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NATCO Pharma (NATCOPHARM) investor relations material
NATCO Pharma Q2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 25/26 earnings summary14 Nov, 2025
Executive summary
Consolidated revenue for Q2 FY26 was INR 1,463 crores (INR 14,630 Mn), up from INR 1,434.9 crores year-over-year, with net profit at INR 517.9 crores (INR 5,179 Mn).
EBITDA for the quarter reached INR 679.2 crores (INR 6,792 Mn), with a margin of 46.4%.
Interim dividend of INR 1.5 per equity share declared for Q2 FY26.
Substantial R&D expenses, Para IV filings, and one-time employee bonuses impacted results.
Robust US product pipeline with 30 Para IVs and over 20 FTFs, including 13 approved products.
Financial highlights
Pharma export formulations revenue was INR 1,147 crores (INR 11,470 Mn), domestic formulations INR 105.4 crores (INR 1,054 Mn), crop health sciences INR 52.4 crores, and other income INR 104.3 crores.
PAT margin for Q2 FY26 was 35.4%.
PAT for H1 FY26 at INR 998 crores (INR 9,982 Mn); expected FY26 PAT guidance: INR 1,275-1,300 crores.
Net cash as of 30th Sept 2025 was INR 39,030 Mn; cash post-Adcock acquisition expected at INR 2,700-2,800 crores.
Substantial provisions made for contingencies, including patent litigation and business expenses.
Outlook and guidance
Revlimid (lenalidomide) revenue expected to decline sharply due to increased competition; not budgeting significant future revenue from this product.
Domestic business expected to remain stable, with semaglutide anticipated as a major growth driver upon launch in March/April 2026.
Base business projected to grow 10-15% annually; years with exclusivity launches may see 50-60% profit jumps.
Major launches in the U.S. expected from FY27-28 onward; 2026-27 to be relatively muted.
Demerger of Crop Health Sciences Division underway to unlock value and provide operational flexibility.
How does Adcock acquisition diversify NATCO's business?
Semaglutide: US FTF vs. India market thrust?
Post-Revlimid, what drives base business growth?
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Next NATCO Pharma earnings date
Q3 25/2612 Feb, 2026
Next NATCO Pharma earnings date
Q3 25/2612 Feb, 2026
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Frequently asked questions
NATCO Pharma Limited is a pharmaceutical company specializing in the development, manufacturing, and marketing of generic and specialty pharmaceuticals. The company produces a range of pharmaceutical products, including oncology, cardiology, and central nervous system medications, focusing on affordable therapies for complex health conditions. NATCO Pharma serves both domestic and international markets, providing formulations and active pharmaceutical ingredients (APIs) to healthcare providers and distributors. The company is headquartered in Hyderabad, India, and its shares are listed on the NSE and BSE.
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