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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
₹776 Cr
verified against source
Revenue YoY
134.9%
reported change
EBITDA
₹319.4 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Neuland Laboratories delivered a record Q4 FY26 with revenue of ₹788.7 crore (up 134.9% YoY), driven by commercial CDMO shipments and favorable exchange rates. EBITDA margin surged to 40.5%, partly due to lumpy revenue timing. PAT jumped to ₹212.5 crore from ₹27.7 crore last year. Full-year revenue grew 37% to ₹2,053 crore, with EBITDA margin expanding to 29.4%. Management reiterated that quarterly lumpiness will persist but long-term growth visibility remains strong, anchored by commercial molecules and peptide investments. The peptide facility is on track for July commissioning. Key risks include demand variability, customer ordering patterns, and geopolitical supply chain disruptions. The company maintains a disciplined capex approach and expects working capital to normalize in FY27.
Colored figures show movement against the previous available record.
Guidance to track
- Management reiterated the aspirational 18-20% CAGR target over a five-year horizon, though not linearly.
- The large-scale peptide commercial facility is on track for commissioning in July 2026 with project visibility.
- Management expects working capital days to normalize in FY27 from the elevated 137 days in Q4.
Risks flagged
- A major customer (Denver/Archimemet) is being acquired; management acknowledged change of ownership could pose risks but expects continuity.
- Management flagged higher freight costs due to Middle East conflict and is monitoring raw material price volatility.
- Management cautioned that volatility from high-value new molecules will continue, making quarterly predictions unreliable.
- An investor alleged that a previous call transcript was altered; management promised to check but did not provide immediate clarity.
Key quotes
- The same lumpiness that resulted in a record-breaking Q4, if you recall, also made the previous quarter, which is Q3, a relatively muted quarter.
- I think the 18 to 20% CAGR is a fair assumption. Not necessarily linearly.
- Our goal is simple: to just be on the forefront from our part of the world and make investments, be ready, and create opportunities.
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