Gufic Biosciences Limited — Q3 FY26

Gufic Biosciences reported Q3 FY26 revenue of ₹231.1 crore, flat sequentially, as a conscious ₹14-16 crore revenue hit from restructuring critical care and SPARSH distribution to reduce debtor days from 140 to 120 masked underlying growth. Exports grew ~40% YoY, while domestic branded business grew only ~8% due to the working capital correction. Indore plant utilization reached ~36-38 crore quarterly output (from 20-25 crore), with EU GMP audit completed in December and certificate expected by March/April, enabling regulated market exports from Q4/Q1. Management guided 15% minimum revenue growth for FY27, with EBITDA margins expected to improve from 16% to 19% as Indore utilization exceeds 50%. Key risk: debt remains elevated at ₹375 crore, with no reduction expected before FY28.