Sahajanand Medical Technologies Limited · NSE:SMT
Sahajanand Medical Technologies — Q2 FY2026-27 Earnings Presentation
32 slides from Sahajanand Medical Technologies's earnings presentation, Nov 5, 2026
Slide 1: Intimation to stock exchanges of investor presentation
Ref: 12/SE/LC/2026-27 Date: November 05, 2026 To, To, National Stock Exchange of India Limited BSE Limited (“BSE”) (“NSE”) Listing Department Listing Department Corporate Relationship Department Exchange Plaza, C-1 Block G, Bandra Kurla Phiroze Jeejeebhoy Towers, Complex Bandra (East), Mumbai – 4000
Slide 2: Sahajanand Medical Technologies Limited Investor Presentation Q2 FY2026-27
Sahajanand Medical Technologies Limited Investor Presentation Q2 FY2026-27 Private and Confidential
Slide 3: Safe Harbor Statement
Safe Harbor Statement This presentation is not an offer, invitation, solicitation or recommendation to buy, sell or subscribe for any securities of the Company. It should not be the basis for any contract, commitment or investment decision. Any offering of securities will be made only through a form
Slide 4: Contents
Contents Q2 and H1 FY27 investor presentation Slides Management commentary 1 4 Message from the Managing Director and CEO Q2 and H1 FY27 financial performance 2 Results snapshot, product and regional mix, and financial KPIs: P&L, balance sheet and returns, cash conversion and cash 5 – 12 flow Operat
Slide 5: Management Commentary
Management Commentary Q2 and H1 FY27: our first results as a listed company “ Q2 FY27 marks our first results as a listed company. I would like to thank our shareholders, physicians, partners and employees for the trust they placed in SMT through our listing on 23rd October 2026, and we remain commi
Slide 6: Q2 and H1 FY27 Financial Performance
Q2 and H1 FY27 Financial Performance
Slide 7: Record Quarter: Highest-Ever Revenue, EBITDA and PAT in Q2 FY27
Record Quarter: Highest-Ever Revenue, EBITDA and PAT in Q2 FY27 Revenue +25%, EBITDA +37% and PAT +27% year on year in Q2 FY27 Revenue EBITDA PAT Q2 FY27 ₹3,734 mn ₹656 mn ₹265 mn +36.6% YoY +26.6% YoY ★ Record quarter +24.7% YoY 17.6% margin (Q2 FY26: 16.0%) 7.1% margin (Q2 FY26: 7.0%) ₹1,141 mn ₹4
Slide 8: H1 FY27 Revenue Up 25%, With Growth Across All Three Categories
H1 FY27 Revenue Up 25%, With Growth Across All Three Categories Revenue mix and year-on-year growth by product category, Q1, Q2 and H1 FY27 Q1 FY27 Q2 FY27 H1 FY27 (Q1 + Q2) 23.6% 26.1% 24.9% ₹3,517 mn ₹3,734 mn ₹7,251 mn +25.2% YoY +24.7% YoY 55.7% +24.9% YoY 60.4% 57.9% 16.0% 18.3% 17.2% YoY growt
Slide 9: H1 FY27 Revenue Up 25%, Led by RoW and Europe
H1 FY27 Revenue Up 25%, Led by RoW (+37%) and Europe (+23%) Revenue share and year-on-year growth by region, H1 FY27 India Europe RoW (APAC, RCIS, LATAM, MEA) +10.4% +23.4% +37.1% 23.7% H1 YoY growth 36.2% H1 YoY growth 40.0% H1 YoY growth ₹1,720 mn ₹2,627 mn ₹2,904 mn Share of H1 Share of H1 Share
Slide 10: Record Q2: EBITDA Up 37% and PAT Up 27% on 25% Revenue Growth
Record Q2: EBITDA Up 37% and PAT Up 27% on 25% Revenue Growth Consolidated profit and loss summary, Q2 and H1 FY27 (₹ mn) ₹ mn Q2 FY27 Q2 FY26 YoY H1 FY27 H1 FY26 YoY Revenue from operations 3,734 2,995 +24.7% 7,251 5,804 +24.9% Cost of goods sold (956) (708) (1,867) (1,396) Gross profit 2,778 2,287
Slide 11: Returns Improving: ROCE at 16.7% and ROE at 11.2%
Returns Improving: ROCE at 16.7% and ROE at 11.2% Balance sheet in sources and application of funds format (₹ mn) ₹ mn 30-Sep-26 31-Mar-26 Total Equity 7,453 7,023 Borrowings 3,017 2,695 Sources of Funds 10,470 9,718 Fixed Assets 3,537 3,524 Net Non-current Assets / (Liabilities) 787 794 Inventory (
Slide 12: Sharper Focus on Cash Conversion: Cycle Down 16 Days to 128
Sharper Focus on Cash Conversion: Cycle Down 16 Days to 128 Receivable, inventory and payable days, FY25 to H1 FY27 DAYS 144 138 128 Days FY25 FY26 H1 FY27 Receivable days 85 83 75 Inventory days 92 87 79 92 87 79 Payable days 33 32 26 Cash conversion cycle 144 138 128 85 83 75 (26) WHAT MOVED, FY26
Slide 13: Cash From Operations Up 2.6x Since FY24, Converting 62% of EBITDA
Cash From Operations Up 2.6x Since FY24, Converting 62% of EBITDA Cash conversion, free cash flow and leverage, FY24 to H1 FY27 (₹ mn) CASH FLOW 37% 57% 62% 41% ₹ mn FY24 FY25 FY26 H1 FY27 Cash from operations 411 735 1,052 473 1,707 Net capex (393) (477) (884) (415) 1,280 1,100 1,141 Lease payments
Slide 14: Operating KPIs and Asset Efficiency
Operating KPIs and Asset Efficiency
Slide 15: Broad Global Reach, With Ample Manufacturing Headroom
Broad Global Reach, With Ample Manufacturing Headroom Countries with commercial presence, installed capacity and capacity utilisation by product and plant Countries with commercial presence Installed capacity and utilisation Capacity (units p.a.) Capacity utilisation Product Plant / line FY26 H1 FY2
Slide 16: Asset-Light Model, With Telangana Capacity in Place for Growth
Asset-Light Model, With Telangana Capacity in Place for Growth Gross tangible fixed asset turnover ratio (GTFAT), before and after the Telangana Plant came on stream GTFAT, FY20–H1 FY27 Telangana Plant (FY26) Pre-Telangana Plant Post-Telangana Plant 7.8x 7.4x 6.5x Plant area in use 33% 4.4x 3.4x 3.5
Slide 17: Product Pipeline and Regulatory Progress
Product Pipeline and Regulatory Progress
Slide 18: Hydra TAVI Built Through Continuous Clinical Iteration
Hydra TAVI Built Through Continuous Clinical Iteration Valve and delivery system refined generation by generation, each step backed by clinical data Clinical and regulatory milestones 2020 Acquired with Vascular 2022 Hydra CE study Jan 2026 Hydra 2.0 Concepts / Innovations 157 patients CDSCO approva
Slide 19: Hydra Elevate: The Proven Hydra Valve, Plus an External Skirt
Hydra Elevate: The Proven Hydra Valve, Plus an External Skirt Same platform carried forward; a polymeric external skirt added to seal the annulus Existing: Hydra New: Hydra Elevate (TAVI 2.0) • Nitinol self-expanding frame • Polymeric external skirt that seals the annulus • Bovine leaflets, internal
Slide 20: AVDC 1.5: Redesigned for Stable, Predictable Deployment
AVDC 1.5: Redesigned for Stable, Predictable Deployment Refined from AVDC 1.0 with a braided capsule, longer in-line sheath and stronger shaft Existing: AVDC 1.0 What's new in AVDC 1.5 Patented delivery system Lag reduced to zero developed after the Vascular Direct 1:1 response between knob and caps
Slide 21: Sironity: SMT's Sirolimus Drug-Coated Balloon
Sironity: SMT’s Sirolimus Drug-Coated Balloon Brings together SMT’s drug-formulation and balloon platforms ★ Commercialised in India Three design levers Proven non-compliant balloon Higher dose, full-circumference 1 Duo nano core formulation 2 3 platform coating 84 sizes: 1.50–5.00 mm, 10–40 mm long
Slide 22: Supraflex Cruz Certified; Four More on Track Ahead of MDR Deadline
Supraflex Cruz Certified; Four More on Track Ahead of MDR Deadline Progress of each product through the EU MDR certification stages Product Notified body Submitted Stage I audit Stage II audit Certified Supraflex Cruz EU MDR certification received. TUV SUD ● ● ● ✓ Pipit NC Szutest ● ● ● ○ Stage I an
Slide 23: Company Overview
Company Overview
Slide 24: Focused on Class III Medical Devices With High Entry Barriers
Focused on Class III Medical Devices With High Entry Barriers Technical complexity, stringent scrutiny, large clinical data and KOL engagement requirements European Barriers to entry in Class III Indian classification classification medical devices Coronary stents, Cardiac catherisation Segment with
Slide 25: Technologically Advanced and "Most Deliverable" Stent in its Class
Technologically Advanced and “Most Deliverable” Stent in its Class… Most deliverable and world’s 1st CE certified biodegradable polymer stent World’s 1st CE Published in Most Deliverable DES 28,383 patients Commercialized in approved in its class, preferred in LANCET Impact factor biodegradable incl
Slide 26: Along with Advanced Structural Heart Products (TAVI and Occluders)
…Along with Advanced Structural Heart Products (TAVI and Occluders) TAVI: Low permanent pacemaker implantation rate (PPI) Self expandable Published in Nitinol stent Commercialized in PPI after 30 days of implant (lower is better) frame TAVI 36 markets 14% 15% CCI JACC b/w FY24-Jun’26 11% 12% ‘Hydra’
Slide 27: Proven R&D Capabilities Across Products and Platform Technologies
Proven R&D Capabilities Across Products and Platform Technologies Structured teams, working in collaborative environment to launch innovative products Robust in-house R&D capabilities Robust in-house technologies and IPs ▪ R&D team of 156 members, with several members having Masters and PhDs Cathete
Slide 28: Integrated Manufacturing across India and Thailand with Room to Scale
Integrated Manufacturing across India and Thailand with Room to Scale Annual capacity and utilisation by plant, with critical components brought in-house Three plants, globally accredited Vertical integration Sachin SEZ, Surat (India) Telangana (India) Nonthaburi (Thailand) Technologies in-house Are
Slide 29: Leadership Team with Global Medtech Experience (1/2)
Leadership Team with Global Medtech Experience (1/2) Senior executives with global medtech experience across R&D, manufacturing and business development Bhargav Dhirajlal Kotadia Amit Kumar Khandelia Priyanka Dhirajlal Cohen Managing Director & CEO Chief Financial Officer Legal Head ▪ Joined SMT in
Slide 30: Leadership Team with Global Medtech Experience (2/2)
Leadership Team with Global Medtech Experience (2/2) Senior executives with global medtech experience across R&D, manufacturing and business development Manoj Jain Abhijeet Singhvi Senior Vice President – Quality & Regulatory Affairs Chief Technology Officer ▪ 28 years of with expertise in QA, ▪ 17
Slide 31: Experienced Board Guiding SMT's Next Phase of Growth
Experienced Board Guiding SMT’s Next Phase of Growth Chaired by a 37-year medtech veteran Board of Directors Dhirajlal Kotadia Bhargav Dhirajlal Kotadia Jose Calle Gordo Priyanka Dhirajlal Cohen Chairman Emeritus and Managing Director and Chairperson and Non-Executive Director Non-Executive Director
Slide 32: Thank You
Thank You Investor Relations [email protected] Sahajanand Medical Technologies Limited Corporate Office: 402 & 412, A-Wing, Kanakia Wall Street, Andheri-Kurla Road, Chakala, Andheri (East), Mumbai, Maharashtra – 400 093
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