Biocon

Biocon delivered a strong Q4 FY26, with adjusted revenue growth of 10% YoYCurrent 10% vs previous available quarter 9%. and EBITDA up 29% YoYCurrent reported value: 29% YoY. No comparable prior figure is available in the source record. to ₹1,073Current 1,073 crore vs previous available quarter 951 crore. crore, driven by favorable mix and operating leverage in biosimilars. The biosimilars segment grew 12% YoYCurrent reported value: 12% YoY. No comparable prior figure is available in the source record. with margins expanding to 26%Current reported value: 26%. No comparable prior figure is available in the source record., while generics (ex-lenalidomide) grew 13%Current reported value: 13%. No comparable prior figure is available in the source record.. The integration of biosimilars and generics was completed in under 100 days, strengthening the balance sheet. Management highlighted that the heavy investment phase is behind, with focus shifting to execution and margin expansion. Key launches in FY27 include aflibercept (Yesafili) and insulin aspart (Kirsty), expected to ramp up in H2. Risks include potential pricing erosion in the US biosimilar market and competitive pressure from Chinese entrants in insulin.