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Revenue
₹108.66 Cr
verified against source
Revenue YoY
—
reported change
EBITDA
₹145 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Zim Laboratories reported Q3 FY26 operating income of ₹1,087 crore, with EBITDA of ₹145 crore (13.4% margin) and PAT of ₹44 crore, showing sequential improvement. Export revenue surged 232% YoY to ₹961 crore, contributing 88% of revenue. The EUGMP remediation remains the top priority; management expects the audit in Q1 FY27 (April-June 2026). NIP product commercialization in regulated markets is delayed until EUGMP clearance, but emerging market traction continues. A preferential issue of ₹35 crore was completed to fund capex and compliance. Key risk: further delay in EUGMP audit could push back regulated market entry and NIP revenue inflection.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects the EUGMP audit to occur in April-June 2026, with most CAPA responses submitted.
- Once EUGMP is cleared, NIP product revenue could scale to ₹20 crore+ per quarter, with agreements already in place.
- Management targets 20% growth in emerging markets excluding Bangladesh, driven by new hires and product registrations.
- A separate manufacturing block for a high-potential product will be converted into a site by March 2027, with MA expected within months.
Risks flagged
- If the EUGMP audit is delayed beyond Q1 FY27, regulated market entry and NIP revenue inflection could be pushed out further.
- Analysts questioned the preferential issue at a low price, raising concerns about dilution and fair value.
- The company relied on one investor for the preferential issue, which may create concentration risk.
- Continued spending on CAPA and compliance initiatives may keep margins under pressure until regulated market revenue materializes.
Key quotes
- We are just waiting for the remediation related inspection and if everything is going well we will be well on the way to actually be able to demonstrate the promise that has shown to us.
- Speed was of utmost importance here and price wise it is a mandated price on the base of last 90 days traded volume.
- We are looking at about 20% growth in emerging markets ex-Bangladesh.
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