Divi's Laboratories Management Guidance Tracker

7 forward-looking guidance items tracked across 2 quarters.

Capex

Q2 FY26Capex for FY26 to exceed ₹2,000 croreActive

Management indicated that capex spend in H1 was ₹1,550 crore and full-year capex will be higher than the earlier guidance of ₹2,000 crore.

Q3 FY26Capex to remain at historical run-rate excluding dedicated projectsTracked

Excluding the three dedicated CS projects, capex is expected to be approximately in line with historical levels, with Phase 2 expansion at Unit 3 under evaluation.

Expansion

Q2 FY26Three major capex programs with long-term supply commitmentsTracked

Three projects are at various stages (installation, qualification, validation) and expected to contribute revenue in 1-2 years, subject to regulatory approvals.

Revenue

Q2 FY26Constant currency revenue growth ~10-11% for FY26Active

Management expects constant currency growth for the full year to be similar to H1's 10.79%.

Q3 FY26Three dedicated CS projects to commercialize by Q3-Q4 CY2027Tracked

Three custom synthesis dedicated facilities are expected to start commercial volumes in the second half of calendar 2027, pending customer regulatory approvals.

Growth

Q2 FY26Generic pricing pressure to persist for next 2 quartersActive

Management does not foresee improvement in generic pricing for at least the next two quarters.

Q3 FY26Double-digit constant currency growth trajectory maintainedActive

Management reiterated expectation of double-digit constant currency growth, supported by a balanced pipeline of late-lifecycle and new product launches.