CONCORD BIOTECH LIMITED

Makes active pharmaceutical ingredients (APIs) and finished formulations, with a portfolio centred on immunosuppressants and related therapies. Exports are a major growth lever and the API segment is the faster-moving part of the mix. The formulation side is anchored by its Unit-II facility, which cleared inspections from Kenya's Pharmacy and Poisons Board and Uganda's National Drug Authority in June 2026, adding to an earlier ANVISA approval in Brazil. The USFDA approved ANDAs for Tofacitinib Tablets (5 mg and 10 mg, used in rheumatoid arthritis) and Mycophenolate Mofetil, opening US generic supply. Cellimmune Biotech became a wholly owned subsidiary from April 2026 and Stellon Biotech has started commercial operations, extending the manufacturing base. To control power costs, it is investing Rs 6.3 Cr in FSGE Renewable Power, a special purpose vehicle building a 6.3 MW wind and 6.3 MW solar hybrid plant at its Limbasi facility. The cost structure is dominated by materials at 24.1% of FY26 revenue, followed by other operating expenses at 25.1% and employee costs at 16.8%. AR · MarketPing reader · 2026-08-02

Revenue streams, as the annual report describes them. API (Active Pharmaceutical Ingredients), Formulations. Pharmaceutical manufacturer with API and formulation operations and a growing regulated-market footprint

Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)