Aurobindo Pharma Limited — Q4 FY25
Aurobindo Pharma delivered a strong Q4 FY25 with revenue of INR 8,382 crore (+11% YoY) and EBITDA of INR 1,792 crore (21.4% margin), driven by volume growth in US and Europe, st...
bullish
high
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Did management answer the analysts?
Every material analyst question, graded on whether management actually answered it — with the verbatim exchange and quantitative claims checked against filed numbers.
90%Questions answered0Evaded / deflected5Questions audited
Partial answer
High priority
When will biosimilar business generate decent returns on invested capital?
Asked by Nitin Agarwal
Gave timeline but no specific return metrics or revenue targets.
no specific ROC or revenue guidancequalitative timeline only
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Question
You mentioned that we invested almost $400 million in the business so far. At what time frame should we start to expect making decent expected ROCs on this business? Is this going to be 2027, 2028, or subsequently?
Satakarni Makkapati, CEO of Aurobindo Biosimilars, Vaccines, and Peptides Business and Director, Aurobindo Pharma Limited
We expect 2028 would be the inflection year for the biosimilar business. The business will stabilize with about seven products in the regulated markets, both in Europe and possibly a couple of products in the U.S. by 2028. You should look at 2028 to 2030 as the years where you can see biosimilar business trajectory building up.
Answered
High priority
What is the potential revenue size of biosimilar business by 2028-2030?
Asked by Nitin Agarwal
Provided a specific revenue range despite caveats.
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Question
Over the time frame, 2028, 2029, 2030, excluding the CDMO part, only the biosimilar part, how big is the business? What is the potential of the business to get to in terms of size? Is it a $500 million business, a billion-dollar business?
Satakarni Makkapati, CEO of Aurobindo Biosimilars, Vaccines, and Peptides Business and Director, Aurobindo Pharma Limited
I expect by 2030, 2031, the business could be anywhere between $250 million-$400 million in revenues. It depends on various factors. It's very subjective, and you cannot pinpoint to a certain number.
Answered
Medium priority
What contribution from Pen-G plant restart is included in guidance?
Asked by Anubhav Agarwal
Provided months and revenue contribution range.
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Question
What contribution are you including from Pen-G plant coming back in the guidance here? Or how many months of production are you including?
S. Subramanian, CFO, Aurobindo Pharma Limited
I think we are including around six to eight months. That would be roughly about 3%-4% revenues, 5%-6% revenue.
Answered
High priority
Will generic Revlimid revenue be significantly lower in FY26 vs FY25?
Asked by Anubhav Agarwal
Confirmed lower revenue without quantification.
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Question
Second clarity on the guidance is on linear demand, right, or generic Revlimid. Very roughly, year on year would be significantly, FY 2026 would be significantly lower than 2025, flattish.
Yugandhar Puvvala, CEO of Eugia Pharma Specialities Limited, Aurobindo Pharma Limited
It will be FY 2026 will be less than FY 2025.
Answered
Medium priority
What is the expected other operating income for next year?
Asked by Anubhav Agarwal
Provided a specific number for next year.
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Question
Last clarity on other operating income. So this year was about INR 350 crore. Roughly, next year, will it be a flattish number, growth of about high single-digit, just some idea about other operating income?
S. Subramanian, CFO, Aurobindo Pharma Limited
Mostly, our other operating income should be around INR 200 crore plus.