Alivus Life Sciences reported a 16% year-over-year revenue growth in Q2 FY26, reaching INR588 crores. This growth was fueled by a strong performance in the non-GPL business, which saw a 39.7% increase. The company’s EBITDA margin improved to 33%, up 480 bps year-over-year. Alivus reaffirms its guidance of high single-digit revenue growth for FY26, driven by broad-based external sales and recovery in GPL and CDMO segments.
Financial Performance Highlights
Alivus Life Sciences announced a revenue of INR588 crores for Q2 FY26, representing a 16% year-over-year growth. The non-GPL business was a significant driver, growing by 39.7%, attributed to successful new product launches.
For the first half of FY26, revenue stood at INR1,190 crores, an increase of 8.6% year-on-year. Gross profit for H1 was INR671 crores, up 15.1% year-on-year. Net profit after tax for H1 stood at INR252 crores with PAT margins at 21%.
Profitability and Margins
The gross margin for Q2 FY26 was 57.7%, a 210 bps increase year-over-year, due to rationalized input costs, new product launches, and a favorable product mix. EBITDA for the quarter reached INR194 crores, a 35.7% year-over-year increase, resulting in an EBITDA margin of 33%, up 480 bps year-over-year. PAT for the quarter stood at INR130 crores with a PAT margin of 22.1%.
Business Segments and Pipeline
The CDMO business performance was softer than expected, but a rebound is anticipated in the second half of the year with new projects and ramp-ups. The company’s pipeline remains robust, with 586 DMF and CEP filings globally as of September 30, 2025. The high potent API portfolio includes 26 products in the active grid, representing a total addressable market of $66 billion.
Strategic Outlook and Capex
Capacity expansion initiatives at Solapur, Ankleshwar, and Dahej are progressing as planned. Alivus reaffirms its guidance of high single-digit revenue growth for FY26, driven by a stronger performance in the second half. The company remains confident of sustaining margins around 30%, reinforced by a robust pipeline of new launches and operational efficiency.
Capex for Q2 FY26 was INR61 crores, and for the first half, it was INR113 crores. A capex approval from the Board of INR600 crores is in place, including a carryover of INR190 crores from FY25. The company continues to be net debt-free, with cash and cash equivalents of INR653 crores on the books as of September 30, 2025.
Source: BSE
