Capex for FY26 to exceed ₹2,000 crore
Management indicated that capex spend in H1 was ₹1,550 crore and full-year capex will be higher than the earlier guidance of ₹2,000 crore.
DIVISLAB / guidance tracker
Keep management guidance in view.
Divi's Laboratories · forward-looking guidance across the available source record.
Research layer active
Guidance tracker
What management said would happen.
capex
Three major capex programs with long-term supply commitments
Three projects are at various stages (installation, qualification, validation) and expected to contribute revenue in 1-2 years, subject to regulatory approvals.
Constant currency revenue growth ~10-11% for FY26
Management expects constant currency growth for the full year to be similar to H1's 10.79%.
Generic pricing pressure to persist for next 2 quarters
Management does not foresee improvement in generic pricing for at least the next two quarters.
Three dedicated CS projects to commercialize by Q3-Q4 CY2027
Three custom synthesis dedicated facilities are expected to start commercial volumes in the second half of calendar 2027, pending customer regulatory approvals.
Double-digit constant currency growth trajectory maintained
Management reiterated expectation of double-digit constant currency growth, supported by a balanced pipeline of late-lifecycle and new product launches.
Capex to remain at historical run-rate excluding dedicated projects
Excluding the three dedicated CS projects, capex is expected to be approximately in line with historical levels, with Phase 2 expansion at Unit 3 under evaluation.