Sai Life Sciences Q3 FY26 results: net profit up 86.4% to ₹100.38 crore, revenue up 26.5%

How did Sai Life Sciences perform in Q3 FY26?

Sai Life Sciences reported consolidated revenue of ₹556.46 crore for Q3 FY26, up 26.5% from ₹439.78 crore in Q3 FY25 and 3.5% from ₹537.47 crore in Q2 FY26. EBITDA was ₹187.85 crore, up 56.9% year on year and 28.8% sequentially, while the EBITDA margin increased 6.6 percentage points year on year and 6.7 percentage points sequentially to 33.8%.

Profit before tax rose to ₹134.17 crore from ₹71.65 crore in Q3 FY25 and ₹112.05 crore in Q2 FY26. Net profit was ₹100.38 crore, against ₹53.85 crore and ₹83.84 crore respectively, while basic EPS was ₹4.77 compared with ₹2.89 and ₹4.01. On the standalone basis, revenue was ₹549.18 crore and profit before tax was ₹97.63 crore.

What changed in Sai Life Sciences' costs and profit?

Total expenses increased 12.0% year on year to ₹422.38 crore, less than the 25.8% rise in total income to ₹564.84 crore. Cost of materials fell ₹7.29 crore to ₹114.24 crore and finance costs fell ₹13.43 crore to ₹9.70 crore, while employee cost rose ₹40.05 crore to ₹172.99 crore, depreciation rose ₹9.99 crore to ₹44.08 crore and other expenses rose ₹1.41 crore to ₹67.67 crore.

Other income fell ₹0.74 crore to ₹8.38 crore from ₹9.12 crore. The company recorded an exceptional charge of ₹8.29 crore against no exceptional item in Q3 FY25; its filing states that the charge arose from changes in the definition of wages under labour codes, which increased gratuity and leave liabilities. Tax expense increased ₹15.99 crore to ₹33.79 crore from ₹17.80 crore.

Against Q2 FY26, total expenses fell ₹18.36 crore to ₹422.38 crore. Cost of materials declined ₹89.29 crore and other expenses fell ₹21.06 crore, while employee cost rose ₹10.20 crore, depreciation rose ₹4.33 crore and finance costs rose ₹0.35 crore. Other income fell ₹6.94 crore, tax expense rose ₹5.58 crore and the quarter included an exceptional charge of ₹8.29 crore, against no exceptional item in Q2 FY26.

How did the first nine months of FY26 go?

For 9M FY26, Sai Life Sciences reported revenue of ₹1590.35 crore, up 42.6% from ₹1115.06 crore in 9M FY25. Total income increased 42.2% to ₹1623.96 crore, while profit before tax rose 200.2% to ₹326.96 crore.

Net profit for the first nine months was ₹244.67 crore, up 198.9% from ₹81.86 crore, and basic EPS increased to ₹11.69 from ₹4.4. The filing reported ₹244.67 crore of profit for the period on the consolidated basis for the first nine months ended 31 December 2025.

How has Sai Life Sciences done over the last 5 quarters?

Revenue rose from ₹439.78 crore in Q3 FY25 to ₹579.51 crore in Q4 FY25, then fell to ₹496.42 crore in Q1 FY26 before increasing in each of the next two quarters. The current quarter’s revenue of ₹556.46 crore remained below the Q4 FY25 peak.

Net profit moved from ₹53.85 crore in Q3 FY25 to ₹88.27 crore in Q4 FY25, fell to ₹60.45 crore in Q1 FY26 and then rose to ₹83.84 crore and ₹100.38 crore in the following quarters. The current quarter was the highest of the five quarters shown.

The EBITDA margin was 27.2% in both Q3 FY25 and Q4 FY25, fell to 24.4% in Q1 FY26 and then rose to 27.1% in Q2 FY26 and 33.8% in Q3 FY26. Revenue, profit and margin therefore moved higher at the end of the period, following the Q1 FY26 trough.

What else did the company announce?

The board approved the unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2025, and noted the limited review report of Deloitte Haskins & Sells LLP. The results were approved on 5 February 2026, and the company filed its investor presentation on 6 February 2026.

The same-day filings did not disclose a dividend or fund raise. The company also stated that it had invested ₹405 Cr in capital expenditure as of the presentation date, against a plan of ₹700 Cr for FY26.

What did Sai Life Sciences' management say?

Management said Q3 FY26 was supported by sustained demand and healthy volume growth across key service lines. The company reported CDMO revenue of ₹361 Cr, up 31% from ₹276 Cr in Q3 FY25, and CRO revenue of ₹195 Cr, up 19% from ₹164 Cr; it also said the CDMO business had 90%+ of contributions coming from pharma.

Management said the EBITDA margin was supported by improved capacity utilisation, operational efficiencies and ongoing cost optimisation initiatives. It also said global macros continued to favour India as an outsourcing destination, with strategic conversations increasing among large pharmaceutical innovators.

Management said capacity expansion plans were on track. It reported ₹405 Cr of capital expenditure against an FY26 plan of ₹700 Cr, with additional MedChem capacity scheduled for commissioning in Q4 FY26, manufacturing capacity expansion under way, and process R&D facilities expected to be commissioned by September 2026.

Management said the company had added 7 molecules to its late-phase and commercial pipeline during the year, taking the total to 43 molecules. It also said a larger pool of late-phase and commercial molecules helped offset volume variability on individual molecules outside the company’s control.

How did Sai Life Sciences shares react?

The stock moved 0.4% after five minutes, 0.5% after 15 minutes and fell 0.8% after 30 minutes. It closed 4.4% higher on the reaction day from the pre-results close of ₹811.0; by the next day’s close it was up 10.1%, and by five sessions it was up 13.1%.

Earlier reaction-day moves were negative 5.9% on 6 November 2025, positive 3.7% on 7 August 2025, positive 4.3% on 14 May 2025 and positive 1.1% on 6 February 2025.

How did other Pharmaceuticals companies do?

Among 151 Pharmaceuticals companies compared for revenue growth, the median revenue growth was 10.5%. Sai Life Sciences had 117 peers growing slower than the company and 34 peers growing faster than the company.

Of the 159 peers for which profit was compared, 91 reported higher profit. The peer comparison was recorded as of 5 November 2026.