for June 2025 restated post-merger with ITIL.
• Standalone results only; no consolidated results prepared.

Capital raising and approvals

• Rights issue approved: 1,74,11,380 shares at Rs 40 each, totaling Rs 6,964.55 lakh.
• BSE in-principle approval received April 20, 2026; final Letter of Offer April 23, 2026.
• Rights entitlement: 3 rights for every 13 fully paid shares; allotment completed May 19, 2026.
• Rights issue increased equity; post-issue capital disclosed.
• Name change and corporate rebranding following merger.

Merger with ITIL

• NCLT approved merger by absorption of ITIL; effective December 19, 2025.
• Post-merger, equity issued; capital increased by Rs 13,949.97 lakh.
• Comparatives for June 2025 restated; revenue and PAT restated.
• Consolidation not applicable.

Regulatory/compliance

• New Labour Codes: Rs 80.94 lakh impact recognized in employee benefits expense.
• Rules to be accounted for as notified by government.
• Company renamed to Innovassynth Technologies (India) Limited.

Auditor and controls

• Auditors' report on restated results notes no material misstatement; limited review.

Meeting Details

• Meeting date: August 12, 2026; time and venue not disclosed.

Key Agenda Items

• Consider and approve unaudited standalone financial results for the quarter ended June 30, 2026.

Other Notes