Date: July 24, 2026

Financial Performance Summary

OneSource Specialty Pharma Limited reported its consolidated financial results for the quarter ended June 30, 2026 (Q1FY27).

Revenue Performance

  • Revenue of ₹4,490 million, representing a 37% year-over-year (YoY) increase from Q1FY26 revenue of ₹3,273 million
  • Quarter-over-quarter (QoQ) revenue growth of 5% from Q4FY26 revenue of ₹4,282 million
  • Revenue growth was driven by semaglutide commercial launch, new Master Service Agreement (MSA) contracts, and customer wins across businesses

Profitability Metrics

  • EBITDA of ₹1,233 million, showing 39% YoY growth from Q1FY26 EBITDA of ₹885 million
  • EBITDA increased 34% QoQ from Q4FY26 EBITDA of ₹919 million
  • EBITDA margin expanded to 27.5%, representing a 600 basis points improvement QoQ and 43 basis points improvement YoY
  • Margin expansion was driven by operating leverage on higher semaglutide revenue

Net Profit

  • Reported PAT of ₹250 million, showing a significant improvement from a loss of ₹2 million in Q1FY26
  • Adjusted PAT (excluding exceptional items and scheme-related intangible amortization) stood at ₹637 million
  • Adjusted PAT increased 72% YoY from ₹371 million in Q1FY26 and 63% QoQ
  • Adjusted EPS was ₹5.6, representing 71% YoY growth from ₹3.2 in Q1FY26 and 63% QoQ growth

Adjustments and Exceptional Items

  • Exceptional items in Q1FY27: ₹43 million
  • Scheme-related intangible amortization: ₹344 million (consistent in each quarter)
  • Prior period adjustments: Q4FY26 had a gain of ₹0.3 million in exceptional items, Q1FY26 had exceptional items of ₹29 million

Financial Data Table

| Metric | Q1FY27 | QoQ Change | Q1FY26 | YoY Change |

| Revenue (₹m) | 4,490 | +5% | 3,273 | +37% |

| EBITDA (₹m) | 1,233 | +34% | 885 | +39% |

| EBITDA Margin | 27.5% | +600bps | 27.0% | +43bps |

| Reported PAT (₹m) | 250 | 5x+ | (2) | Loss to Profit |

| Adjusted PAT (₹m) | 637 | +63% | 371 | +72% |

| Adjusted EPS (₹) | 5.6 | +63% | 3.2 | +71% |

Business and Operational Updates

Commercial Momentum

  • Expanding customer engagement across modalities with robust and growing opportunity pipeline
  • Second cartridge line scheduled for commercialization in Q2FY27, representing a significant milestone in capacity expansion
  • Sterile production days increased 2x (total number of production days available across all lines)

Biologics Business Development

  • Signed a strategic biosimilars partnership with another leading global biosimilar customer
  • Request for Proposal (RFP) funnel at all-time high with 4x growth versus FY25

Quality and Compliance

  • Maintained stellar compliance track record
  • Received EU GMP and TGA GMP approvals across 2 sites
  • Completed 12 regulatory inspections and customer audits

Customer Base and Market Position

  • First and only CDMO with 3 G7 semaglutide approvals
  • Supplying 20+ partners across key off-patent semaglutide markets
  • Customer segments include Global Leaders, Regional Players, and Country Champions

Market-Specific Achievements

  • Canada: #1 global off-patent market, launched with 3/3 customer approvals (2 already launched)
  • India: Day-1 market launch with multiple partners, supplying 10/21 generic pen brands
  • MENA: Launching soon with Hikma (one of the largest pharma players in MENA)
  • Tirzepatide: Secured 2 First-to-File in US by 2 customers
  • Biologics DDC: First commercial supply to Europe with end-to-end development and manufacturing
  • Liraglutide: New customer added with strong wallet share expansion potential

Capacity Expansion

  • Increased capacity availability leading to new customer additions, new MSA signings, and contract extensions
  • One of the few globally integrated biologics platforms with Drug Substance (DS) and Drug Product (DP) capabilities
  • Expanding capacity across microbial and mammalian systems

Growth Pillars

1. Biosimilars: Two marquee biosimilar partnerships announced, strong funnel driven by regulatory tailwinds

2. Animal Health: Strategic partnership with Top 3 global animal health company, growing biologics adoption

3. Innovators: RFP momentum translating into growing early-stage funnel, discussions with multiple leading US and European partners

4. Softgel and Sterile Injectables: One-stop CDMO solution across dosage forms, scaling CDMO share beyond captive IP demand

Management Commentary

Mr. Neeraj Sharma, CEO & MD, stated: \"We have started FY27 on a strong note, delivering robust growth in revenue and EBITDA, driven by commercialisation of semaglutide in Canada and India. We are excited to bring our second cartridge line into commercial operations in Q2, a significant milestone in our capacity expansion. Our biologics business gathered further momentum this quarter with the addition of yet another leading global biosimilar customer, reinforcing the strength of our integrated CDMO capabilities.\"

Guidance and Outlook

The company reaffirmed its FY28 outlook of $400 million in organic revenue with 40% EBITDA margin. This guidance is supported by:

  • Strong execution and business levers
  • Strategic pillars for growth including:
  • Scaling across markets and customers supported by capacity expansion
  • Biologics funnel expanding with continued pipeline growth and MSA execution
  • Sterile injectable and softgel platforms expanding through new capability investments and strong repeat business

Company Background

OneSource Specialty Pharma Limited is a pure-play specialty pharmaceutical CDMO focusing on development and manufacturing of complex pharmaceutical products including biologics, drug-device combinations, sterile injectables, and oral technologies (soft gelatine capsules). The company has five state-of-the-art manufacturing facilities approved by global regulatory authorities and over 1,600 professionals.

Investor Relations

The company has scheduled an earnings conference call for July 25, 2026, at 10:00 AM IST with speakers Neeraj Sharma (CEO & MD) and Anurag Bhagania (CFO).