Alivus Life Sciences (ALVUS) Q3 25/26 earnings summary

Executive summary

• Achieved record Q3FY26 revenue of INR 673 crores (6,729 Mn), up 14.4% QOQ and 4.8% YOY, with strong performance across all business segments and robust CDMO recovery.

• Non-GPL business grew 16.1% for nine months FY26, reflecting successful diversification and robust demand across geographies including Europe, Japan, LATAM, ROW, and India.

• Board approved unaudited financial results for Q3 and nine months ended December 31, 2025, reviewed by the Audit Committee and statutory auditor.

• Expansion projects at Solapur, Ankleshwar, and Dahej are progressing, supporting future growth and capacity needs.

Financial highlights

• Q3FY26 revenue: INR 673 crores (6,729 Mn), up 14.4% QOQ and 4.8% YOY; nine months revenue: INR 1,863 crores (18,627 Mn), up 7.2% YOY.

• Q3 gross profit: INR 397 crores; gross margin: 58.9% (+330 bps YOY); Q3 EBITDA: INR 245 crores (2,452 Mn), EBITDA margin: 36.4% (highest ever).

• Q3 PAT: INR 150 crores (1,503 Mn), PAT margin: 22.3%; nine months PAT: INR 402 crores (4,019 Mn), PAT margin: 21.6%.

• Free cash flow for nine months: INR 221 crores (2,207 Mn); cash and equivalents: INR 733 crores (7,330 Mn) as of Dec 31, 2025.

• Earnings per share (basic) for Q3 FY26 was ₹12.25, compared to ₹11.18 in Q3 FY25.

Outlook and guidance

• High single-digit revenue growth guided for FY26, with margins expected at 30%-32%, above previous guidance.

• CapEx for FY26 revised to INR 450 crores, with INR 150 crores deferred to FY27.

• Capacity expansions at Dahej and Ankleshwar to provide runway for two years; Solapur to start operations by July, initially serving ROW markets.

• Company continues to monitor regulatory developments regarding new labour codes and will adjust accounting as needed.