News ArticleSahajanand Medical Technologies Posts Highest-Ever Q2 FY27 Revenue of INR373 crores, EBITDA Grows 36.6%
Broad growth across all product lines and regions drives margin expansion to 17.6% EBITDA with PAT of INR26 crores
Sahajanand Medical Technologies Limited posted record financial results for Q2 FY27 with revenue rising 24.7% to INR373 crores, EBITDA up 36.6% to INR65 crores, and PAT increasing 26.6% to INR26 crores. Growth was broad-based across product categories and geographies, with operating efficiency improving margins to 17.6% EBITDA margin for the quarter.
Sahajanand Medical Technologies Limited
Earnings Call Transcript
Sahajanand Medical Technologies Limited recorded its strongest quarter to date in Q2 FY27, achieving revenue growth of 24.7% to INR373 crores, with EBITDA and profit after tax increasing 36.6% and 26.6% respectively. The company reported broad-based growth across vascular intervention, structural heart, and other product categories, alongside geographic expansions, particularly in Rest of World and India markets.
The company’s revenue for the first half of FY27 also grew 24.9% to INR725 crores, with EBITDA rising 43.4% to INR114 crores and PAT of INR41 crores (reported) showing an underlying growth of approximately 39% excluding prior period tax credits.
By product category, vascular intervention remained central, accounting for 58% of H1 revenue with a 16% year-on-year increase. Structural heart products, including TAVI and occluders, accelerated about 40% in Q2 FY27. Other product sales, driven by IVUS in Europe, rose 52% in H1.
Geographically, the Rest of World region grew fastest at 37% for H1, becoming the largest region constituting 40% of total revenue. Europe maintained steady 23% growth and accounted for 36% of revenue. India’s growth sped up from 6% in Q1 to 15% in Q2.
Margins improved with EBITDA margin expanding from 16% to 17.6% in Q2 FY27, supported by reduced employee and other expenses ratios. Gross margin dip to 74.3% was attributed to product and regional mix shifts and cost inflation, including investments in quality.
Return ratios showed improvement with ROCE rising from 12.2% to 16.7%, and ROE from 9.8% to 11.2%. Capital employed grew INR72 crores during H1, primarily due to working capital requirement for growth. Cash conversion cycle improved, declining from 144 days in FY25 to 128 days in H1 FY27.
Highlights
- Q2 FY27 revenue rose 24.7% to INR373 crores, the highest-ever quarterly revenue.
- EBITDA increased 36.6% to INR65 crores with EBITDA margin improving to 17.6%.
- PAT grew 26.6% to INR26 crores during Q2 FY27.
- Product growth was broad-based: vascular intervention (+16% H1), structural heart (+40% Q2), others (+52% H1).
- Rest of World region grew 37% in H1 FY27 and now represents 40% of revenue.
- Gross margin at 74.3% for H1 FY27 due to product and regional mix and input cost rises with stable pricing policies, including quality investments.<br>Employee and other expenses fell as a % of revenue, contributing about 350 basis points’‐
Key Data Snapshot
What happened
- Sahajanand Medical Technologies recorded its highest-ever quarterly revenue of INR373 crores in Q2 FY27, growing 24.7% year-over-year.
- EBITDA rose 36.6% to INR65 crores and PAT increased 26.6% to INR26 crores in the same period.
- Growth was broad-based across products: vascular intervention, structural heart, and other devices.
- Geographically, Rest of World region led with 37% revenue growth in H1 FY27; India and Europe also reported solid growth.
- EBITDA margin improved from 16% to 17.6% due to operating efficiencies and cost optimization.
Key details
- Vascular intervention products accounted for 58% of H1 FY27 revenue, up 16% year-on-year.
- Structural heart products, including TAVI and occluders, grew approximately 40% in Q2 FY27.
- Other product categories grew 52% in H1 FY27, driven largely by IVUS sales in Europe.
- Gross margin declined by 170 basis points to 74.3%, primarily from product mix and elevated input/labor costs.
- Employee costs reduced from 28.8% to 27.1% of revenue; other expenses decreased from 31.5% to 29.7%.
- Return on capital employed rose to 16.7% (annualized) and return on equity to 11.2%.
- Cash conversion cycle improved, reducing from 144 days in FY25 to 128 days in H1 FY27.
Financial performance
- Half year revenue increased 24.9% to INR725 crores; EBITDA rose 43.4% to INR114 crores with 15.7% margin.
- Reported H1 PAT of INR41 crores was affected by a prior year tax credit; adjusted PAT growth was about 39%.
- Capital employed increased by INR72 crores, mainly due to higher working capital requirements.
- Cash flow from operations increased 2.6 times in two years, reaching INR105 crores in FY26.
- Free cash flow was positive in FY25 and FY26; slightly negative in H1 FY27 after INR41 crores capex.
- Net debt stood at INR223 crores at the end of September with a net debt to EBITDA ratio close to 1x.
Highlights
- Q2 FY27 revenue rose 24.7% to INR373 crores, the highest-ever quarterly revenue.
- EBITDA increased 36.6% to INR65 crores with EBITDA margin improving to 17.6%.
- PAT grew 26.6% to INR26 crores during Q2 FY27.
- Product growth was broad-based: vascular intervention (+16% H1), structural heart (+40% Q2), others (+52% H1).
- Rest of World region grew 37% in H1 FY27 and now represents 40% of revenue.
- Gross margin at 74.3% for H1 FY27 due to product and regional mix and input cost rises with stable pricing policies, including quality investments.<br>Employee and other expenses fell as a % of revenue, contributing about 350 basis points’‐
Disclosures
- Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
More News on Earnings Call Transcript
View allLatest corporate announcements and market updates in Earnings Call Transcript.
Ravindra Energy Limited Posts INR 190 Crores Revenue in Q2 FY27 with 261 MW Renewable Capacity and Strong Heavy EV Sales
Ravindra Energy Limited reported its financial and operational performance for Q2 and H1 of FY27, reaching a renewable energy operating capacity of 261.21 MW and generating 6.6 million units in Q2. The company's consolidated revenue totaled INR 190 crores in the quarter, driven by electricity generation, trading, and EPC businesses. Its heavy electric vehicle segment showed strong momentum with 142 vehicles sold in Q2 and plans to expand its charging stations network to 15 by December 2026.
Read Full Story
Lloyds Metals and Energy Records 94% H1 FY27 Revenue Growth to INR 9,545 Crore Amid Pellet Plant Expansion
Lloyds Metals and Energy Limited reported its best-ever first half performance for fiscal year 2027, achieving revenue of INR 9,545 crore, a 94% increase compared to the previous year. The surge was driven by higher iron ore extraction limits and accelerated ramp-up of its pellet plants, alongside improved sponge iron output.
Read Full Story
Greenlam Industries Publishes Q2 FY2026-27 Earnings Call Audio Recording for Investor Access
Greenlam Industries Limited has uploaded the audio recording of its Q2 FY2026-27 earnings conference call held on November 6, 2026, allowing investors and analysts to review the discussion on the company’s operational and financial results for the quarter.
Read Full Story
