Alivus Life Sciences / Q3-FY26

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Positive2026-01-15Back to ALIVUS

Revenue

₹673 Cr

verified against source

Revenue YoY

4.8%

reported change

EBITDA

₹245 Cr

latest reported figure

Source

nse announcements

record provenance

Actual signal trajectory

Where this quarter sits.

source records only
EBITDA (₹ Cr)PositiveWatchNegative
3 actual records
Actual quarterly EBITDA (₹ Cr) trajectoryReported values plotted by quarter. Hover or focus a point for its quarter, value, and source sentiment.Q2 FY26: 194 · Positive source sentiment · 2025-10-30Q2 FY26Q3 FY26: 245 · Positive source sentiment · 2026-01-15Q3 FY26Q4 FY26: 237 · Positive source sentiment · 2026-04-??Q4 FY26245194
Values are taken from the available verified source records; sentiment color is a separate source-read indicator.

Quarter read

What the record says.

Alivus Life Sciences reported its highest-ever quarterly revenue of ₹673 crore, up 4.8% YoY, driven by a strong CDMO recovery (85.3% YoY growth) and robust non-GPL business growth of 16.1%. EBITDA margin expanded 510 bps YoY to 36.4%, the highest ever, supported by new product launches, favorable mix, and operational efficiencies. Management raised margin guidance to 30-32% (from 28-30%) and expects high single-digit revenue growth for FY26. Capex guidance was reduced to ₹450 crore (from ₹600 crore), with ₹150 crore deferred to FY27. Key risks include geopolitical instability and pricing erosion in mature molecules, though management sees these as manageable. The CDMO pipeline remains strong with 5 active projects and potential for 2 more by Q1 FY27.

Colored figures show movement against the previous available record.

Guidance to track

  • Management expects high single-digit revenue growth for FY26, driven by non-GPL segment and CDMO ramp-up.
  • EBITDA margin expected to be in 30-32% range going forward, up from earlier guidance of 28-30%.
  • Capex for FY26 now guided at ₹450 crore, down from ₹600 crore, with ₹150 crore deferred to FY27.
  • Management expects to conclude 1-2 new CDMO projects by Q1 FY27, with early quantities already supplied.

Risks flagged

  • Management highlighted geopolitical risks as a key concern given the company's international presence, though diversification mitigates impact.
  • Analyst questioned why CDMO deal sizes are limited to $4-6M vs peers targeting $50-100M; management defended strategy citing high attrition and tax-driven manufacturing in Ireland.
  • Management acknowledged 4-4.5% annual price erosion across the portfolio, but expects to offset via next-gen processes and new launches.
  • Sholapur plant delayed by ~3 months to July 2026, and initial capacity reduced from 600kL to 450-500kL, though management says it won't impact growth.

Key quotes

  • We reported our highest ever revenue of 673 crores registering a growth of 14.4% QoQ and 4.8% YoY.
  • Our CDMO segment has made a strong recovery delivering an exceptional performance in Q3 with revenue growth of 100% QoQ and 85.3% YoY.
  • We now guide the capex to be at around rupees 450 crores compared to our earlier items of 600 crores.

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