Financial Performance Summary

OneSource Specialty Pharma Limited reported consolidated financial results for the quarter ended September 30, 2026 (Q2FY27).

Key Financial Metrics (in ₹ million):

| Particulars | Q2FY27 | Q2FY26 | YoY Change | Q1FY27 | QoQ Change |

| Revenues | 5,162 | 3,758 | +37% | 4,490 | +15% |

| EBITDA | 1,633 | 1,065 | +53% | 1,233 | +32% |

| EBITDA % | 31.6% | 28.3% | +329 bps | 27.5% | +416 bps |

| Adjusted PAT | 937 | 449 | +109% | 637 | +47% |

| Adjusted EPS | 8.2 | 3.9 | +109% | 5.6 | +47% |

Reported PAT: ₹575 million in Q2FY27, showing +448% YoY growth from Q2FY26 and +130% QoQ growth from Q1FY27 (₹250 million).

Note on Adjustments: Adjusted PAT and Adjusted EPS exclude exceptional items (Q2FY27: ₹18 million, Q1FY27: ₹43 million, Q2FY26: Nil) and scheme-related intangible amortization (₹344 million in each quarter).

USD Conversion: Using an average exchange rate of USD = ₹95.17:

  • Revenue: $54.2 million
  • EBITDA: $17.2 million
  • Reported PAT: $6.0 million
  • Adjusted PAT: $9.8 million
  • Adjusted EPS: $0.09

Performance Drivers and Operational Highlights

Revenue Growth Drivers:

  • Revenue increase of 37% YoY and 15% QoQ was driven by new Drug-Device Combination (DDC) capacity, strong Master Service Agreement (MSA) execution, and 12 product launches across all business segments.
  • This represents the third consecutive quarter of sequential growth.

Margin Expansion:

  • EBITDA margin expansion to 31.6% (from 28.3% in Q2FY26 and 27.5% in Q1FY27) was primarily due to operating leverage from higher volumes across the business.

Business Segments:

The company operates as a pure-play specialty pharmaceutical Contract Development and Manufacturing Organization (CDMO) with focus on:

  • Drug-Device Combinations (DDCs), including GLP-1s
  • Biologics
  • Base business comprising sterile injectables and oral technologies (soft gelatin capsules)

Operational Updates:

  • Biologics momentum remained strong with another US biotech company onboarded during the quarter.
  • The second cartridge line for DDCs became commercial, enabling new launches and expected significant ramp-up in commercial volumes in H2FY27.
  • The company has five state-of-the-art manufacturing facilities approved by global regulatory authorities.
  • The sterile manufacturing process for DDCs includes cartridge filling, visual inspection, pen assembly, labeling, packaging, and warehousing with cold-chain integrity maintenance.

Management Commentary

Mr. Neeraj Sharma, CEO & MD, commented: "Q2 delivered strong sequential growth, led by new DDC capacity. With our second cartridge line commercial, H2 will see new launches and a significant ramp-up in commercial volumes. Biologics momentum remained strong, with yet another US biotech onboarded during the quarter. With additional capacity and partnerships, we are well set for the next phase of growth."

Business Outlook

The company's strategic growth pillars are:

1. DDCs (including GLP-1s): Scaling across markets and customers supported by capacity expansion

2. Biologics: Expanding funnel with continued pipeline growth and MSA execution

3. Base Business: Sterile injectable and softgel platforms expanding through new capability investments and strong repeat business

Additional Information

Company Profile: 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 gelatin capsules). It has over 1,600 professionals.

Investor Relations:

  • Anurag Bhagania, CFO
  • Tejaswani Fotedar: +91 9004331391, investor-relations@onesourcecdmo.com

Corporate Communication:

  • Pallavi Panchmatia: +91 8951939181, pallavi.panchmatia@onesourcecdmo.com
  • Abhilash Mukherjee: +91 8904428907, abhilash.mukherjee@onesourcecdmo.com
  • Harsh Sheth: +91 9870631557, harsh.sheth@mslgroup.com

Offices:

  • Corporate Office: Star 1, Opp IIM Bangalore, Bilekahalli, Bannerghatta Road, Bengaluru, 560076

Forward-Looking Statements: The document contains forward-looking statements involving risks and uncertainties that could cause actual results to differ materially, including strategy implementation, growth plans, regulatory approvals, technological changes, and market risks.