The Perungudi-based drugmaker earned ₹182.35 crore in July-September on ₹629.84 crore of sales, and its US injectables arm has already outsold all of last year.
The numbers
Caplin Point Laboratories sells most of its medicines thousands of kilometres from its Perungudi office, in Latin America. The quarter to September added another ₹629.84 crore of operating revenue, 17.9% more than a year earlier, according to the company’s Q2 FY27 earnings presentation, released this week.
Profit grew more slowly than sales.
| Consolidated, ₹ crore | Q2 FY27 | Q2 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 629.84 | 534.04 | 17.9% |
| Total revenue (with other income) | 663.13 | 564.41 | 17.5% |
| Gross profit | 391.17 | 323.74 | 20.8% |
| EBITDA | 256.51 | 219.54 | 16.8% |
| Profit before tax | 232.83 | 201.00 | 15.8% |
| Profit after tax | 182.35 | 160.23 | 13.8% |
Source: Caplin Point Laboratories, Q2 and H1 FY27 earnings presentation (consolidated figures)
Gross margin widened to 62.1% from 60.6%, so the products themselves earned more per rupee sold.
The squeeze came lower down. The profit-after-tax margin slipped to 27.5% from 28.4%, as costs below the gross line rose faster than sales. Earnings per share were ₹23.44 for the quarter.
The first half crossed ₹1,240 crore
For April to September, revenue from operations came to ₹1,240.20 crore, up 18.8%, and profit after tax to ₹361.42 crore, up 16.2%. Operations threw off ₹205 crore of cash in the half. Most of it went back into plants and equipment.
A US business growing at double the rate
The faster story is in the United States. Caplin Steriles USA averaged sales of $61,330 a day, against $32,936 a day in FY26, and its first-half sales have already passed its sales for the whole of last year, the presentation says. Management expects US revenue and profit to double over FY26, from 40 products launched there so far.
Latin America, the older business, is adding tenders. The company has won tenders worth $5.3 million in Central America, about 70% of it oncology, and $5 million in Chile over 18 months, and has started selling cancer drugs in Mexico, where 13 more products are under review.
Much of the new capacity is being built around Chennai, in Tiruvallur district rather than at Puducherry, where a lyophilised-injectables line is complete and a new oral-solid and dermatology facility is still in civil construction for the first quarter of FY28. At Gummidipoondi (கும்மிடிப்பூண்டி), the injectables and ophthalmics plant is targeted for the second quarter of FY28, and a second facility for the US business is due by August 2027. The oncology unit at SIDCO Kakkalur is complete, and an oncology API unit at Thervoy has finished civil work and should run in calendar 2027.
How we worked this out
All figures are the company’s consolidated numbers as printed in its Q2 and H1 FY27 earnings presentation on the Caplin Point investor page. The percentage changes and margins are the company’s own; we did not recalculate them. The presentation file is dated in its name to 11 November 2026.
For Context
Caplin Point closed FY26 with ₹2,303 crore of operating revenue from 23 countries, with Latin America the largest market. It says it has invested more than ₹870 crore in capital projects over the last five years, and that its current budget of over ₹1,000 crore, about half of it nearing completion, will be paid for entirely from internal accruals, keeping the company net cash positive.
Checked against official sources on 13 November 2026.
