Alivus Life Sciences Q3FY26 Revenue up 4.8% YoY to ₹672.9 Crore; EBITDA Margins Expand 510 bps YoY
Alivus Life Sciences reported Q3FY26 revenue of ₹672.9 crore (up 4.8% YoY) and EBITDA of ₹245.2 crore (up 22.1% YoY). EBITDA margins expanded 510 bps YoY to 36.4%. CDMO revenues grew 85.3% YoY. For 9MFY26, revenue was ₹1,862.7 crore (up 7.2% YoY) and EBITDA margins improved by 400 bps YoY to 33.3%.
The results show a significant turnaround in the CDMO segment, substantial margin expansion, and robust cash flow generation, indicating strong operational performance and positive future outlook, which are material for investors.
The company reported strong year-on-year growth in revenue and significant improvement in EBITDA margins, driven by the recovery in the CDMO segment and growth in Non-GPL business. Management commentary also reflects confidence in future growth and margin expansion.
Alivus Life Sciences Limited (formerly Glenmark Life Sciences Limited) has announced its financial results for the third quarter and nine months ended December 31, 2025 (Q3FY26 and 9MFY26). The company reported a revenue from operations of ₹6,729 million (₹672.9 crore) for Q3FY26, marking a growth of 14.4% quarter-on-quarter (QoQ) and 4.8% year-on-year (YoY). This performance was attributed to a strong recovery in the CDMO segment, new project contributions, and sustained growth in regulated markets.
For the nine months ended December 31, 2025 (9MFY26), revenues stood at ₹18,627 million (₹1,862.7 crore), a growth of 7.2% YoY. Gross Margins in Q3FY26 were at 58.9%, an increase of 120 bps QoQ and 330 bps YoY, driven by new launches, product mix, and operational efficiency. EBITDA Margins for the quarter improved significantly to 36.4%, up by 340 bps QoQ and 510 bps YoY. For 9MFY26, EBITDA Margins were 33.3%, a 400 bps YoY improvement.
The CDMO business witnessed a robust recovery, with revenues growing by 100% QoQ and 85.3% YoY, supported by new projects. Non-GPL revenues for 9MFY26 grew by 16.1% YoY. The company generated a strong free cash flow of ₹2,207 million (₹220.7 crore) during 9MFY26, leading to Cash and Cash Equivalents of ₹7,330 million (₹733.0 crore) as of December 31, 2025.
Dr. Yasir Rawjee, Managing Director & Chief Executive Officer, commented on the results, stating that the quarter showed a clear improvement in operating performance with the CDMO business recovering as planned. He noted robust growth in the Non-GPL business across key markets, which grew by 16% YoY during 9MFY26. The company expects Non-GPL to sustain its growth momentum, aiming for high single-digit revenue growth for FY26. Alivus Life Sciences remains confident in sustaining margin expansion due to the strength of its core business and new product launches.
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