Biocon Limited’s Board of Directors met on February 12, 2026, to approve the un-audited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. Crucially, the Board granted in-principle approval to acquire the remaining ~2% equity stake in its material subsidiary, Biocon Biologics Limited (BBL), from employees and other shareholders, paving the way for BBL to become a Wholly Owned Subsidiary (WOS). The consideration for this acquisition will be via preferential allotment of Biocon shares.
Board Meeting Outcomes: Financials and Subsidiary Integration
The Board of Directors of Biocon Limited convened on Thursday, February 12, 2026, approving key financial outcomes and a strategic move to fully integrate Biocon Biologics Limited (BBL).
The meeting approved the un-audited financial results (standalone and consolidated) prepared as per Ind-AS for the quarter and nine months ended December 31, 2025. These results were accompanied by the Limited Review Report from the statutory auditors.
Strategic Acquisition of Remaining BBL Stake
This decision follows previous disclosures regarding the full integration of BBL, which aimed to make it a Wholly Owned Subsidiary (WOS). The Board has now given in-principle approval to acquire the remaining ~2% of BBL’s paid-up equity share capital on a fully diluted basis.
- Sellers: The remaining shares are held by employees of the Biocon Group (who may exercise Stock Options) and other shareholders of BBL.
- Consideration: The acquisition consideration will be discharged through a preferential allotment of Biocon’s equity shares, in compliance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The specific terms are to be determined and approved by the Board subsequently.
Following this proposed transaction, BBL will officially become a WOS of the Company, subject to necessary shareholder and regulatory approvals.
Financial Performance Highlights (Standalone – Q3 FY26 vs. Previous Year)
For the three months ended December 31, 2025, the standalone performance showed:
- Total Income: ₹6,961 Million, compared to ₹6,270 Million in Q3 FY25.
- Net Profit/(Loss) for the period: A loss of ₹764 Million, compared to a profit of ₹5,840 Million in Q3 FY25.
- Earnings Per Share (Diluted): (₹0.57) per share, compared to ₹4.87 per share in Q3 FY25.
The nine months ended December 31, 2025, showed Total Income at ₹20,116 Million, with a Net Loss of ₹138 Million, versus a profit of ₹5,881 Million in the previous corresponding period.
Consolidated Performance Highlights (Q3 FY26 vs. Previous Year)
On a consolidated basis for the three months ended December 31, 2025:
- Total Income: ₹42,903 Million, up from ₹38,562 Million in Q3 FY25.
- Net Profit/(Loss) for the period: A loss of ₹518 Million, compared to a profit of ₹811 Million in Q3 FY25.
- Earnings Per Share (Diluted): (₹0.11) per share, compared to ₹4.87 per share in Q3 FY25.
The nine months ended December 31, 2025, showed Total Income at ₹1,27,004 Million, resulting in a Net Profit of ₹1,702 Million, down from ₹9,700 Million in the previous year.
Exceptional Items and Corporate Activities
The results reflect several significant, non-recurring events:
- BBL Acquisition Costs: Costs of ₹1,455 Million were incurred towards advisory, legal, and financing for the transaction related to Mylan/Edelweiss, classified as an exceptional item in the quarter ended December 31, 2025.
- BBL Inventory Provision: BBL recorded an exceptional provision of ₹762 Million for inventory in Q3 FY26.
- Mylan Share Swap (Dec 2025): The company recognized a gain of ₹1,842 Million upon remeasuring the derivative liability related to the investment in BBL from Mylan Inc.
- QIP Proceeds (Jan 2026): Post-period, the Company raised ₹41,500 Million via QIP at ₹368.35 per share, partly to acquire remaining BBL shares.
Segmental Review (Consolidated)
The segment reporting for the nine months ended December 31, 2025, shows the performance across key divisions:
- Biosimilars Revenue: ₹76,756 Million (against ₹65,540 Million in the comparable nine months of FY25).
- CRDMO Revenue: ₹27,022 Million (against ₹26,244 Million in the comparable nine months of FY25). CRDMO reported a Profit Before Tax of ₹2,855 Million for the nine months.
The Board Meeting commenced at 4:45 P.M. and concluded at 6:45 P.M.
Source: BSE
