FY26 Earnings Call Investor Presentation
NATCOPHARM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Natco Pharma reported FY26 total revenue of INR 43,759 Mn, down from INR 47,840 Mn in FY25. EBITDA margin contracted significantly to 39.6% from 53.3% in FY25 due to lower export formulation revenues. PAT for FY26 was INR 14,185 Mn (32.4% margin), including a one-time tax benefit of INR 1,150 Mn from moving to the new tax regime. The company launched multiple products including Semaglutide Multi Dose Vials in India, Pomalidomide in the US, and completed the acquisition of 35.75% stake in Adcock Ingram Holdings, South Africa. Q4FY26 showed revenue of INR 8,169 Mn with EBITDA margin of 25.1%.
The significant EBITDA margin contraction from 53.3% to 39.6% is a concern, though the one-time tax benefit boosted reported PAT. Shareholders should monitor if the lower export formulation revenue trend continues and watch for margin recovery as new product launches scale up.