Alivus Life Sciences (ALVUS) Q1 25/26 earnings summary

Executive summary

• Q1 FY26 revenue was INR 602 crore (6,018.46 million), up 2.2% YoY, led by 14.5% YoY growth in Non-GPL business and strong contributions from India (Ex-GPL), Europe, ROW, LATAM, and Japan.

• Gross margin improved to 55.1% (up 400 bps YoY) due to rationalized input costs and operational efficiency.

• EBITDA margin reached 30.1% (up 210 bps YoY), with EBITDA up 9.9% YoY and robust free cash flow generation of 1,000 Mn.

• PAT for the quarter was INR 122 crore (1,215 Mn), with a PAT margin of 20.2%.

• Board approved unaudited financial results for Q1 FY26, reviewed by the Audit Committee and subject to limited review by the statutory auditor.

Financial highlights

• Revenue from operations reached INR 602 crore (6,018.46 million), up 2.2% YoY but down 7.4% sequentially.

• Gross profit was INR 332 crore (3,315 Mn), up 10.2% YoY; gross margin at 55.1%.

• EBITDA was INR 181 crore (1,813 Mn), up 9.9% YoY; EBITDA margin at 30.1%.

• Net profit for Q1 FY26 was INR 122 crore (1,215 Mn), up from INR 111 crore (1,114.83 Mn) in Q1 FY25.

• Basic EPS for Q1 FY26 was 9.91, up from 9.10 in Q1 FY25.

Outlook and guidance

• High single-digit revenue growth expected for FY26, with stronger momentum in H2, supported by GPL recovery and CDMO ramp-up.

• Margins projected to remain in the 28–30% range.

• CDMO business targeted to reach 12–15% of total business in 4–5 years (currently 6–7%).

• Ongoing investments in capacity and pipeline enrichment to support future growth.