ADVERTISEMENT
Orchid Pharma Q2 Review: Systematix Maintains 'Buy' Despite Earnings Collapse — Here's Why
Orchid Pharma's valuation stays rich at 67x FY26 P/E despite negative earnings trajectory, adds Systematix.
12 Nov 2025, 10:40 AM IST 
Save
During the quarter, Orchid Pharma has not realized any royalty from Enmetazobactam sales as the Allecra transaction was not closed until end of Q2 FY26.
(Image Source: Freepik)
Orchid Pharma's Q2 F26 revenue (Rs 1,935 million, lower 13.1% YoY) was in line with estimates but Ebitda (Rs -15 million) and net earnings (Rs -57 million) were significantly below brokerage's/consensus expectations. Margins disappointed as company witnessed unprecedented pricing and volume pressures (even worse than Q1).
