Alivus Life Sciences Limited (formerly Glenmark Life Sciences) reported a strong financial performance for the quarter and year ended March 31, 2026. The company marked two years under Nirma’s leadership, showcasing significant growth in EBITDA margins, a shift toward higher-value products, and a robust investment strategy. Despite minor operational headwinds, the firm continues to prioritize a resilient business model and long-term sustainability as it expands its manufacturing and R&D capabilities.
Financial Highlights of FY26
For the full financial year 2026, Alivus Life Sciences reported a revenue of INR 2,552 crores, representing a 6.9% year-on-year growth. The company achieved an impressive EBITDA margin of 33.6%, reflecting an expansion of 360 basis points. Profit after tax (PAT) for the year stood at INR 565 crores with a 22.1% margin, driven by disciplined cost management and a favorable product mix.
Strategic Growth and Operational Resilience
The non-GPL segment has emerged as a key growth driver, with its contribution to the total business rising to 71% in FY26, up from 59% in FY22. The company’s focus on high-value, differentiated products has fortified its financial position, resulting in a net debt-free status. Furthermore, the company successfully added 11 new products and 49 new customers during the fiscal year, bringing the total customer base to approximately 900.
Capacity Expansion and R&D Focus
Alivus is actively expanding its manufacturing footprint. The Solapur Phase 1 facility is nearing completion and is expected to be operational in Q2 FY27. This greenfield project, alongside ongoing R&D investments, is designed to support long-term capacity requirements. R&D expenditure reached INR 91 crores in FY26, or 3.6% of sales, as the company emphasizes flow chemistry, pellet production, and high-potency API development. Management expects to maintain EBITDA margins in the range of 30% to 32% in the coming year.
CDMO Pipeline and Outlook
The company witnessed a meaningful recovery in its CDMO business starting in Q3 FY26. With a robust pipeline of over 611 DMF and CEP filings globally, Alivus is well-positioned to leverage its evolving capabilities. Management noted that while short-term geopolitical challenges exist, the company’s strategic shift toward non-commoditized, high-barrier products provides a clear path for sustainable, value-accretive growth beyond FY28.
Source: BSE
