Alivus Life Sciences (ALVUS) Q4 24/25 earnings summary

Executive summary

• Q4 FY2025 revenue reached INR 650 crore (Rs. 6,496 Mn), up 21.1% year-over-year, with broad-based growth across all regions and business segments.

• Full-year FY2025 revenue was INR 2,387 crore (Rs. 23,869 Mn), a 4.5% increase year-over-year, aligning with guidance and reflecting consistent performance under new ownership.

• EBITDA margin for Q4 was 32.1%, up 520 bps year-over-year, and maintained at 30% for the year despite loss of PLI benefits.

• Free cash flow generation was robust at Rs. 2,328 Mn, with cash and equivalents at Rs. 5,487 Mn as of March 31, 2025.

• Board approved audited financial results for Q4 and FY25 with an unmodified audit opinion.

Financial highlights

• Q4 gross profit: INR 367 crore, up 23.2% year-over-year; gross margin at 56.5%.

• Q4 EBITDA: INR 209 crore (Rs. 2,085 Mn), up 44.2% year-over-year; EBITDA margin at 32.1%.

• FY2025 gross profit: INR 1,306 crore; gross margin at 54.7%.

• FY2025 EBITDA: INR 717 crore (Rs. 7,172 Mn); EBITDA margin at 30%.

• FY2025 PAT: INR 486 crore (Rs. 4,857 Mn); PAT margin at 20.3%.

Outlook and guidance

• FY2026 volume growth expected in mid-teens, but revenue growth guided at high single digits due to pricing pressure.

• Margins expected to remain in the 28%-30% range, with focus on sustainable growth and capacity investments.

• Fifth CDMO project expected to be commercialized by H2FY26; ongoing greenfield and brownfield expansions, including Solapur and Dahej.

• Q1 FY2026 trends are encouraging, with positive momentum continuing.

• Board recommended a final dividend of 250% (₹5 per share) for FY25, subject to shareholder approval.