CDMO Revenue (FY26)
INR 1,133 cr
+24% YoY
CDMO segment grew driven by new customers and deeper wallet share.
INNOVACAPTAB
Other
15 May 2026
Innova Captab Ltd — Q4 FY26
Innova Captab delivered a strong Q4 FY26 with revenue of INR 448 cr (+42% YoY) and full-year revenue of INR 1,630 cr (+31% YoY), driven by broad-based growth across CDMO (+24% to INR 1,133 cr) and branded generics (+51% to INR 497 cr).
✓ Verified against BSE filing
2-Min Summary
✦ AI-Generated from Full Transcript
Innova Captab delivered a strong Q4 FY26 with revenue of INR 448 cr (+42% YoY) and full-year revenue of INR 1,630 cr (+31% YoY), driven by broad-based growth across CDMO (+24% to INR 1,133 cr) and branded generics (+51% to INR 497 cr). The Jammu facility contributed ~INR 300 cr in FY26 and is nearing breakeven, with management expecting margin expansion as utilization ramps. EBITDA margin for FY26 was 15.4%, down ~60bps YoY due to product mix, but management guided for EBITDA growth to outpace revenue growth in FY27. PAT grew 10% to INR 140.9 cr, with depreciation and interest costs largely fixed. Key risks include raw material price volatility from geopolitical tensions and potential margin pressure from new capex at Baddi. Overall, the company is well-positioned to sustain 20%+ revenue growth with improving profitability.
Key Numbers
Branded Generics Revenue (FY26)
INR 497 cr
+51% YoY
Strong growth from geographical expansion and deeper penetration.
Jammu Facility Revenue (FY26)
INR 300 cr
N/A (first full year)
Jammu facility nearing breakeven; expected to contribute positively in FY27.
Customer Base (CDMO)
350+
N/A
Expanded customer base to over 350 clients, including leading pharma companies.
Management Guidance
20%+ revenue growth in FY27
Management expects to maintain 20%+ revenue growth driven by capacity ramp-up, product portfolio expansion, and market penetration.
Management guidance revenueEBITDA growth to outpace revenue growth in FY27
With improving scale and operating leverage, EBITDA growth is expected to exceed revenue growth, aided by Jammu facility ramp-up.
Management guidance marginsPAT growth to outpace EBITDA growth as Jammu scales
As depreciation and interest costs are largely fixed, incremental revenue from Jammu will drive PAT growth faster than EBITDA.
Management guidance growthCapex of INR 150-170 cr for new Baddi facility over FY27-28
A new general oral block at Baddi is planned with capex spread over two years, expected to generate INR 450-500 cr revenue at optimum level.
Management guidance capexKey Risks
Raw material price volatility
Geopolitical tensions have led to an uptick in API and raw material prices, which could pressure margins if not fully passed on.
medium · analyst_questionExecution risk at new Baddi facility
The new Baddi plant involves significant capex and may take time to ramp up, potentially impacting near-term profitability.
medium · analyst_questionProduct mix impact on margins
EBITDA margin declined 60bps YoY due to product mix changes; further shifts could limit margin expansion.
low · data_observationDependence on Jammu facility ramp-up
Jammu facility is still near breakeven; any delay in scaling could affect overall growth and margin targets.
medium · management_commentaryNotable Quotes
FY26 has been a defining year for Innova Captab as we achieved our highest ever annual performance reflecting the strength of our business model, aggregation capability and customer relationship.
We are confident in our ability to deliver 20% plus revenue growth and create long-term value for stakeholders.
With improving scale and operating leverage, we expect EBITDA growth to outperform revenue growth.
Frequently Asked Questions
What was Innova Captab's revenue in Q4 FY26?
Innova Captab reported revenue of ₹448 Cr in Q4 FY26, representing a +31% change compared to the same quarter last year.
What guidance did Innova Captab management give for FY27?
20%+ revenue growth in FY27: Management expects to maintain 20%+ revenue growth driven by capacity ramp-up, product portfolio expansion, and market penetration. EBITDA growth to outpace revenue growth in FY27: With improving scale and operating leverage, EBITDA growth is expected to exceed revenue growth, aided by Jammu facility ramp-up. PAT growth to outpace EBITDA growth as Jammu scales: As depreciation and interest costs are largely fixed, incremental revenue from Jammu will drive PAT growth faster than EBITDA. Capex of INR 150-170 cr for new Baddi facility over FY27-28: A new general oral block at Baddi is planned with capex spread over two years, expected to generate INR 450-500 cr revenue at optimum level.
What are the key risks for Innova Captab in FY27?
Key risks include Raw material price volatility — Geopolitical tensions have led to an uptick in API and raw material prices, which could pressure margins if not fully passed on.; Execution risk at new Baddi facility — The new Baddi plant involves significant capex and may take time to ramp up, potentially impacting near-term profitability.; Product mix impact on margins — EBITDA margin declined 60bps YoY due to product mix changes; further shifts could limit margin expansion.; Dependence on Jammu facility ramp-up — Jammu facility is still near breakeven; any delay in scaling could affect overall growth and margin targets..
Did Innova Captab meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Innova Captab Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary verified against official BSE/NSE filings.