Alivus Life Sciences Reports Record Q3 FY26 Revenue of ₹6,729 Mn and EBITDA Margins of 36.4%
Alivus Life Sciences reported record Q3 FY26 revenues of ₹6,729 million (672.9 crore) and highest-ever EBITDA margins of 36.4%. For 9MFY26, revenues were ₹18,627 million (1,862.7 crore). PAT for Q3 FY26 reached ₹1,503 million (150.3 crore). The company generated ₹2,207 million (220.7 crore) in free cash flow and remains net debt-free.
The announcement details record financial performance, significant margin expansion, robust cash flow generation, and strategic investments in R&D and capacity, which are material positive developments for the company.
The company reported record revenues, highest-ever EBITDA margins, and strong PAT growth, indicating a very positive financial performance.
Alivus Life Sciences Limited (formerly Glenmark Life Sciences Limited) announced its financial results for the third quarter and nine months ended December 31, 2025. The company achieved its strongest performance ever, with record quarterly revenues of ₹6,729 million (672.9 crore) for Q3 FY26, representing a 14.4% quarter-on-quarter (QoQ) and 4.8% year-on-year (YoY) growth.
For the nine months ended FY26 (9MFY26), revenue from operations stood at ₹18,627 million (1,862.7 crore), a 7.2% YoY growth. EBITDA for Q3 FY26 was ₹2,452 million (245.2 crore), up 26.5% QoQ and 22.1% YoY, with EBITDA margins reaching a record high of 36.4%, an increase of 340 bps QoQ and 510 bps YoY. This performance was driven by a favorable product mix, a strong recovery in the CDMO business, new product launches, and operational efficiencies. For 9MFY26, EBITDA was ₹6,204 million (620.4 crore), a 22.0% YoY growth, and EBITDA margins were 33.3%, up 400 bps YoY.
Profit After Tax (PAT) for Q3 FY26 was ₹1,503 million (150.3 crore), a 15.5% QoQ and 9.7% YoY growth, with PAT margins at 22.3%, up 100 bps YoY. For 9MFY26, PAT was ₹4,019 million (401.9 crore), a 16.9% YoY growth, and PAT margins were 21.6%, up 180 bps YoY. The company generated a strong free cash flow of ₹2,207 million (220.7 crore) during 9MFY26, resulting in cash and cash equivalents of ₹7,330 million (733.0 crore) as of December 31, 2025. Alivus remains a net debt-free company.
Dr. Yasir Rawjee, MD & CEO, highlighted the clear improvement in operating performance and the turnaround in the CDMO business. He noted robust growth in the Non-GPL business across key markets, collectively growing by 16% YoY in 9MFY26, in line with guidance. The company expects to sustain high single-digit revenue growth for FY26 and maintain margin expansion. Tushar Mistry, CFO, emphasized the disciplined growth leading to strong revenues and the highest-ever EBITDA margin, underscoring the strength of the diversified product portfolio and operational efficiencies.
Additional highlights include cumulative DMF/CEP filings reaching 595 as of December 31, 2025. The HP API portfolio has 27 products in the active grid, with nine validated and seven in advanced development stages. Capex updates include ongoing construction for 465 KL capacity at Solapur and the acquisition of land in Taloja (Navi Mumbai) for a new state-of-the-art R&D centre focused on complex chemistry and oncology research.
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