Kiran Mazumdar-Shaw

We are now moving from a phase of integration and investment to one focused on execution, operating leverage, and value creation.

FY27 will be a transition year for Syngene with important leadership changes already underway to position this company for its next phase of growth, particularly in CDMO, biologics, and emerging AI enabled service lines.

We expect a broadly flat performance for FY27 while maintaining EBITDA margins in the mid-20s through disciplined cost management and sharper operational executions.

Q3 FY26 represents an important operational inflection point for Biocon. With major capex now largely behind us and operating leverage beginning to play out, we are progressing from a phase of balance sheet resilience into a cycle of sustainable growth, margin expansion and a cash flow-led value creation.