Onesource announces FY 2026 results with strong Q4 performance; reaffirms FY28 guidance.
ONESOURCE · price
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Onesource Specialty Pharma reported Q4FY26 revenue of ₹4,282 million, up 47% sequentially, driven by India semaglutide launches and broad business momentum. EBITDA jumped 5x+ QoQ to ₹919 million with margins expanding 1550bps to 21%. For full year FY26, revenue declined 2% YoY to ₹14,216 million while EBITDA fell 35% YoY to ₹3,042 million with margins compressing from 32% to 21%. Adjusted PAT for FY26 was ₹739 million, down 68% YoY. The company attributed the FY26 weakness to a high MSA base in FY25, elevated costs from DDC facility ramp-up, and delayed Canada semaglutide approvals. The proposed acquisition from Steriscience has been paused. Management reaffirmed FY28 targets of ~$400 million revenue and ~40% EBITDA margin.
While Q4 showed strong sequential recovery, the full-year decline in revenue and significant margin compression signals ongoing challenges from cost ramp-up and approval delays. The paused acquisition and reaffirmed FY28 guidance suggest management remains confident but faces execution hurdles in the near term.