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 year-over-year, with net profit at INR 151.3 crore (INR 1,513 million).

• EBITDA for the quarter was INR 216.8 crore (INR 2,168 million), with a margin of 30.7%.

• Board declared a third interim dividend of INR 1.5 per equity share for FY26.

• Strategic acquisition of a 35.75% stake in Adcock Ingram Holdings, South Africa, completed for ZAR 3,873 million (USD 225 million).

• Revenue growth driven by strong subsidiary performance in Brazil, Canada, the Middle East, and new product launches.

Financial highlights

• Q3 FY26 total revenue: INR 7,054 million, up from INR 6,511 million in Q3 FY25.

• PAT for Q3 FY26: INR 1,513 million, up from INR 1,324 million in Q3 FY25.

• EPS for Q3 FY26: INR 8.46, up from INR 7.43 in Q3 FY25.

• Subsidiary sales for Q3 were INR 177 crore out of total INR 705 crore.

• Interim dividend of INR 1.5 per equity share declared.

Outlook and guidance

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

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

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

• Guidance excludes significant Revlimid contribution.

• Board granted in-principle approval to evaluate the demerger of the Agro Chemicals business.