India · Delayed Price · Currency is INR Concord Biotech Earnings Call Transcripts
Fiscal Year 2026
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Q3 FY26 saw 14% revenue growth year-over-year, with API volumes driving performance and injectables poised for future growth. Margins were impacted by startup costs, but normalization is expected as new facilities scale. Cash position remains strong, supporting both organic and inorganic expansion.
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Q2 FY2026 saw a 20% YoY revenue decline due to regulatory and geopolitical delays, but management expects a strong H2 recovery as deferred sales resume. Margins remain robust, with new facilities and product launches set to drive future growth.
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Q1 FY26 revenue declined 5% year-over-year to INR 204 crore due to sales lumpiness, with EBITDA and PAT impacted by startup costs at the new injectable facility. Formulation revenue grew 12%, API declined 10%, and the company advanced its US and India market presence, CDMO, and injectables ramp-up.
Fiscal Year 2025
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Revenue grew 35% YoY in Q4 and 18% for FY25, with PAT up 21% and strong EBITDA margins. Strategic investments, new product launches, and a robust CDMO pipeline support long-term growth, while gross margin variability is managed through product mix and operational efficiency.
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Q3 FY25 saw stable results with 1% revenue growth and strong margins, while nine-month revenue rose 10% year-over-year, led by a 42% increase in formulations. Management maintains a 25% CAGR growth outlook, with new product launches, capacity ramp-up, and sustainability initiatives supporting future performance.
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Q2 FY25 saw 18% YoY revenue and PAT growth, driven by strong formulation performance and steady API business. Margins remained robust despite a higher share of lower-margin formulations, and the company maintains a zero-debt position with significant cash reserves.
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Q1 FY25 saw 11% revenue growth and 20% higher PBT (ex-JV), with strong formulation segment expansion and stable API margins. The injectable facility is set for Q4 FY25 launch, and long-term growth guidance remains unchanged.