Eris Lifesciences FY26 Results: DBF Revenue Up 11%, EBIDTA Up 12%
Eris Lifesciences reported FY26 DBF revenue of ₹2,778 crore (up 11%) and EBIDTA of ₹1,026 crore (up 12%), with margins at 37%. Consolidated FY26 revenue reached ₹3,129 crore (up 8.1%) and EBIDTA ₹1,120 crore (up 10.1%). The new Semaglutide brand, SUNDAE, shows strong initial performance. FY27 guidance includes 1.3x CVM growth for DBF revenue and 18-20% for international business.
The announcement details full-year financial results, segment-wise performance, new product launch success, and future guidance, all of which are material information for investors and significantly impact the company's valuation and outlook.
The company reported positive revenue and EBIDTA growth across its segments, with improved margins and strong performance from new product launches like SUNDAE. Guidance for the upcoming fiscal year is also positive.
Eris Lifesciences Limited has presented its investor presentation for Q4 and FY2026, detailing financial highlights for its Domestic Branded Formulations (DBF) and International Business segments, along with consolidated figures.
For the DBF segment, Q4 FY26 revenue grew by 12% year-on-year to ₹671 crore, and full-year FY26 revenue increased by 11% to ₹2,778 crore. Q4 FY26 EBIDTA saw a 10% growth to ₹246 crore, with FY26 EBIDTA rising by 12% to ₹1,026 crore. The EBIDTA margin improved to 37% in FY26 from 36.5% in FY25. Key misses in the DBF segment included revenue losses of ₹55-60 crore due to abandoned/delayed launches and ₹50 crore in Insulins due to manufacturing delays. Positively, the Insulin segment performance was strong, with RHI cartridges market share increasing to 24% and overall insulin market share reaching 16%. The Derma segment also consistently outperformed.
The company's new Gx Semaglutide brand, SUNDAE, has shown a robust start. In April 2026, Eris ranked #1 in Injectables by sale volume and #2 by sale value for Semaglutide. The brand achieved a 22% share of prescriptions and 22% share by sale units, ranking #1 in volume. The pricing strategy includes vials at ₹1,290 per unit and pens at ₹3,200 per unit.
In the International Business segment, Q4 FY26 revenue was ₹86 crore, and FY26 revenue reached ₹348 crore, a 7% year-on-year growth. Q4 FY26 EBIDTA was ₹28 crore with a 32.4% margin, and FY26 EBIDTA was ₹110 crore with a 32% margin. Margin compression was attributed to investments in regulated market expansion.
The company provided guidance for FY27, expecting DBF revenue to grow 1.3x of CVM growth and maintaining an EBIDTA margin of around 37%. For the International Business, existing operations are projected to grow 18-20% in revenue with similar EBIDTA margins, while EU-CDMO product commercialization is pending re-inspection and re-approval.
Consolidated revenue for Q4 FY26 was ₹757 crore, up 7.3% year-on-year, and FY26 revenue was ₹3,129 crore, up 8.1%. Consolidated EBIDTA for Q4 FY26 was ₹274 crore, up 8.4%, and for FY26 was ₹1,120 crore, up 10.1%. The consolidated EBIDTA margin improved to 36% in FY26 from 35.8% in FY25.
The company reported a consolidated Profit After Tax (PAT) of ₹279 crore for Q4 FY26 and ₹648 crore for FY26, a significant year-on-year increase. Capex for FY26 was ₹297 crore, largely on Biologics and Sterile Injectables. Net Debt closed at ₹2,255 crore, a reduction to 2x of EBIDTA from 4x in FY24.
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