First half revenue from operations up 6 per cent

Syngene International announced financial results for the second quarter and half year of FY26.

Peter Bains, MD and CEO, Syngene International, said, “Our Q2 performance was driven by underlying revenue growth from research services which compensated for the anticipated inventory correction in biologics manufacturing. We are maintaining our annual guidance for revenue for FY26. This quarter, we won our first contract for a global phase III clinical trial from a U.S.-based biotech company which will recruit patients across clinical sites in U.S. and India. In line with our plans to strengthen our capabilities in new modalities, we are building a new GMP bioconjugation suite in the biologics facility in Bengaluru. This will enable end-to-end manufacturing of Antibody Drug Conjugates (ADCs), placing us amongst a select group of CRDMOs with full-service ADC capabilities.From a broader perspective, the U.S. biotech funding environment is showing early signs of improvement. We continue to monitor trends and maintain agile strategies to adapt quickly as the funding environment evolves.”

Deepak Jain, Chief Financial Officer, Syngene International, said, “Our strong balance sheet and net cash position provide the financial flexibility to invest in key strategic priorities to support our growth. The Company is investing in dedicated facilities for peptides and ADCs augmenting our platforms in the fast-growing new biologics modalities. With diversified service offerings across the value chain and available biologics manufacturing capacity, we are well-placed to capitalise on opportunities that will drive medium to long-term growth. We are maintaining our EBITDA and PAT margin guidance for the full year.”