Operating EBITDA margin target of 22-23%
Management reaffirmed confidence in maintaining operating EBITDA margin in the 22-23% range, despite near-term gross margin pressure from outsourcing to meet demand.
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margins
R&D spend of 10-11% of revenue for next several years
R&D investment expected to remain at 10-11% of revenue, with cumulative spend of Rs 500+ crore planned for FY26-27-Q1 FY28 to support future product launches.
Pithampur facility operationalization mid-2026
Pithampur manufacturing facility validation expected to complete by mid-CY26 with commercialization targeted for Q1 CY27, adding high-potency oncology, hormones, and steroids capabilities.
Gross margin restoration to 67-68% range
Management indicated intent to return to historical gross margin levels of 67-68% as Pithampur facility ramps up and internal manufacturing mix improves, though no specific timeline provided.