India · Delayed Price · Currency is INR NATCO Pharma Earnings Call Transcripts
Fiscal Year 2026
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FY26 saw a decline in revenue and profit due to lower Revlimid sales and increased competition, with a one-time tax benefit partially offsetting the drop. FY27 guidance is for further contraction, but management expects diversified growth from FY28, driven by new launches and global expansion.
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Q3 FY26 revenue rose to INR 705.4 crore with a 30.7% EBITDA margin and INR 151.3 crore net profit. Growth was driven by strong export performance and the Adcock Ingram acquisition, while semaglutide is set to boost domestic sales. Guidance for FY26 revenue is INR 4,300 crore.
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Revenue and profit grew year-over-year, driven by strong exports and stable domestic business. Guidance anticipates lower Revlimid revenue due to competition, with focus shifting to new launches like semaglutide and the de-merger of crop health sciences.
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Q1 FY26 revenue was INR 1,390.6 crore with strong EBITDA margin but lower net profit due to U.S. pricing pressure and higher R&D. Guidance for a 20% drop in revenue and profit is maintained, with the Adcock acquisition expected to diversify earnings. Cash reserves remain robust.
Fiscal Year 2025
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A 35.75% stake in a major African pharma company is being acquired for INR 2,000 crore, funded from cash reserves. The deal brings immediate earnings accretion, access to new markets, and significant synergy potential, with integration and value realization expected over the next two to three years.
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Record FY 2025 revenue and profit growth driven by strong core business and robust cash reserves. FY 2026 guidance is conservative, anticipating a 20% revenue and 30% profit decline due to U.S. headwinds, with upside potential from key product launches and acquisitions.
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Q3 FY25 saw a sharp decline in revenue and profit due to absence of Revlimid sales and higher R&D costs, partially offset by a one-time land sale gain. Management expects a rebound in coming quarters with new product allocations and launches, but earnings volatility remains high.
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Q2 FY25 saw 35% revenue and 83% net profit growth, driven by export formulations and stable domestic business. Management expects to exceed 20% profitability growth guidance, with strong margins and a robust product pipeline, while maintaining high R&D investment.
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Q1 FY25 saw 21.6% revenue and 59% net profit growth, led by export formulations and Revlimid. Management guides for at least 20% profit growth for FY25, with strong cash reserves aimed at future acquisitions and pipeline expansion.