OneSource Specialty Pharma (ONESOURCE) Q3 24/25 earnings summary

Executive summary

• Achieved a successful listing and strong debut as an independent company, integrating CDMO and Soft Gelatin businesses from Strides and Steriscience, with significant value creation for shareholders and a differentiated CDMO business model.

• Built a robust project delivery track record, serving 60+ global customers and maintaining a strong pipeline of ongoing projects, with expanding cross-utilization of services and strong traction in GLP-1 and biologics segments.

• Completed a major merger effective April 1, 2024, resulting in significant changes to the business structure and financials.

Financial highlights

• Q3 FY25 revenue reached INR 3,926 million (INR 393 crores), up 18% quarter-over-quarter, with EBITDA at INR 1,432 million (INR 143 crores) and a margin of ~36.5%.

• Nine-month FY25 revenue totaled INR 10,189 million ($121.9 million), with EBITDA of INR 2,840 million and 28% EBITDA margin.

• Net worth increased to INR 57,821.34 million as of December 31, 2024.

• Loss per share for the quarter was INR (6.31) basic and diluted, showing improvement over the prior year.

Outlook and guidance

• Medium-term guidance targets 25%-30% CAGR and $400 million revenue in 3-4 years, with EBITDA margins expected to reach 40%.

• FY25 revenue guidance is $160–$180 million, with EBITDA of $55–$61 million and margins above 30%.

• FY26 anticipated as a transition year with fluctuating quarters due to evolving revenue mix; steady-state business expected from FY27 with 80% commercial sales.