Alivus Life Sciences (ALVUS) Q4 24/25 earnings summary

Executive summary

• Q4 FY2025 revenue reached INR 650 crore (Rs. 6,496 Mn), up 21.1% year-over-year, with broad-based growth across all regions and business segments.

• Full-year FY2025 revenue was INR 2,387 crore (Rs. 23,869 Mn), a 4.5% year-over-year increase, aligning with guidance and reflecting consistent performance under new ownership.

• EBITDA margin for Q4 was 32.1%, up 520 bps year-over-year, driven by favorable product mix and new launches; full-year EBITDA margin held at 30%.

• Volume growth for FY2025 was 10%, with guidance for mid-teens volume growth in FY2026, though revenue growth is expected in the high single digits due to pricing pressure.

• Board approved audited financial results for Q4 and year ended March 31, 2025, with an unmodified audit opinion.

Financial highlights

• Q4 gross profit was INR 367 crore, up 23.2% year-over-year; gross margin at 56.5%.

• Q4 EBITDA was INR 209 crore (Rs. 2,085 Mn), up 44.2% year-over-year; EBITDA margin at 32.1%.

• FY2025 gross profit was INR 1,306 crore; gross margin at 54.7%.

• FY2025 EBITDA was INR 717 crore (Rs. 7,172 Mn); EBITDA margin at 30%.

• PAT for FY2025 was INR 486 crore (Rs. 4,857 Mn), with a PAT margin of 20.3%.

Outlook and guidance

• FY2026 volume growth expected in mid-teens, but revenue growth guided to high single digits due to price erosion.

• Margins expected to remain in the 28%-30% range.

• CDMO business expected to improve in H2 FY2026 as new projects commercialize.

• Major brownfield expansions in Ankleshwar and Dahej to be completed in H2 FY2026; Solapur greenfield phase 1 to come online in Q4 FY2026.

• Board recommended a final dividend of 250% (₹5 per share) for FY25, subject to shareholder approval.