OneSource Specialty Pharma Q2 FY27 results: net profit ₹82.48 crore vs ₹10.48 crore, revenue up 156.9%

How did OneSource Specialty Pharma perform in Q2 FY27?

OneSource Specialty Pharma reported consolidated revenue of ₹965.26 crore for Q2 FY27, up ₹589.50 crore or 156.9% from ₹375.76 crore in Q2 FY26. Against Q1 FY27, revenue rose ₹516.24 crore or 115.0% from ₹449.02 crore. EBITDA was ₹286.64 crore, compared with ₹106.50 crore a year earlier and ₹123.35 crore in the previous quarter, while EBITDA margin rose to 29.7% from 28.3% and 27.5%.

Net profit increased to ₹82.48 crore from ₹10.48 crore in Q2 FY26 and ₹25 crore in Q1 FY27. Basic EPS was ₹7.19, against ₹0.92 a year earlier and ₹2.18 in the previous quarter. On the standalone basis, revenue was ₹960.97 crore and net profit was ₹137.42 crore; standalone profit before tax was ₹37.1 crore.

What changed in OneSource Specialty Pharma's costs and profit?

Total expenses rose to ₹890.79 crore in Q2 FY27 from ₹373.06 crore in Q2 FY26, an increase of ₹517.73 crore. Cost of materials increased by ₹169.89 crore to ₹293.44 crore, employee cost by ₹83.44 crore to ₹146.26 crore, finance costs by ₹31.41 crore to ₹65.37 crore, depreciation by ₹76.97 crore to ₹146.80 crore and other expenses by ₹149.66 crore to ₹242.62 crore. Other income increased by ₹1.72 crore to ₹4.76 crore.

Profit before tax was ₹73.16 crore, up ₹67.42 crore from ₹5.74 crore in the year-ago quarter. The quarter included an exceptional charge of ₹6.07 crore, against no exceptional item in Q2 FY26, while tax was ₹9.32 crore compared with ₹4.74 crore. Net profit consequently rose by ₹72 crore to ₹82.48 crore, and net profit margin increased 5.7 percentage points to 8.5%.

What do the balance sheet and cash flow show?

At 30 September 2026, total assets were ₹8,586.08 crore, compared with ₹8,210.01 crore at 31 March 2026, and total equity was ₹5,920.89 crore against ₹5,831.29 crore. Borrowings increased to ₹1,483.63 crore from ₹1,276.3 crore, while cash fell to ₹14.18 crore from ₹35.68 crore. Inventories were ₹445.86 crore, trade receivables ₹1,032.91 crore and trade payables ₹535.53 crore.

For H1 FY27, operating cash flow was negative ₹19.22 crore, compared with negative ₹39.92 crore in H1 FY26. Investing cash flow was negative ₹127.68 crore against negative ₹250.58 crore, and financing cash flow was ₹125.5 crore against ₹231.28 crore. Capital expenditure was ₹171.24 crore in H1 FY27, compared with ₹328.71 crore in H1 FY26.

How has OneSource Specialty Pharma done over the last 8 quarters?

Revenue rose in each of the last three quarters, reaching ₹965.26 crore in Q2 FY27 after ₹449.02 crore in Q1 FY27. Across the reported series, revenue was lowest at ₹290.34 crore in Q3 FY26 and had reached ₹428.22 crore in Q4 FY26 before the latest increase. EBITDA margin bottomed at 6.0% in Q3 FY26, recovered to 21.5% in Q4 FY26 and 27.5% in Q1 FY27, then increased to 29.7% in Q2 FY27.

Net profit was also lowest in Q3 FY26 at a loss of ₹88.7 crore. It moved to ₹4.6 crore in Q4 FY26 and ₹25 crore in Q1 FY27 before rising to ₹82.48 crore in Q2 FY27. The latest quarter was the highest profit and EBITDA margin in the reported period, while revenue was also the highest.

What else did the company announce?

In a filing dated 27 October 2026, the board approved the redesignation of Dr Claudio Albrecht from Independent Director to Non-Executive Non-Independent Director, following a recommendation from the Nomination and Remuneration Committee. The change was subject to shareholder approval, and the filing stated that he would continue in the new designation, liable to retire by rotation. The same-day filings also included the un-audited consolidated and standalone results and the company’s results presentation; they did not announce a dividend or fund raise.

What did OneSource Specialty Pharma's management say?

Management reaffirmed FY28 guidance for $400 million of revenue and $160 million of reported EBITDA. The CEO and managing director said, “We expect second half to be stronger than the first. And basis that, we are also reaffirming our FY28 outlook, which we have given of $400 million revenue and $160 million EBITDA.” Management expects all three DDC lines to be operational and available in FY28, although Line 3 commercialisation could move to early FY28, and expects the current effective tax rate through at least Q3 FY28.

Management said DDC Line 2 was commercial and had doubled sterile production days, while Line 3 had reached Bengaluru after factory testing and awaited qualification. The company expects the steady-state DDC mix to be 75% commercial and 25% MSA. Management also cited Dr. Reddy’s API supply commencement, semaglutide launches in Canada and other approved markets, and a biologics RFP funnel at its highest level.

Management identified shipping disruption and extended working-capital cycle times of 45-60 days as risks, while expecting normalisation. Bespoke multi-vendor qualification could delay Line 3 commercialisation into early FY28, and geopolitical disruption had delayed Line 2 commissioning by nearly six months. The company also said the current softgel site cannot expand, making planned greenfield capacity necessary.

How did OneSource Specialty Pharma shares react?

The filing appeared during market hours. OneSource Specialty Pharma’s shares moved from ₹1,431.30 at the time the filing appeared to 2.5% higher after five minutes, 3.8% higher after 15 minutes and 4.5% higher after 30 minutes. On the reaction day, the stock closed 13.9% higher from its pre-results close; by the next day’s close it was up 12.3%, and by the fifth session it was up 12.2% from that same pre-results close.

The Pharmaceuticals industry’s median stock move was 2.0% on the reaction day, 2.6% by the next day’s close and 2.2% by the fifth session. OneSource Specialty Pharma therefore exceeded the industry median by 11.9 percentage points on the reaction day, 9.7 percentage points by the next day’s close and 10.0 percentage points by the fifth session. Earlier results-day moves were mixed, including 2.3% on 24 July 2026, a fall of 2.1% on 13 May 2026 and a fall of 18.9% on 23 January 2026.

How did other Pharmaceuticals companies do?

Among 60 Pharmaceuticals companies that filed for the quarter as of 4 November 2026, the median revenue growth was 18.9%. Fifty-eight peers grew more slowly than OneSource Specialty Pharma, while two grew faster. The company’s Q2 FY27 revenue growth of 156.9% was therefore above the peer median.

Of the 54 peers for which profit data were compared, 38 reported higher profit. OneSource Specialty Pharma reported a net profit of ₹82.48 crore in Q2 FY27, compared with ₹10.48 crore in Q2 FY26.