ALIVUS LIFE SCIENCES LTD

Manufactures and sells active pharmaceutical ingredients (APIs) to other pharmaceutical companies globally, with FY26 revenue of ₹2,551.832 crore. The business is split between a non-GPL portfolio (branded/innovator customer products) that contributed 71% of revenue and grew 13% in FY26, a smaller GPL (generic) business that de-grew 4.9% in FY26, and a CDMO (contract development and manufacturing) segment that grew 18% in FY26 and contributes around 7% of sales. A pipeline of 28-29 high-potency API molecules is being built against an addressable market of $82 billion, with commercial revenue flagged from FY28 onward. Current manufacturing capacity of 1,198 KL (FY24) is planned to expand to 2,690 KL by FY28, anchored by a new Solapur facility (370 KL for backward integration plus 120 KL for API block) targeted for Q2 FY27 commissioning; FY27 capex is set at ~₹540 crore. The portfolio spans 176 unique molecules with 11 new launches in FY26, ~900 customers globally, and 617 DMF/CEP filings. Therapeutic mix is concentrated in cardiovascular and CNS therapies (58% of topline), with chronic therapies at 70% of sales. R&D spend ran at 3.7% of sales in Q1 FY27, with a ~4% medium-term target. The largest cost is raw materials at 41.7% of revenue, followed by employee costs at 10.7%.