Concord Biotech Limited has informed the Exchange about Transcript
CONCORDBIO · price
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Concord Biotech reported Q1 FY26 revenue of INR 204 crores, down 5% YoY, with API revenue falling 10% to INR 153.8 crores due to procurement lumpiness, while formulation revenue grew 12% to INR 50.2 crores. EBITDA dropped to INR 61 crores with margins at 30.1% (vs 37.7% last year) primarily due to INR 12-13 crore of commercialization costs from the new Valthera injectable facility; excluding these start-up costs, EBITDA margins were ~37%, in line with the prior year. PAT stood at INR 44 crores (21.6% margin). Key positives included US FDA approval for teriflunomide tablets, successful inspections by US FDA, EU GMP and Russian GMP, the launch of new subsidiaries Stellon Biotech (US) and Concord Lifegen (India), and the start of CDMO sales in Q2 FY26 with an internal target of $40-50 million from 4-5 opportunities. Capacity utilization was 75% at Dholka, 57% at Limbasi, and 26% at Valthera.
Near-term margins are under pressure from injectable facility start-up costs, but management reiterated the 25% consolidated revenue CAGR target (18% baseline + ~5% from injectables + ~5% from CDMO) and expects operating leverage to lift margins as the new facility scales up. The stock is likely to react to the soft Q1 numbers, though the lumpiness is described as timing-related rather than demand-related.