Investor presentation for financial year ending March 31, 2026
EMCURE · price
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Emcure Pharmaceuticals crossed the US$1 billion revenue milestone in FY26, delivering ₹9,204 crore in revenue with 16.6% YoY growth that exceeded guidance. EBITDA improved 83 basis points to 19.4% while adjusted PAT jumped over 40% to ₹1,008 crore with 189 basis points margin expansion. International markets drove performance with 22% revenue growth contributing 56% of total sales, while domestic business grew 10% led by Cardiac, CNS, and Oncology segments. The company completed strategic acquisitions (Manx in Europe, Cutimed in Canada) and full consolidation of Zuventus, while expanding partnerships with Novo Nordisk (Poviztra), Sanofi (OAD products), and Roche (nephrology products from Q1FY27). R&D spend stood at ₹434 crore for pipeline development including Amphotericin B and Biosimilar Bevacizumab.
Strong FY26 results with margin improvement and above-guidance growth signal effective execution of the five-year strategic roadmap. The deleveraged balance sheet (Net debt/EBITDA at 0.6x) and ROCE improvement to 23.7% suggest healthy shareholder returns potential, though the weaker domestic Q4 performance warrants monitoring.