Key Financial Figures

Revenue: ₹6,404 million for Q1FY27, representing 6.4% year-over-year growth.

EBITDA: ₹2,341 million for Q1FY27, showing 29.1% year-over-year growth with margins at 36.6%.

PAT: ₹1,601 million for Q1FY27, achieving 31.8% year-over-year growth with margins at 25.0% (up 480 basis points YoY).

Free Cash Flow: ₹901 million generated during Q1FY27.

Cash Position: Cash and cash equivalents (including short-term investments) stood at ₹8,802 million as of June 30, 2026.

Business Performance Drivers

  • Non-GPL business grew 26.5% year-over-year, driving overall revenue growth
  • Favorable product mix, successful new launches, and operating leverage benefits contributed to margin expansion
  • Company maintains net debt-free status

Management Commentary

Dr. Yasir Rawjee, MD & CEO:

  • Expressed satisfaction with Q1 performance, citing business model resilience and strong execution
  • Noted accelerating traction in non-GPL business with recently launched products gaining scale across geographies
  • Expects GPL business to be flattish in FY27 despite significant Q1 decline, with historical H2 skew expected to continue
  • Provided FY27 revenue growth guidance of 10-12% with expected EBITDA margins sustained in 30-32% range
  • Highlighted ongoing investments in capacity expansion and pipeline development for future growth

Tushar Mistry, CFO:

  • Emphasized achievement of highest-ever EBITDA margin at 36.6%
  • Attributed strong performance to portfolio strength, disciplined execution, and operational excellence
  • Highlighted healthy balance sheet and financial flexibility from cash position of ₹8,802 million

Operational Highlights

Regulatory Filings: Total cumulative DMF/CEP filings reached 617 as of June 30, 2026.

HP API Portfolio: 29 APIs in active grid with 13 products validated, 7 in advanced development stages, and 9 progressing through lab development.

Capex Update

Solapur Expansion:

  • Phase 1 (350 KL capacity) construction underway, expected completion Q3 FY27
  • Phase 2 (115 KL capacity) construction underway, expected completion Q4 FY27

R&D Facility: Construction begun for new state-of-the-art R&D centre in Taloja (Navi Mumbai) focusing on flow chemistry, complex products, particle engineering, oncology research, and green chemistry.

Company Background

Alivus Life Sciences Limited (formerly Glenmark Life Sciences Limited) is a developer and manufacturer of high-value, non-commoditized APIs in chronic therapeutic areas including cardiovascular disease, central nervous system disease, pain management, and diabetes. The company also provides CDMO services to multinational and specialty pharmaceutical companies.

Portfolio: 181 molecules

Geographic Reach: Supplies to India, Europe, North America, Latin America, Japan, and Rest of the World

Manufacturing Facilities: Four facilities in Ankleshwar, Dahej, Mohol, and Kurkumbh with total installed capacity of 1,424 KL

Regulatory Compliance: Facilities regularly inspected by USFDA, PMDA (Japan), and EDQM (Europe)