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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
₹448 Cr
verified against source
Revenue YoY
31%
reported change
EBITDA
₹250.3 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Innova Captab delivered a strong Q4 FY26 with revenue of INR 448 cr (+42% YoY) and full-year revenue of INR 1,630 cr (+31% YoY), driven by broad-based growth across CDMO (+24% to INR 1,133 cr) and branded generics (+51% to INR 497 cr). The Jammu facility contributed ~INR 300 cr in FY26 and is nearing breakeven, with management expecting margin expansion as utilization ramps. EBITDA margin for FY26 was 15.4%, down ~60bps YoY due to product mix, but management guided for EBITDA growth to outpace revenue growth in FY27. PAT grew 10% to INR 140.9 cr, with depreciation and interest costs largely fixed. Key risks include raw material price volatility from geopolitical tensions and potential margin pressure from new capex at Baddi. Overall, the company is well-positioned to sustain 20%+ revenue growth with improving profitability.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects to maintain 20%+ revenue growth driven by capacity ramp-up, product portfolio expansion, and market penetration.
- With improving scale and operating leverage, EBITDA growth is expected to exceed revenue growth, aided by Jammu facility ramp-up.
- As depreciation and interest costs are largely fixed, incremental revenue from Jammu will drive PAT growth faster than EBITDA.
- A new general oral block at Baddi is planned with capex spread over two years, expected to generate INR 450-500 cr revenue at optimum level.
Risks flagged
- Geopolitical tensions have led to an uptick in API and raw material prices, which could pressure margins if not fully passed on.
- The new Baddi plant involves significant capex and may take time to ramp up, potentially impacting near-term profitability.
- EBITDA margin declined 60bps YoY due to product mix changes; further shifts could limit margin expansion.
- Jammu facility is still near breakeven; any delay in scaling could affect overall growth and margin targets.
Key quotes
- FY26 has been a defining year for Innova Captab as we achieved our highest ever annual performance reflecting the strength of our business model, aggregation capability and customer relationship.
- We are confident in our ability to deliver 20% plus revenue growth and create long-term value for stakeholders.
- With improving scale and operating leverage, we expect EBITDA growth to outperform revenue growth.
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