Eris Lifesciences (ERIS) Q3 25/26 earnings summary

Executive summary

• Q3 and nine-month results showed strong growth in branded formulations, international business, and consolidated operations, with record consolidated revenue of INR 807 crore in Q3 FY26, up 11% year-over-year, and nine-month revenue at INR 2,373 crore.

• Consolidated EBITDA for Q3 FY26 was INR 282 crore, up 13% year-over-year, with a margin of 35%.

• Adjusted PAT for Q3 FY26 was INR 120 crore, up 38.5% year-over-year; nine-month adjusted PAT was INR 380 crore, up 39.3%.

• Unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, were approved and reported with unmodified auditor opinions.

Financial highlights

• Branded Formulations Q3 revenue: INR 696 crore; nine months: INR 2,106 crore, both up 10% year-over-year.

• International business Q3 revenue: INR 111 crore (+45%); nine months: INR 259 crore (+11%).

• Consolidated Q3 revenue: INR 807 crore (+11%); nine months: INR 2,373 crore (+10%).

• Consolidated Q3 operating profit: INR 282 crore (+13%); Q3 EPS: INR 9; nine-month EPS: INR 28.

• Exceptional item of INR 17 crore in Q3 FY26 due to new labour code accounting adjustments.

Outlook and guidance

• Branded Formulations expected to close the year with 13%-14% growth and EBITDA margin above 39%.

• FY 2027 projected as a breakout year for international business, with revenue of INR 550-600 crore and EBITDA of INR 180-200 crore.

• Consolidated revenue for the year expected at INR 3,200 crore (+12% excluding trade generics), EBITDA of INR 1,150 crore (+15%), and margin rising to 36%.

• Net debt to EBITDA ratio targeted at 1.5x by year-end.

• Acquisition of the remaining 30% stake in Swiss Parenterals Limited completed, making it a wholly owned subsidiary.