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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹1,404 Cr
verified against source
Revenue YoY
28%
reported change
EBITDA
₹50 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Entero Healthcare delivered a strong Q1 FY26 with revenue of ₹1,440 crore, up 28% YoY (31% like-to-like), driven by 15% organic growth (1.6x IPM) and 16% from M&A. EBITDA grew 66% YoY to ₹50 crore, with margins expanding 82 bps to 3.6%, despite annual wage hikes. PAT rose 47% to ₹30 crore. Gross margins improved 83 bps to 9.9% on better mix and procurement. Management reiterated FY26 guidance of 30% revenue growth and 4%+ EBITDA margins, with operating leverage expected from Q2 onward as seasonal demand picks up. Working capital days targeted to reduce from 66 to 60 by year-end. Risk: Integration of recent acquisitions may face regulatory delays (e.g., drug license site outage).
Colored figures show movement against the previous available record.
Guidance to track
- Management expects full-year revenue growth of 30%, including ~15% organic and ~15% from M&A, with ~₹500 crore of acquired revenue recognized.
- Full-year EBITDA margin target of over 4%, driven by operating leverage, product mix improvement, and procurement efficiencies.
- Targeting a 10% reduction in working capital days from 66 to 60 by end of FY26 through ERP and data science initiatives.
- Effective tax rate expected to remain in the 17-18% range for the full year due to tax efficiency measures.
Risks flagged
- Closure of two announced acquisitions delayed due to drug license site outage, impacting revenue recognition timing.
- Analyst raised concern about Amazon and Zepto entering pharmacy; management downplayed risk citing range, AOV, and prescription challenges.
- Management acknowledged evolving integration approach (more aggressive now), but past slower integration may have caused inefficiencies.
- Article reported termination of exclusive distribution with Servier; management clarified it was modified to allow direct supply, but exclusivity for marketing retained.
Key quotes
- We have started the new financial year on a strong note with Q1 revenues growing 28% year-on-year as against the IPM growth of 9%.
- Acquisitions will remain an important lever for growth but our approach will continue to be disciplined and value effective.
- Our pan India technology-led and category neutral platform is difficult to replicate. This positions us uniquely to capture outsized share gains as the market consolidates.
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