Innova Captab (INNOVACAP) Q3 25/26 earnings summary

Executive summary

• Q3 FY26 revenue was ₹4,502.93 million, up 42.3% YoY; 9M revenue was ₹11,822.16 million, up 27.3%, driven by CDMO and branded generics.

• Management cited stronger client engagement, expanded offerings and geographic reach as growth drivers through FY26 and beyond.

• Board approved a ₹2-per-share interim dividend for FY26; record date set for 30 Jan 2026.

• Consolidated and standalone results received unmodified limited-review conclusions.

Financial highlights

• Q3 EBITDA rose 39.6% YoY to ₹71.1 crore; 9M EBITDA grew 24.8% to ₹183.7 crore.

• Consolidated net profit was ₹421.49 million in Q3, up from ₹342.04 million; 9M net profit was ₹1,028.34 million, up from ₹986.85 million.

• Q3 finance costs were ₹4.0 crore versus ₹0.2 crore YoY; 9M finance costs were ₹12.3 crore versus ₹0.5 crore.

• Standalone Q3 revenue was ₹3,637.27 million and net profit ₹279.01 million; 9M revenue was ₹9,405.37 million and net profit ₹625.30 million.

Outlook and guidance

• FY2027 overall growth target is 20% YoY, framed as volume guidance assuming constant API prices; no firm Q4 or full-year guidance was given.

• Jammu is ramping up over 2–3 years, with optimum utilization targeted in 5–6 years; current capacity is expected to support ongoing demand.

• Management expects Jammu to contribute positively at EBITDA and PAT levels next year; future growth initiatives may add margin and P&L pressure.

• Long-term export/domestic revenue mix target is 35:65, with variability as the markets grow at different rates.