Torrent Pharmaceuticals

Torrent Pharma delivered a strong Q3 FY26 with 18% revenue growthCurrent reported value: 18% revenue growth. No comparable prior figure is available in the source record. to ₹3,333Current reported value: 3,333. No comparable prior figure is available in the source record. crore and 19% EBITDA growthCurrent reported value: 19% EBITDA growth. No comparable prior figure is available in the source record. to ₹1,088Current reported value: 1,088. No comparable prior figure is available in the source record. crore, driven by double-digit expansion in India (+14%Current 14%. Reported change: +4pp vs IPM.) and Brazil (+27% reported, +10%Current 10%. Reported change: +3pp vs market. constant currency). The US business grew 19% (12% constant currency) to $36 million, while Germany declined 6% constant currency due to a third-party supplier disruption. The JB Pharma acquisition (48.8% stake) closed in January, with cost synergies of ₹400-450 croreCurrent reported value: ₹400-450 crore. No comparable prior figure is available in the source record. targeted over 2-3 years, though Q4 may see a muted impact from integration. Management expects India to continue outperforming the IPM, and US sales to cross $200 million annually next year. Key risk: Germany supply disruption remains unresolved, with no clear timeline for resolution.