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Dossier · AUROBINDO PHARMA LTD · 28 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
Manufactures and sells finished pharmaceutical formulations and active pharmaceutical ingredients (APIs) across global markets, generating ₹33,653 cr in FY26 revenue at a 21.6% EBITDA margin. The largest revenue streams are US formulations (Q4 FY26 at $387M, targeting a $2B milestone over the next 1–2 years) and Europe formulations, which crossed €1B annual revenue in FY26 with Q4 revenue of €261M. Growth markets were up 25% YoY in Q4 FY26, while India domestic formulations have been transferred to a wholly owned subsidiary called Auropharm Limited effective July 1, 2026. The company is building backward integration into Penicillin-G and 6-APA intermediates (above 10,000 MT output at over 80% capacity utilisation, with external sales commenced in Q4 FY26) and is constructing a biologics CDMO business under TheraNym with 120,000L of mammalian cell culture capacity — described as the largest such facility in India, with first revenues from Unit-1 expected in 2028 and Unit-2 in 2031. Recent strategic moves include the completed acquisition of US-based Lannett (adding a Seymour, Indiana facility with capacity for about 4 billion doses annually and over 400 employees), a non-exclusive voluntary licensing agreement with MSD for an HIV prevention drug covering 129 low- and middle-income countries, and an 80% stake in CRO A1 Biochem Labs. The biggest cost line is materials at 30.6% of revenue, followed by other operating expenses at 24.2% and employee costs at 15.4%, with capex running at 8% of revenue to fund new capacity. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. US formulations, Europe formulations, Growth markets formulations, India domestic formulations, Active Pharmaceutical Ingredients (APIs), Biologics CDMO (TheraNym / CuraTeQ), Specialty and injectables. Vertically integrated global generics and APIs manufacturer expanding into biologics CDMO and complex generics, with capex at 8% of revenue funding new capacity.
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
₹ crore · consolidated
FY22
FY23
FY24
FY25
FY26
Revenue
23,455
24,855
29,002
31,724
33,653
EBITDA (ex other income)
4,259
3,719
5,651
6,583
6,780
margin %
18.2
15.0
19.5
20.8
20.1
Owners' profit
2,648
1,928
3,173
3,486
3,505
EPS, as reported (₹)
45.19
32.90
54.16
59.81
60.34
ROE % · ROCE %
10.8 · 13.4
7.2 · 9.7
10.6 · 14.3
10.7 · 15.8
9.2 · 13.6
Debt / equity (x)
0.10
0.18
0.21
0.24
0.20
Cash from operations
5,016
2,387
2,435
3,925
5,526
Capex
(2,053)
(2,404)
(2,780)
(1,968)
(2,686)
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · AUROBINDO PHARMA LTD · 28 October 2026Page 2 of 3
Exhibit 2: Quarterly performance, last 8 quarters
₹ crore
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q2 FY26
Q3 FY26
Q4 FY26
Q1 FY27
Revenue
7,796
7,979
8,382
7,868
8,286
8,646
8,853
9,150
Profit before tax
1,207
1,198
1,367
1,205
1,274
1,338
1,293
1,517
Net profit
817
846
903
824
848
910
921
1,032
EPS (₹)
14.00
14.56
15.56
14.20
14.61
15.67
15.86
17.86
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Peers — basic industry group, by market cap
Company
M.cap ₹ cr
P/E
P/B
EV/EBITDA
ROE %
ROCE %
Rev CAGR 5y %
EBITDA m. %
SUN PHARMACEUTICAL IND L
4,20,165
34.8
5.01
22.5
13.7
17.5
11.8
32.3
DIVI S LABORATORIES LTD
2,51,896
86.3
15.03
65.0
15.3
18.8
8.7
42.8
TORRENT PHARMACEUTICALS L
1,56,538
73.9
8.90
38.9
12.2
8.0
11.8
33.1
ZYDUS LIFESCIENCES LTD
1,17,055
26.1
3.96
15.1
17.3
18.0
12.4
25.2
LAURUS LABS LIMITED
1,15,722
105.7
21.31
64.4
16.4
17.2
7.2
32.0
DR. REDDY S LABORATORIES
1,09,385
33.9
2.86
14.6
10.9
13.0
12.1
15.0
CIPLA LTD
1,09,060
32.3
3.16
16.7
11.2
14.7
8.0
19.7
MANKIND PHARMA LIMITED
1,03,353
50.6
6.24
28.4
11.7
10.8
—
27.3
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 4: Where the company sits in its group
Metric
Company
Group median
Rank
Better than
P/E (TTM)
25.4
30.1
64 of 158
60%
P/B
2.5
3.0
72 of 163
56%
ROCE
12.6
10.8
80 of 183
57%
ROE
9.3
9.8
89 of 166
47%
Debt / Equity
0.2
0.2
97 of 166
42%
EBITDA margin
23.0
17.5
63 of 165
62%
Revenue growth
16.3
16.3
81 of 161
50%
Profit growth
25.2
30.9
85 of 158
47%
Market cap
93646
810
9 of 181
96%
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · AUROBINDO PHARMA LTD · 28 October 2026Page 3 of 3
Exhibit 5: Filings of the last 90 days, with the measured price reaction
Date · filing
Category
Importance
Next day %
5-day %
26 Oct 2026 · Aurobindo Pharma schedules Q2 FY27 and H1 FY27 earnings call
board shareholder meetings
low
—
—
26 Oct 2026 · Board to review second-quarter and half-year results on November 4
results
low
—
—
9 Oct 2026 · Aurobindo Pharma publishes notice on special window for physical share transfers
compliance
minimal
—
—
5 Oct 2026 · Routine quarterly dematerialisation certificate filed
compliance
minimal
—
—
3 Oct 2026 · Aurobindo Pharma gets USFDA approval for Perampanel Tablets
compliance
medium
—
—
2 Oct 2026 · Apitoria completes acquisition of A1 Biochem Group CRO business
strategic transactions
high
—
—
2 Oct 2026 · Aurobindo unit completes USD 15.2M acquisition of A1 Biochem Labs LLC
strategic transactions
high
—
—
1 Oct 2026 · Aurobindo Pharma: former promoter takes 20% stake in A1 Labs subsidiary
strategic transactions
high
—
—
30 Sept 2026 · Acrotech launches ADQUEY in U.S., sets up dermatology unit
business updates
medium
—
—
29 Sept 2026 · Aurobindo Pharma: GST order upheld, about Rs 4.6 crore disputed, to appeal
general
low
—
—
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
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Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
