Conference Call with Alivus Life Sciences Management and Analysts on Q3FY26 Performance and Outlook. Listen to the full earnings transcript.
Pharmaceuticals company Alivus Life Sciences announced Q3FY26 results Revenue from operations of Rs 6,729 million, the highest ever quarterly revenues. This marks a growth of 14.4% QoQ and 4.8% YoY. EBITDA was at Rs 2,452 million, a growth of 26.5% QoQ and 22.1% YoY. EBITDA margins were at record high at 36.4%, up 340 bps QoQ and 510 bps YoY. PAT for Q3FY26 stood at Rs 1,503 million, a growth of 15.5% QoQ and 9.7% YoY. PAT margins were at 22.3%, up 100 bps YoY. Yasir Rawjee, MD & CEO, Alivus Life Sciences, said: “This quarter showed a clear improvement in our operating performance. The CDMO business recovered as expected, delivering the turnaround we had planned for in the second half of the year. We also saw robust growth in Non-GPL business especially across our key markets, including Europe, Japan, LATAM, ROW, and India, which collectively grew by 16% YoY during 9MFY26, in-line with our guidance. For full year, we expect Non-GPL to sustain its growth momentum, reinforcing our confidence in delivering high single-digit revenue growth for FY26. Driven by the strength of our core business and increased contributions from new product launches, we remain confident of sustaining margin expansion in the current year. Our focus continues to be on building a sustainable, long-term business through high-quality offerings, innovation, and scalable operations.” Tushar Mistry, CFO, Alivus Life Sciences, said: “Our focus on disciplined and sustainable growth translated into a strong performance this quarter, with revenues reaching Rs 6,729 million. This was accompanied by an EBITDA margin of 36.4%, the highest we have achieved so far, reflecting the strength of our diversified product portfolio and continued improvements in operational efficiency. We also remain in a strong financial position, operating as a net debt-free company. Generated free cash flow of Rs 2,207 million during 9MFY26, and cash and cash equivalents were at Rs 7,330 million as of 31st December 2025.” Result PDF
Pharmaceuticals company Alivus Life Sciences announced Q2FY26 results For Q2FY26, Alivus registered a Revenue from operations of Rs 5,880 million, a growth of 16.0% YoY. For Q2FY26, EBITDA was at Rs 1,939 million, a growth of 35.7% YoY. EBITDA margins were at 33.0%, up 480 bps YoY. PAT for Q2FY26 stood at Rs 1,301 million, a growth of 36.5% YoY and PAT margins were at 22.1%, up 330 bps YoY. Yasir Rawjee, MD & CEO, Alivus Life Sciences, said: “Our performance, this quarter, was fuelled by strong momentum in the non-GPL business, which delivered an impressive 39.7% YoY growth. Non-GPL business has shown a robust performance over last four quarters, driven by healthy demand across key geographies including ROW, LATAM, Japan, Europe, and India, all of which contributed meaningfully to the overall performance. As we look forward, we remain confident of delivering a stronger performance in second half. This outlook is supported by continued robustness in non-GPL business and a better visibility on GPL business. Moreover, a continued ramp-up of our CDMO projects gives us confidence in the overall growth of our business. We remain confident of maintaining margins at around 30%, despite the absence of PLI benefits. The margins are reinforced by a robust pipeline of new launches and operational efficiencies.” Tushar Mistry, CFO, Alivus Life Sciences, said: “At Alivus Life Sciences, we delivered a strong revenue growth of 16% in Q2FY26. During the quarter, gross and EBITDA margins were at 57.7% and 33% respectively, at the upper end of our guided ranges of above 55% and 30%, supported by a favourable product mix, successful new launches, and continued cost efficiency. Notably, we maintained margins beyond our guidance even without the PLI scheme benefits, reflecting the robustness in our operations. The Company generated strong cash flow from operations of Rs 148 crore in Q2FY26, with cash & cash equivalents of Rs 653 crore on the books as of 30th September 2025, providing ample support for our ongoing growth plans and allowing us to sustain a healthy, debt-free balance sheet.” Result PDF
Conference Call with Alivus Life Sciences Management and Analysts on Q2FY26 Performance and Outlook. Listen to the full earnings transcript.
Pharmaceuticals company Alivus Life Sciences announced Q1FY26 results Revenue from operations for Q1FY26 reached Rs 6,018 million, a growth of 2.2% YoY. EBITDA was at Rs 1,813 million, a growth of 9.9% YoY. EBITDA margins were at 30.1%, up 210 bps YoY. PAT for the quarter stood at Rs 1,215 million and PAT margins were at 20.2%. During Q1FY26, the company generated a strong free cash flow of Rs 1,000 million leading to Cash and Cash Equivalents (including short term investments) of Rs 6,604 million as of June 30, 2025. Yasir Rawjee, MD & CEO, Alivus Life Sciences, said: "Our performance this quarter was primarily driven by strong growth in the Non-GPL business, which expanded by 14.5% YoY. Key regions including India (Ex-GPL), Europe, ROW, LATAM, and Japan were major contributors to this growth. We remain confident of achieving high single-digit revenue growth in FY26, with stronger momentum expected in the second half. Margins are projected to remain healthy in the 28–30% range. Our ongoing investments in capacity building and pipeline enrichment form the foundation of our future growth, and we believe these efforts, supported by an increasingly favourable market environment, will help unlock further value." Tushar Mistry, CFO, Alivus Life Sciences, said: "Q1FY26 witnessed robust revenues of Rs 602 crore, while consistently maintaining our gross margin at ~55% and EBITDA margin around ~30%, well within our guided range. This financial discipline, coupled with a healthy free cash flow of Rs 100 crore during the quarter, strengthens our debt-free balance sheet and positions us well to achieve the high single-digit growth we anticipate for the full year." Result PDF
Pharmaceuticals company Alivus Life Sciences announced Q4FY25 & FY25 results Q4FY25 Financial Highlights: Revenue from operations for Q4FY25 reached Rs 6,496 million, a growth of 21.1% YoY and 1.2% QoQ. For Q4FY25, EBITDA was at Rs 2,085 million, a growth of 44.2% YoY and 3.8% QoQ. EBITDA margins were at 32.1%, up 520 bps YoY and up 80 bps QoQ. PAT for the quarter stood at Rs 1,419 million and PAT margins were at 21.8%. FY25 Financial Highlights: For FY25, revenue from operations was Rs 23,869 million, a growth of 4.5% YoY. EBITDA for FY25 was at Rs 7,172 million while EBITDA margins stood at 30.0% as compared to 30.1% in FY24 despite the absence of PLI benefit in the current year. For FY25, the company recorded PAT of Rs 4,857 million with PAT margins of 20.3%. During FY25, the company generated a strong free cash flow of Rs 2,328 million leading to Cash and Cash Equivalents (including short term investments) of Rs 5,487 million as of 31 March 2025. Commenting on the company’s performance Yasir Rawjee, MD & CEO, Alivus Life Sciences said, "FY25 was our first full year under the Nirma ownership. Our overall performance has remained consistent with past years, with sustained margins, despite facing external challenges, most notably the loss in PLI revenue. The road ahead has significant opportunities for which we have begun working in earnest via capacity investments and the integration of newer technologies into R&D; and manufacturing operations One of the most encouraging outcomes this year was our ability to maintain EBITDA margins at 30%, even in the absence of PLI benefits and amid market headwinds. This reflects the strength of our diversified portfolio and our continued focus on operational efficiency. Our full-year sales grew by 7.1%, normalizing for the PLI benefit last year and backed by healthy contributions from both GPL and Non-GPL segments. As we move into FY26, we remain committed to delivering sustainable growth with stable margins, while continuing to invest in our core growth drivers, expanding our product pipeline, and scaling our operations to create long-term value." Tushar Mistry, CFO, Alivus Life Sciences said, "We delivered strong revenue growth of 21.1% in Q4FY25, with 520 bps improvement in EBITDA margins at 32.1%. We concluded the year on a positive note, with full-year revenue growth of 7.1% normalised for PLI benefits, which has been in line with our earlier guidance. For FY25, both gross margins and EBITDA margins remained stable at ~55% and ~30% respectively, supported by a favourable product mix and cost discipline. Notably, we maintained EBITDA margins of 30% without PLI scheme benefits, a strong validation of our operational resilience. Alivus Life Sciences has generated healthy cash flows of Rs 233 Crore during the year, which supports our growth initiatives while enabling us to maintain a debt-free balance sheet." Result PDF
Pharmaceuticals company Alivus Life Sciences announced 9MFY25 & Q3FY25 results Revenue from operations for Q3FY25 reached Rs 6,418 million, a growth of 12.0% YoY and 26.6% QoQ. For 9MFY25, revenue from operations was Rs 17,373 million. For Q3FY25, EBITDA was at Rs 2,008 million, a growth of 15.2% YoY and 40.5% QoQ. EBITDA margins were at 31.3%, up 90 bps YoY and 310 bps QoQ. EBITDA for 9MFY25 was at Rs 5,086 million while EBITDA margins stood at 29.3%. PAT for the quarter stood at Rs 1,370 million and PAT margins were at 21.3%. For 9MFY25, the company recorded PAT of Rs 3,438 million with PAT margins of 19.8%. During 9MFY25, the company generated a strong free cash flow of Rs 1,838 million leading to Cash and Cash Equivalents (including short term investments) of Rs 4,993 million as of 31 December 2024. Yasir Rawjee, MD & CEO, Alivus Life Sciences, said: “The start of the new year marks a notable shift for us as we transition to Alivus Life Sciences. I am pleased to report that our Q3 performance reflects this renewed energy, with growth across both GPL and Non-GPL segments. Geographically, regions like India, Europe, ROW and Japan contributed to the growth. Our quest for high-quality, innovative solutions and scalability continues, in order to build a sustainable business over the long term.” Tushar Mistry, CFO, Alivus Life Sciences, said: “Our emphasis on achieving quality growth has delivered encouraging outcomes with highest ever quarterly revenue at Rs 6,418 million. This translated to steady gross margins at ~56%, while our EBITDA grew by 15.2% YoY, underscoring our ability to cater a diversified product range while maintaining stringent cost efficiency." Result PDF