NATCO Pharma announced its consolidated financial results for the third quarter of FY2026, reporting a Total Revenue of ₹7,054 Mn. EBITDA stood strong at 30.7%, and the Net Profit reached ₹1,513 Mn, resulting in an EPS of ₹8.46. The company also highlighted key business developments, including the launch of Risdiplam and the strategic acquisition of a stake in Adcock Ingram Holdings Limited.
Q3FY26 Financial Highlights
NATCO Pharma reported robust financial performance for the quarter ended December 31, 2025 (Q3FY26). The Consolidated Total Revenue for the quarter reached ₹7,054 Mn, compared to ₹6,511 Mn in Q3FY25. The company demonstrated strong profitability, with EBITDA at ₹2,168 Mn, translating to an EBITDA Margin of 30.7%. This margin is slightly lower than the 33.0% reported in Q3FY25, primarily due to the inclusion of Other Income.
The Net Profit for Q3FY26 was ₹1,513 Mn, significantly up from ₹1,324 Mn in the corresponding previous year quarter. Consequently, the Reported Earnings per Share (EPS) stood at ₹8.46 for the quarter.
Revenue Segment Analysis (Q3FY26)
The revenue composition highlights the continued strength in Formulations:
- Formulations Total Revenue: ₹5,412 Mn.
- Export Formulation Revenue: ₹4,214 Mn, representing 59.7% of the total revenue breakdown.
- Domestic Formulation Revenue: ₹1,198 Mn, making up 17% of total revenue.
- API Revenue: ₹643 Mn (9.1% share).
- Crop Health Sciences Revenue: ₹285 Mn (4% share).
For the nine months ended FY26 (9MFY26), the consolidated revenue stood at ₹14,630 Mn, with Export Formulations dominating at 75.7% of the mix.
Key Business and Strategic Updates
Product and Market Expansion
NATCO successfully launched Risdiplam in the Indian market, a crucial drug used for the treatment of the debilitating disease Spinal Muscular Atrophy.
Adcock Ingram Acquisition
The company marked the culmination of a strategic acquisition, taking a 35.75% stake in Adcock Ingram Holdings Limited, South Africa. For the first half of Adcock’s financial year ending December 31, 2025, it reported revenue of ₹2,464 Crore and Profit After Tax of ₹198 Crore. NATCO accounted for its share of profit (35.75%), amounting to ₹29.65 Crore. After a one-time amortization of ₹18.75 Crore, the associate profit reflected in NATCO’s financials amounts to ₹10.90 Crore.
US Pipeline Status
As of December 31, 2025, NATCO maintains a strong pipeline in the USA:
- 30 Para IVs in the pipeline, including over 20 First-to-File (FTFs).
- 14 Para IV products are already Approved (tentative or fully), including key molecules like Apixaban (Eliquis) and Risdiplam (Everysdi).
New Chemical Entity (NCE) and Cell/Gene Therapy Investments
NATCO continues to invest in future therapies:
- eGenesis: Invested US$ 8 million in xenotransplantation, noting the first-ever human transplant of a genetically engineered pig kidney in March ’24.
- NRC – 2694: This orally administered molecule is undergoing a Phase 2 clinical trial for Head and Neck cancer in the US and India, following FDA approval for the trial on patients progressed on Keytruda®.
- Cellogen Therapeutics: Invested US$ 2 million, focusing on CAR-T cell therapies, with First human dosing for Leukemia planned shortly in India.
- Eyestem: Invested US$ 1 million in a dry Age-Related Macular Degeneration (AMD) treatment, with Phase I dosing ongoing in India.
Earnings Call Information
The company invited stakeholders to discuss these results on February 12, 2026, at 4 PM IST, with senior management including Mr. Rajeev Nannapaneni and Mr. Rajesh Chebiyam.
Source: BSE
