Raw material price volatility
Geopolitical tensions have led to an uptick in API and raw material prices, which could pressure margins if not fully passed on.
INNOVACAPTAB / Q4-FY26 / risks
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Innova Captab · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
Execution risk at new Baddi facility
The new Baddi plant involves significant capex and may take time to ramp up, potentially impacting near-term profitability.
Product mix impact on margins
EBITDA margin declined 60bps YoY due to product mix changes; further shifts could limit margin expansion.
Dependence on Jammu facility ramp-up
Jammu facility is still near breakeven; any delay in scaling could affect overall growth and margin targets.