Divi’s Laboratories’ second-quarter profit rose 63.6% to ₹1,127 crore, outpacing revenue growth, as reported brokerage views ranged from higher price targets to a retained Sell rating for the Indian drugmaker.
Revenue from operations was ₹3,676 crore in the quarter ended Sept. 30, 2026, compared with ₹2,715 crore in the same period a year earlier. Net profit was ₹1,127 crore, up from ₹689 crore. That represents a 35.4% rise in revenue and a 63.6% gain in profit, according to the unaudited consolidated filing with the National Stock Exchange of India.
Divi’s board approved the results on Nov. 7, and statutory auditors conducted a limited review and issued an unmodified report. The quarter covered July through September, the second quarter of the company’s fiscal 2027 year.
NDTV Profit reported Nov. 9 that Goldman Sachs retained Buy and raised its target to ₹11,700 from ₹10,225. Jefferies also kept Buy, increasing its target to ₹12,550 from ₹10,200. JPMorgan maintained Overweight and lifted its target to ₹12,500 from ₹9,100. Among those revised targets, Jefferies’ ₹12,550 was above the ₹11,700 from Goldman Sachs and ₹12,500 from JPMorgan.
NDTV Profit attributed Goldman Sachs’ view to expected revenue growth through fiscal 2029, custom-synthesis growth and GLP-1 commercialization. It said Jefferies cited CDMO commercialization prospects, peptide opportunities and 60 to 70 development programs. JPMorgan’s reported rationale included three dedicated CDMO programs nearing commercialization and more peptide capacity.
Kotak retained a Sell rating and ₹8,550 target, NDTV Profit reported, citing valuation concerns and Divi’s exposure to Entresto. Across the four firms, three retained Buy or Overweight ratings and raised targets, while Kotak’s rating and target held. Divi’s filing places its active pharmaceutical ingredients, intermediates and nutraceutical ingredients in one reporting segment. The calls differed on the company’s prospects despite the quarter’s higher profit and revenue.
