Concord Biotech (CONCORDBIO) Q2 25/26 earnings summary

Executive summary

• Q2 FY2026 revenue was INR 247 crore, down 20% year-over-year, due to regulatory delays, Middle East tender deferment, and US tariff uncertainties, but management expects a strong recovery in H2 as deferred shipments resume.

• Multiple regulatory approvals (US FDA, EU GMP, Russian GMP, NAFDAC) were secured, supporting global market expansion and business continuity.

• Strategic initiatives included US FDA approval for teriflunomide tablets, incorporation of Stelon Biotech for US market operations, and investment in Celliimune Biotech for CAR-T cell therapy development.

• Board approved acquisition of 100% equity in Celliimune Biotech Private Limited and investment up to Rs. 10 Crores in a captive hybrid solar power project for the Limbasi Plant.

• Advanced discussions with innovator companies for API supplies and increased second source qualification initiatives signal future growth opportunities.

Financial highlights

• Q2 FY2026 revenue was INR 247 crore (₹247.1 Cr), down from INR 310 crore (₹310.2 Cr) in Q2 FY2025; H1 FY2026 revenue was INR 451 crore (₹451.1 Cr), down from INR 526 crore in H1 FY2025.

• Q2 FY2026 EBITDA was INR 88 crore (₹88.5 Cr, margin 35.8%), with H1 EBITDA at INR 150 crore (₹149.9 Cr, margin 33.2%); Q2 EBITDA margin adjusted to 41% excluding injectable facility startup costs.

• Q2 FY2026 PAT was INR 63 crore (₹63.1 Cr, margin 25.5%); H1 PAT was INR 107 crore (₹107.1 Cr, margin 23.7%).

• Gross profit margin improved to 80.2% in Q2 FY2026 from 75.4% in Q2 FY2025.

• Standalone revenue from operations for Q2 FY2026 was Rs. 24,705.75 lakhs, with standalone net profit at Rs. 6,289.63 lakhs.

Outlook and guidance

• Management anticipates H2 FY2026 growth to surpass H2 FY2025, with deferred revenues expected to be recovered as regulatory and geopolitical issues resolve.

• Long-term confidence in achieving a 25% CAGR remains, supported by new facilities and product mix.

• Injectable facility expected to ramp up, contributing positively to margins and revenue in the coming quarters.

• Two pipeline products are expected to be commercialized within the next six months.

• The company is expanding through acquisitions and investments in renewable energy, indicating a focus on growth and sustainability.