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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹583 Cr
verified against source
Revenue YoY
9.4%
reported change
EBITDA
₹134 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Aarti Pharmalabs reported Q4 FY26 standalone revenue of ₹580 crore (+9% YoY), but EBITDA fell to ₹134 crore (-5% YoY) and PAT dropped to ₹62 crore (-30% YoY), impacted by a ₹33 crore forex loss and cost inflation from West Asia tensions. The CDMO segment posted record quarterly revenue of ₹155 crore (+32% YoY), while the xanthine derivatives segment also hit a record at ₹227 crore. API/intermediates remained soft due to pricing pressure. Management guided for 15-18% revenue and EBITDA growth over the next 3-4 years, with CDMO expected to grow 40-50% in FY27. Key risks include persistent raw material inflation, inability to fully pass through costs in the API segment, and lumpy CDMO revenue recognition.
Colored figures show movement against the previous available record.
Guidance to track
- Management targets 15-18% CAGR in both revenue and EBITDA for the medium term, driven by capacity ramp-up and CDMO growth.
- CDMO/CMO business expected to lead growth with projected sales growth of 40-50% in FY27.
- Similar level of capital spending as FY26, allocated to xanthine expansion, Atali phase completion, debottlenecking, and R&D.
- Incremental capacity from 6,000 to 9,000 MTPA will be available by end of Q1 FY27, with gradual ramp-up.
Risks flagged
- Geopolitical tensions have caused significant increases in raw material and logistics costs, impacting margins, especially in the API segment where cost pass-through is difficult.
- Management noted that existing orders in the API segment cannot be repriced, and future price increases depend on competitive dynamics.
- CDMO revenue is lumpy due to project-based deliveries, and large customer orders require significant inventory financing without advances.
- A ₹33 crore forex loss in FY26 (including on foreign currency loans) highlights exposure to currency fluctuations, with potential for further hits.
Key quotes
- We are targeting 15 to 18% growth in both revenue and EBITDA for next three four years.
- For immediate FY27, we expect the CDMO CMO business to lead the growth with a projected sales growth of 40 to 50%.
- We have projected line of sight of close to $100 million in CDMO segment going forward.
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