Aurobindo Pharma reported robust financial results for the third quarter of FY26 (Q3FY26), achieving a consolidated revenue of ₹8,646 Cr, marking an 8.4% YoY growth. EBITDA stood at ₹1,773 Cr with a margin of 20.5%. The growth was propelled by a strong performance in Europe (+27.4% YoY) and stable US revenue, despite lower transient product sales. The company also highlighted significant progress in its CuraTeQ Biologics pipeline.
Q3FY26 Financial Highlights
Aurobindo Pharma announced its Unaudited Financial Results for the third quarter ending December 31, 2025. The consolidated performance showed significant improvements:
- Revenue from Operations: ₹8,646 Cr, growing 8.4% Year-over-Year (YoY).
- EBITDA: ₹1,773 Cr, representing a 9.0% YoY increase.
- EBITDA Margin: Expanded to 20.5% (up 11 bps YoY).
- Net Profit attributable to Owners: ₹910 Cr, an increase of 7.6% YoY.
- Reported EPS: 15.67 (up 7.7% YoY).
Business Segment Performance
Revenue growth was primarily driven by international segments, with the US business remaining stable despite expected fluctuations in transient product sales.
Formulations Revenue:
- USA (Excluding Puerto Rico): Revenue was US$ 420 Mn in Q3FY26, showing a 1% sequential growth (QoQ) and accounting for 43.2% of consolidated revenue. The company launched 9 products and received approval for 7 ANDAs during the quarter.
- Europe: Showcased exceptional growth of 27.4% YoY, reaching €261 Mn.
- Growth Markets: Reported a slight YoY decrease of 0.9%, totaling US$ 97 Mn.
- ARV: Continued momentum with 16% YoY revenue growth, reaching US$ 42 Mn.
API Business: Total API revenue was ₹963 Cr, reflecting a decline of 4.3% YoY, primarily impacted by market conditions.
Cash Flow and Capex Summary
The company maintained a strong balance sheet position:
- Free Cash Flows generated during the quarter were $118 Mn.
- Net Cash (including investments) after accounting for the Khandelwal Labs acquisition stood at approximately ~US$ 251 million as on December 31, 2025.
- Net Capex for the quarter was US$ 79 million, directed towards capability enhancements and new business development.
CuraTeQ Biologics Update
CuraTeQ Biologics is positioning itself for sustained growth through regulatory milestones and pipeline development:
- Approvals: Secured approval for Dyrupeg in Canada. Bevqolva is approved in MHRA and under review with EMA/Health Canada.
- Filings: Plans include filing for BP16 (denosumab) and BP11 (omalizumab) biosimilars in 2026.
- Pipeline: Has two programs in Phase 3 studies (BP01 and BP05) and a diversified portfolio of 15 products targeting sustained growth beyond 2030. The total addressable market for the next wave pipeline is estimated at over $50 Bn by 2032.
Regulatory Filing Snapshot (as on Dec 31, 2025)
The company maintains a healthy pipeline of filings, with 879 total ANDA filings in the US, covering an addressable market size of $197.2 Bn. CNS remained the largest category with 161 ANDAs.
Outlook and Priorities
Key priorities moving forward include:
- Scaling launch momentum in Europe with upcoming launches in France and Germany.
- Focusing on streamlining the end-to-end supply chain across EEA markets.
- Initiating pre-submission meetings with the US FDA for the bevacizumab biosimilar with a targeted filing in Q2/Q3 CY2026.
- Extending the trastuzumab portfolio, with the subcutaneous presentation entering clinical studies in CY2026.
Source: BSE
