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Aurobindo Pharma Margin Trend — Quarter by Quarter

Aurobindo Pharma's EBITDA margin moved from 16.8% in Q1 FY24 to 20.3% in Q2 FY26 across 10 quarters. Management commentary below explains the cost and pricing drivers mentioned on calls.

EBITDA Margin by Quarter

QuarterEBITDA Margin (%)YoY Change
Q2 FY2620.3%—
Q1 FY2620.0%—
Q4 FY2521.4%—
Q3 FY2520.4%—
Q2 FY2520.1%—
Q1 FY2521.4%—
Q4 FY2422.0%+680 bps
Q3 FY2421.8%—
Q2 FY2419.4%+260 bps
Q1 FY2416.8%—

What management said about ebitda margin

G

Q3 FY26 · EBITDA margin target of 20-21% for FY26

Management expects to achieve EBITDA margins on the higher side of 20-21% for FY2026, driven by Pen G ramp-up, injectable growth, and cost efficiencies.

G

Q2 FY26 · FY26 EBITDA margin target of 20-21%

Management reiterated confidence in achieving internal margin target of 20-21% for FY26, driven by operational leverage and cost efficiency.

G

Q2 FY26 · China OSG facility EBITDA breakeven by Q3-Q4 FY26

The OSG facility in China is on track to deliver EBITDA breakeven by Q3-Q4 FY26, with European approval for 10 products and 3 local approvals.

G

Q1 FY26 · FY26 EBITDA margin target of 20-21%

Management reiterated internal target margin range of 20-21% for FY26, supported by volume expansion and new site ramp-up.

G

Q1 FY26 · China facility to break even at EBITDA by Q3 FY26

The China facility, with initial capacity of 2 billion+ units, is expected to break even at EBITDA level by Q3 FY26.

G

Q1 FY26 · PNG plant to generate healthy EBITDA from Q3 FY26

The PNG plant resumed operations and is expected to generate healthy EBITDA from Q3 onwards as yields improve.

G

Q4 FY25 · Maintain current EBITDA margins in FY26

The company internally aims to keep EBITDA margins at present levels (around 20.8%) for FY26.

G

Q3 FY25 · FY25 EBITDA margin guidance of 21%-22%

Management reaffirmed achieving 21%-22% EBITDA margin for FY25, despite Q3 margin of 20.4%, citing stronger Q4 with increased transient sales and operational efficiencies.

G

Q2 FY25 · FY25 EBITDA margin target of 21%-22%

Management reiterated internal target for full-year EBITDA margin, implying H2 margins will be higher than H1.

G

Q1 FY25 · FY25 EBITDA margin target of 21%-22%

Management reiterated the internal EBITDA margin target of 21%-22% for FY25, with potential revision in Q2 call.

G

Q4 FY24 · FY25 EBITDA margin target of 21%-22%

Management expects EBITDA margin to improve to 21%-22% in FY25, driven by operating leverage and ramp-up of new capacities.

G

Q3 FY24 · FY24 EBITDA margin target of 20%

Management reiterated confidence in achieving 20% EBITDA margin for FY24, supported by operational efficiencies and cost improvements.