NATCO Pharma (NATCOPHARM) Q3 25/26 earnings summary

Executive summary

• Q3 FY26 consolidated revenue reached INR 705.4 crore (INR 7,054 million), up from INR 651.1 crore YoY, with EBITDA at INR 216.8 crore (INR 2,168 million) and net profit at INR 151.3 crore (INR 1,513 million); EPS stood at INR 8.46.

• Strong subsidiary performance in Brazil, Canada, and the Middle East, and robust export and domestic pharma segments, offset the absence of Revlimid sales.

• Strategic acquisition of a 35.75% stake in Adcock Ingram Holdings, South Africa, contributed INR 10.9 crore to profit after amortization.

• Interim dividend of INR 1.5 per equity share declared for Q3 FY26.

• Launched Risdiplam for Spinal Muscular Atrophy in India and incorporated a wholly owned subsidiary in Chile.

Financial highlights

• Q3 FY26 consolidated revenue: INR 705.4 crore (INR 7,054 million), up from INR 651.1 crore (INR 6,511 million) YoY.

• EBITDA margin for Q3 FY26: 30.7%.

• Net profit for Q3 FY26: INR 151.3 crore (INR 1,513 million), up from INR 1,324 million YoY.

• EPS for Q3 FY26: INR 8.46.

• PAT margin for Q3 FY26: 19.9%.

Outlook and guidance

• FY26 revenue expected to reach INR 4,300 crore, with PAT guidance of INR 1,280–1,300 crore.

• Domestic business targeted to grow over 20% in FY26, driven by semaglutide launch.

• Focus on expanding US product pipeline with 30 Para IVs and over 20 FTFs, including 14 approved products.

• Continued investment in NCE, cell, and gene therapy, with multiple clinical trials and product launches planned.

• Guidance excludes significant Revlimid contribution.