Viyash Scientific earnings calls.

Viyash Scientific reported a landmark Q3 FY26 as the first combined quarter post-merger with Sequent, delivering ₹858 crore revenueCurrent reported value: ₹858 crore revenue. No comparable prior figure is available in the source record. (+11Current reported value: 11. No comparable prior figure is available in the source record.% YoY) and ₹185 crore adjusted EBITDACurrent reported value: ₹185 crore adjusted EBITDA. No comparable prior figure is available in the source record. (+64% YoY) with 390bps margin expansion to 21%. The merged entity demonstrates structural margin improvement driven by formulation growth (up 20Current reported value: 20. No comparable prior figure is available in the source record.% YoY), European market penetration via Spain/Turkey operations, and API cost optimization through backward integration. One-time merger expenses of ₹49Current reported value: 49. No comparable prior figure is available in the source record. crore (including ₹41 crore stamp duty/consultants and ₹7.7 crore MAT credit reversal) temporarily impacted PAT. Management reiterated confidence in sustaining 20%+ EBITDA margins, targeting ₹4,000 crore revenue by FY27-28Current reported value: ₹4,000 crore revenue by FY27-28. No comparable prior figure is available in the source record. with 15-20% minimum growth. Key strategic priorities include companion animal expansion (only 15-16% genericized vs 85-90% in human health), CDMO momentum (targeting ₹70-90 crore this year, scaling post-FY27), and leveraging the strengthened balance sheet (Net Debt/EBITDA below 0.8x) for selective M&A. Risks include low single-digit API growth this quarter (timing issue per management), margin pressure in US formulation from competition, and execution challenges in North American animal health expansion.