BSECompany Update13 Aug 2026 · 13 Aug 2026, 12:49 am
Please find enclosed herewith the copy of Press Release made to analysts and investors in connection with the Unaudited Consolidated & Standalone Financial Results for quarter ended June 30, 2026.
Natural Capsules Ltd · 524654
✦ AI SummaryResults
Natural Capsules Ltd reported its Q1FY27 results, with revenue of ₹4871 Cr, EBITDA of ₹1.12 Cr, and EBITDA margins of 2.30%. The company witnessed sustained demand across its capsule products and improved realisations, but faced challenges in the HPMC segment due to uncertainty in the US market. The API business presented a mixed picture, with ongoing geopolitical uncertainty and headwinds from the depreciation of the Indian rupee.
Analysis Scores
Earnings Impact6/10
Growth Catalyst4/10
Governance Concern1/10
Regulatory Risk2/10
Balance Sheet Risk3/10
Liquidity Impact8/10
Market Sentiment5/10
✦ Ask a Question
Ask anything about this announcement — AI will answer based on the filing content.
Full Announcement
Natural Capsules Ltd - 524654 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
Attachments (1)
📄pdf
Download →
674b7bf3-4806-47b6-bf40-ab84bea4ac35.pdf
View document text
NHTUHHL 150 150 e Fl\)e\OS E N<"
c fl P S U Le S Q9qu0a0l1k y :2015 e}n1v4i0r0o1n me:n2t0a1l5 ] ey" +% -o
i Management// Management // Hiah &55fe F L %, &
e g gy
LIMITGD VG - Caps
CORP & REGD OFFICE : “ TRIDENT TOWERS” No. 23. 4th Floor, 100 2nd Block, Bangalore-560011
Phone : 080-26561562 / 1571 /1573 /581 URL : www.naturalcapsules.com Email : infot@naturalcapsule: om, CIN No. : LRS1T0KA1993PLCO14742
Date: August 13, 2026
To To
BSE Limited National Stock Exchange of India Limited
25th Floor, PJ Towers Exchange Plaza, C-1, Block G
Dalal Street, Bandra Kurla Complex, Bandra (E)
Mumbai — 400001 Mumbai — 400051
Scrip Code: 524654 Symbol: NATCAPSUQ
Subject: Press Release
Dear Sir/ Madam,
Pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015, please find enclosed herewith the copy of press release made to analysts and investors in connection
with the Unaudited Consolidated & Standalone Financial Results for quarter ended June 30, 2026.
Request you to please take note of the same.
Yours Faithfully,
For Natural Capsules Limited
Akshay Dutta
Company Secretary and Compliance Officer
M.No. A80481
Unit - I': Plot No. 7A2, KIADB Industrial Area, Attibele-562 107, Bangalore. Tel : 08110-645068, Fax : 080-27820325
Unit- I1: R.S. No. 84, Perambai Road, Pitchaiveeranpet, Pondicherry - 605 010. Tel : 0413-2290833, Fax : 0413-2293251
(1)) NATURAL
Q1FY27 RESULTS CAPSULES
UMITED
NATURAL CAPSULES LIMITED REPORTS Q1FY27 RESULTS
Bangalore, August 12th, 2026: Natural Capsules Limited, one of India’s leading manufacturer of hard capsules
shell has announced its financial results for the quarter ended June 30", 2026.
FINANCIAL HIGHLIGHTS FOR QUARTER ENDED JUNE 30t", 2026
REVENUE %4871 Cr eBitDA % 1.12 Cr EBITDAMARGINS 2.30%
© (17%) ® 8% © (16%) ® 251% @® 2BPS @® 159 BPS
PAT (X5.74Cr) s (X5.55) Key
® 15% ® 3% ®15% ® 3% ® Q-0-Q ® Y-o-Y
COMMENTING ON THE PERFORMANCE, MR. SUNIL MUNDRA, EXECUTIVE DIRECTOR, SAID,
“QTFY27 was a strong operational quarter for the capsules business. As communicated previously, the reported numbers are not directly
comparable to the preceding quarter, which had benefited from the dispatch of deferred inventory following the Puducherry plant
shutdown. On an underlying basis, however, the business delivered a healthy performance.
During the quarter, we witnessed sustained demand across our capsule products alongside an improvement in realisations. We were
able to successfully navigate the rise in input costs through timely pass-throughs to customers, which supported margin preservation.
The gelatine capsules business in particular delivered healthy margins, and we remain confident of sustaining this level of profitability
through the remainder of the year.
It is also worth noting that the implementation of a new ERP system towards the close of the quarter resulted in a brief disruption to our
billing and dispatch cyde, with sales in the final five days of Q1 being pushed into Q2. Absent this impact, the reported revenue for the
quarter would have been modestly higher. Separately, the depreciation of the rupee during the quarter provided a meaningful tailwind
to our export realisations. We are pleased to report that demand trends have remained firm into Q2FY27, and we are confident of a
sustained performance in the capsules business through the finandal year.
On the HPMC segment, the demand environment in the US market has remained erratic, compounded by continued uncertainty around
duty structures. Given these conditions, and with no material US export volumes during the quarter, we have taken the pragmatic
decision to temporarily convert one of our HPMC lines to a gelatine line in order to optimise capacity utilisation and protect overall
profitability. A second HPMC line is expected to be similarly converted in the coming month. We will continue to monitor the US market
environment and review our HPMC capacity deployment accordingly.
On the API business, Q1FY27 presented a mixed picture. Ongoing geopolitical uncertainty weighed on business operations during the
quarter. The concurrent appredation of the Chinese yuan and depreciation of the Indian rupee created headwinds for our African export
business routed through merchant exporters, which moderated volumes in that segment.
Notwithstanding these near-term pressures, we made meaningful operational and strategic progress. The first batch under our contract
manufacturing agreement with Fermbox Bio commenced in August, marking an important milestone in that collaboration. We have
additionally executed a new contract manufacturing agreement with a Mumbai-based client, further building our CMO pipeline.
On the technical front, we successfully completed prednisolone synthesis at gram-scale batches during the quarter, and we expect to
produce our first fully backward-integrated prednisolone batch by the end of September. Separately, one of our fermentation steps has
been successfully transitioned to an enzymatic route, resulting in meaningfully improved yields and cost optimisation. These
developments directly strengthen the unit economics of our APl operations.
From a regulatory standpoint, WHO GMP application process has been initiated and we expect the associated audit to be conducted by
the end of Q2FY27. We have also made an important leadership appointment, bringing on board a Chief Operating Officer for the API
business; a seasoned professional with over 30 years of industry experience, including a prior stint at Shilpa Medicare. This appointment
reflects our commitment to building the organisational depth required to scale this business meaningfully.
We enter Q2FY27 with improved visibility across both segments. Our priorities are scaling APl volumes, sustaining profitability in the
capsules business, and progressing critical requlatory milestones. With a strengthened team and defined strategic direction in place, we
remain confident in the Company's ability to deliver sustained growth in the periods ahead.”
LES LIMITED
(1)) NATURAL
Q1FY27 RESULTS CAPSULES
UMITED
ABOUT NATURAL CAPSULE LIMITED (NCL)
Natural Capsules Limited (NCL) is a hard capsule shell manufacturer, who pioneered manufacturing of vegetarian
capsules in India and is the second largest Indian manufacturer for gelatin capsules. The company was incorporated
as a Public Limited Company in 1993 at Bangalore, and it further expanded its operations to Pondicherry in 2003.
The company is now foraying into API manufacturing with complex high-end patented technology developed in-
house, under its subsidiary company Natural Biogenex Private Limited.
For further details please get in touch with
Pranjal Deshmukh Abhishek Mehra
NATURAL CAPSULE LIMITED TIL ADVISORS PRIVATE LIMITED
Email: company.sec@naturalcapsules.com Email: abhishek@theinvestmentlab.in
Cliekret aigno vesrtnatmeemnetn tsa ctiino rtsh,i s lodcoalc,u mpeanlitt icatlh ato r aree connoto mihcis todriecvaell ofpamctesn tasr,e ftoercwhanrodl ogliocoakli ngn isksst,a teamnedn tsm.a nyS ucoht hefro rwfaacrtdo rsl ootkhaitn g cosutlad tecmaeunstes aacrteu als ubjreescdtu itst o toc erdtiafifne r rimsaktse rainadl ly unfcreormt aitnhtoisees
contemplated by the relevant forward- looking statements. Natural Capsules Limited wil not be in any way responsible for any action taken based on such statements and
undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.