On the back of strong growth in Vitamin D3 - Human Nutrition: 

• Consolidated Revenue for 9MFY26 INR 421.2 crore, up by INR 83.6 crore YoY • Consolidated EBITDA for 9MFY26 INR 97.2 crore, up 20% YoY 
• Q3FY26 Consolidated Revenues INR 140.5 crore, down 11% YoY; up 4% QoQ 

Mumbai, 9 February 2026: Fermenta Biotech Limited, India’s leading manufacturer of premium-grade  APIs, intermediates, and mixes of vitamins and minerals for the global markets, today announced that its  consolidated revenue (other than from real estate) for the nine months ended 31 December 2025 was  INR 413.6 crore, up 41% from the same year-ago period; EBITDA for the nine months ended 31 Decem ber 2025 was INR 95.1 crore, up 86% from the same year-ago period on the back of strong growth in  Vitamin D3 - Human Nutrition.  

Key financials (consolidated) without real estate 

Key financials (consolidated) with real estate 

Revenue mix (consolidated) 

Performance highlights  

• Human nutrition segment volumes grew 46% over 9MFY25 
• Animal nutrition segment volumes grew 52% over 9MFY25 and average realization down by 8%  over 9MFY25 
• Green chemistry sales in 9M FY26 surpassed those in full-year FY25, with 9M FY26 sales at INR  9 crore compared with INR 7 crore in FY25 
• Other Income includes non-recurring insurance claim received amounting to INR 2.7 crore in  Q1FY26 and 9MFY26
• Our German toll manufacturing subsidiary's 9MFY26 revenue was INR 65.4 crore, up 147% YoY  from the same period a year ago, with EBITDA at INR 11.2 crore, up 28% YoY. Our US trading  business subsidiary's 9MFY26 revenue was INR 37.5 crore, up 4% from a year ago, with EBITDA  at INR 1.1 crore loss against INR 1.6 crore profit in the same period a year ago. 
• Continued utilisation of slow moving semi-finished inventory used in animal feed production resulted in further reversal of INR 2.0 crore in the current quarter. 
• The Board of Directors of the Company at its meeting held on 19 September 2025 approved  transfer of the ‘Environment Division’ as a going concern on a slump sale basis, effective 01 Oc tober 2025, to its wholly owned subsidiary, Fermenta Environment Solutions Private Limited,  for a sales consideration of INR 19 crore. 
• On 21 November 2025, the Government of India notified four new Labour Codes , which have  resulted in a one-time, exceptional expense of INR 2.19 crore towards employee benefits. 
• On 10 December 2025, the Board approved INR 110 crore capex at Dahej for plant-based Vita min D3 (with Indian patent protection), green chemistry enzymes (CAL-B Lipase and Penicillin  G Acylase), and Vitamin D3 derivatives, reinforcing Fermenta's leadership in sustainable bio catalysis and Vitamin D3 innovation. 

Commenting on the results, Prashant Nagre, Managing Director, said: 

“The turnaround of FY25 was further confirmed in 9MFY26. While growth of revenue, excluding that  from real estate unlocking, was 57% in FY25 over FY24, in 9MFY26 revenue was already 96.9% of  that achieved in full FY25.  

Our 9MFY26 EBITDA (excluding real estate) demonstrates robust operational leverage—in just nine  months of FY26, we have already surpassed our full-year FY25 EBITDA by 14.1%. 

While human nutrition volumes grew by 43% in FY25 over FY24, we have further seen the volumes  grow by 46% in 9MFY26 over 9MFY25. 

Our sustained volume momentum, combined with improving margins, positions Fermenta well for con tinued value creation 

We remain focused on scaling our core human nutrition business while exploring strategic opportunities  Our INR 110 crore capex at Dahej will establish commercial-scale production of plant-based Vitamin  D3—for which we hold Indian patent protection—alongside expanded enzyme capacity and new Vita min D3 derivatives. This strengthens our position as one of the world's leading fully integrated Vitamin  D3 manufacturers while positioning us at the forefront of sustainable biocatalysis.

Geographical Revenue Mix (consolidated) excluding real estate value unlocking