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Revenue
₹423 Cr
verified against source
Revenue YoY
—
reported change
EBITDA
₹191 Cr
latest reported figure
Source
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record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Anthem Biosciences reported Q3 FY26 consolidated revenue of 423 crore and EBITDA of 191 crore (41.8% margin), with PAT at 93 crore (20.3% margin). The 9-month revenue reached 1,513 crore, driven by CRDMO (1,260 crore) and specialty ingredients (254 crore). EBITDA margin improved to 41.5% for 9M, aided by backward integration and cost control. Management noted a temporary slowdown due to customer destocking and geopolitical uncertainty, but expects a strong Q4 and FY27 recovery. Guidance for FY26: revenue growth of 15-16% and EBITDA/PAT growth above 20%. Key risks include lumpy business nature and potential delays in new product ramp-up.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects full-year revenue growth in mid-teens (15-16%), driven by strong Q4.
- EBITDA and PAT growth guidance of 20%+ for FY26, with margin profile remaining steady.
- Phase 1 expansion at Unit 4 involves ~1,000 crore capex, with major spending in FY27.
Risks flagged
- Management cited destocking by customers due to geopolitical tensions, leading to slower revenue growth.
- Analyst raised concern about lumpy revenue; management acknowledged that new product ramp-up may take time due to M&A and clinical trial risks.
- Analyst questioned competitiveness; management expressed confidence in backward integration but noted Chinese pricing aggression.
Key quotes
- Our aspiration is always to have the margin trend pointing north.
- We are among the very few who are completely backward integrated that is Anthem's mantra.
- We have to build it and then they will come.
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