Intimation regarding the earnings presentation for Q4 FY 2026
ONESOURCE · price
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OneSource Specialty Pharma reported strong Q4 FY26 recovery with revenue of ₹4,282 million (up 47% QoQ) driven by India semaglutide launches and broad business momentum. EBITDA surged 5x+ QoQ to ₹919 million with margins expanding 1550bps to 21%. Adjusted PAT turned positive at ₹390 million versus a loss in Q3. Full year FY26 revenue declined 2% YoY to ₹14,216 million with EBITDA margins contracting to 21% from 32% due to elevated cost base and delayed Canada semaglutide approvals. Management reaffirmed FY28 targets of ~$400 million organic revenue and ~40% EBITDA margin. The proposed acquisition of Steriscience's USFDA-approved injectable assets has been paused and will be revisited post FY28 due to stakeholder concerns on valuation.
Q4 recovery demonstrates execution capability on semaglutide commercialization, supporting confidence in FY28 targets. However, full-year margin compression and paused acquisition signal near-term challenges. The FY28 guidance reaffirmation provides multi-year visibility, though delivery depends on successful GLP-1 scaling and capacity ramp-up.