Transcript on investors/analysts conference call held for un-audited financial results of Q4 FY 2025-26 and audited financial results for FY 2025-26
AKUMS · price
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Akums reported FY26 revenue of INR4,359 crore (+5.8% YoY) with adjusted EBITDA at a record INR522 crore (12% margin), up 13.3% YoY. PAT stood at INR256 crore vs INR344 crore in FY25; the prior year included a INR106 crore deferred tax asset benefit. Q4 saw revenue of INR1,158 crore and adjusted EBITDA of INR152 crore (13.1% margin), driven by strong CDMO volume growth and trade generics turning EBITDA positive. CDMO revenue grew 8.6% to INR3,485 crore for FY26, with Q4 volumes up 13.4% YoY. The domestic branded formulations (Akumentis) business posted modest 2.9% revenue growth with margin expansion. The API segment continued to drag with INR40 crore EBITDA losses due to cephalosporin pricing pressure, though management expects losses to fall sharply in FY27. The company has a EUR35 million (~$25 million) European CDMO contract commencing FY28, and a $25 million Zambia supply order expected to contribute ~INR230 crore in FY27. Capex for FY26 was INR222 crore; FY27 target is INR300 crore. The board recommended INR1 regular dividend and INR2 special dividend per share.
Strong operating cash flow (INR1,181 crore) and EBITDA margin improvement signal execution capability, though the high base of deferred tax asset in FY25 inflates PAT comparisons. The ramping injectable and Penem facilities, plus the European CDMO pipeline, position the company for next-leg growth in FY27–FY28.