Concord Biotech

Concord Biotech reported Q3 FY26 revenue of ₹278 croreCurrent reported value: ₹278 crore. No comparable prior figure is available in the source record., up 14% YoYCurrent reported value: 14% YoY. No comparable prior figure is available in the source record., driven by API growth of 24%Current 24%. Reported change: +24% YoY. to ₹219 crore. EBITDA was ₹99Current reported value: 99. No comparable prior figure is available in the source record. crore (margin 35.6Current reported value: 35.6. No comparable prior figure is available in the source record.%), impacted by injectable startup costs and Stellon subsidiary expenses; excluding these, margin was 40%Current reported value: 40%. No comparable prior figure is available in the source record.. PAT declined to ₹64Current reported value: 64. No comparable prior figure is available in the source record. crore due to a one-time labor code provision of ₹3 crore and lower other income. Management noted that H1 headwinds (US tariff uncertainty, delayed EU certification, Middle East tender deferrals) are easing, with order momentum recovering. The injectable facility received WHO GMP certification, targeting domestic and emerging markets with a peak revenue potential of ₹600 croreCurrent ₹600 crore. Reported change: N/A.. FY26 is expected to remain below historical averages, but FY27 should normalize to historical growth rates of ~18%. Key risks include delayed ramp-up of injectables and persistent geopolitical tensions in the Middle East.