Alivus Life Sciences (ALVUS) Q4 25/26 earnings summary

Executive summary

• Completed two years under new promoter Nirma, enhancing financial strength and business resilience, with strategic transformation enabling capital allocation for growth and capacity expansion.

• FY26 revenue grew 6.9% year-on-year to ₹25,518 million, with Q4 revenue at ₹6,891 million, driven by broad-based regional momentum.

• EBITDA for FY26 rose 19.6% year-on-year to ₹8,577 million, with margins expanding to 33.6% (up 360 bps YoY); Q4 EBITDA margin was 34.4%.

• Non-GPL business grew 13% year-on-year, now contributing 71% of total revenue, while CDMO business delivered 18% growth and now contributes 7% of revenue.

• Audited financial results for FY26 were approved with an unmodified audit opinion from statutory auditors.

Financial highlights

• FY26 revenue: ₹25,518 million, up from ₹23,868.84 million in FY25; Q4 revenue: ₹6,891 million, up 6.1% year-on-year.

• FY26 EBITDA: ₹8,577 million, up 19.6% year-on-year; EBITDA margin at 33.6%, up 360 bps.

• FY26 PAT: ₹5,645 million, PAT margin at 22.1%; Q4 PAT margin was 23.6%.

• Gross margin for FY26: 58.2%, up 350 bps; Q4 gross margin: 60.7%, up 420 bps.

• Cash and equivalents at ₹7,824 million as of March 31, 2026.

Outlook and guidance

• Confident in sustaining EBITDA margins above 30% despite external uncertainties, with high single-digit revenue growth expected for FY27.

• FY27 CapEx planned at ₹5,400 million, fully funded by internal accruals.

• Capacity to increase from 1,198 KL in FY24 to 2,690 KL by FY28.

• Monitoring regulatory developments regarding new Labour Codes for future accounting effects.