Morepen Labs Q4 FY26 Revenue Up 22% to ₹472 Cr; FY26 Revenue at ₹1703 Cr
Morepen Laboratories reported Q4 FY26 revenue of ₹472 crore, up 22% YoY. FY26 revenue reached ₹1703 crore, an 8% increase. API segment grew 17% and Medical Devices 31% in Q4. Commercial production commenced for a ₹823 crore mandate, with phased deliveries starting soon. The company aims to improve its EBITDA profile towards 20%+.
The announcement details significant revenue growth, commencement of commercial production for a large mandate, and strategic shifts towards higher-margin business models. These factors are likely to have a substantial impact on the company's financial performance and market position.
The company reported strong revenue growth in Q4 FY26 and for the full year, with significant expansion in its Medical Devices segment. The commencement of commercial production for a large mandate and the strategic focus on long-term programs and improving EBITDA profile indicate positive future prospects.
Morepen Laboratories Limited has announced its financial results for the fourth quarter and the full financial year ended March 31, 2026. The company reported a significant revenue growth of 22% year-on-year in Q4 FY26, reaching ₹472 crore.
For the full financial year FY26, the company's revenue stood at ₹1703 crore, marking an 8% increase compared to the previous year. The API segment saw a growth of 17% in Q4 FY26, while the Medical Devices segment reported a robust growth of 31% in the same quarter.
The company highlighted that FY26 was an important transition year, during which Morepen strengthened long-duration manufacturing partnerships, expanded capacities, and progressed towards a more scalable operating model. Commercial production has commenced for a multi-year mandate worth ₹823 crore, with phased deliveries set to begin in the coming weeks.
Morepen Laboratories is focusing on a business model transition towards long-duration programs, capacity expansion, recurring revenues, and operating leverage. The company aims to improve its EBITDA profile from the current range of 10-11% towards 20% and beyond. Key structural drivers include long-duration supply programs, an improved manufacturing mix, stable recurring revenues, and operating leverage benefits.
The company also provided an update on its CDMO & Manufacturing segment, stating that audits and validation batches have been completed, commercial production has commenced, and a supply schedule has been received for phased delivery. This execution is translating strategy into commercial progress.
In terms of its business platforms, Morepen Laboratories is emphasizing its API business with a focus on long-term supply contracts and capacity alignment for large customer engagements. The Medical Devices platform is experiencing strong growth, driven by its consumer diagnostics business, with a focus on blood glucose monitoring, blood pressure monitoring, continuous glucose monitoring (CGM), and connected health & digital integration. The company is expanding its distribution network and international market presence.
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