Operating revenue: ₹856 crores, representing 20.8% year-on-year growth from ₹708 crores in Q4 FY25
Gross profit: ₹465 crores, up 21.5% YoY with gross margin of 54.4% (27 bps expansion YoY)
EBITDA: ₹195 crores, up 54% YoY with EBITDA margin of 22.8% (491 bps expansion YoY)
Profit after tax: ₹149 crores, up 64.3% YoY
EPS: ₹3.3 for the quarter
Financial Performance - Full Year FY26
Operating revenue: ₹2,951 crores, up 12.5% YoY from ₹2,623 crores in FY25
Gross profit: ₹1,674 crores, up 13.2% YoY with gross margin of 56.7% (32 bps expansion YoY)
EBITDA: ₹601 crores with EBITDA margin of 20.4%
Profit after tax: ₹420 crores
EPS: ₹9.2 for FY26
Cash generated from operations: ₹458 crores
Capex: ₹131 crores primarily for new facility and maintenance
Free cash flow: ₹328 crores
R&D investment: ₹89 crores (3% of consolidated revenue)
Working capital: 138 days
Regional Performance - Q4 FY26
US and North America: ₹406 crores, up 23.6% YoY
UK and EU: ₹308 crores (all-time quarterly high), up 12.3% YoY
Australia and New Zealand: ₹123 crores, up 61.3% YoY
Rest of World: ₹19 crores
Regional Performance - Full Year FY26
US and North America: ₹1,533 crores, up 24% YoY (52% of total revenue)
UK and EU: ₹1,015 crores (34.4% of total revenue)
Australia and New Zealand: ₹303 crores (10.3% of total revenue)
Rest of World: ₹99 crores (3.4% of total revenue)
Balance Sheet Position
Cash and cash equivalents: ₹990 crores as of March 31, 2026
Debt-free status maintained
Dividend Declaration
Final dividend recommended: ₹0.90 per equity share
Represents 90% payout on face value for FY26
Product Pipeline and Launches
FY26 launches: 112 SKUs launched
Current pipeline: 51 additional products in pipeline
UK market: 18 new product approvals, 30 products under review, 24 products awaiting approvals
Planned UK filings: Over 200 products intended to be filed in next 4 years
Australia: Entered prescription segment through Nova Pharma, launched 11 branded generic products
Capacity Utilization
Teva plant utilization: Close to 50% capacity
Total operational capacity across all facilities: 13-14 billion units (approximately 50-55% of total 26 billion unit capacity)
Spare capacity available for future growth
Management Guidance and Commentary
FY27 revenue growth guidance: 15-20%
Target to reach ₹4,000 crores revenue by FY28
Expect raw material cost inflation in Q1 FY27 due to geopolitical and supply chain disruptions (20-30% price escalation on petroleum-related ingredients)
Inventory coverage: Adequate inventory for Q1 FY27, with 5-6 months raw material inventory
Logistics impact: Approximately 2% margin impact from ongoing logistics challenges
Growth Strategy and Expansion
New market entries: Germany, Canada, Ireland
Australia expansion: Entry into branded prescription generics through Nova Pharma
Europe strategy: Focus on expanding footprint beyond Germany to other European countries
Canada timeline: Product approvals expected latter part of FY27, revenue generation expected end of FY27
Europe timeline: Revenue expected second half of FY27
Mergers and Acquisitions
Active dialogue on 2 acquisition targets
Due diligence ongoing for one target
Focus on value creation and conservative valuation approach
Target geographies: Mixed basket including platforms and different geographies
Optimistic about M&A transactions in 2027
Raw Material Cost Management
Experiencing 20-30% price escalation on petroleum-related raw materials and intermediates
Inventory strategy: Maintaining 5-6 months raw material inventory as buffer
Contract renegotiation: Waiting for clarity on geopolitical situation before pursuing price pass-through
Currency benefit: Some offset from favorable forex movements
