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Minority shareholder opposition to related-party transaction
View Risks →Onesource Specialty Pharma Ltd — Q4 FY26
Onesource Specialty Pharma delivered a strong Q4 FY26 recovery with revenue of ₹428.2 crore (up 47% QoQ) and EBITDA of ₹91.9 crore (up >5x QoQ), driven by the start of commercial shipments of generic semaglutide drug-device combinations in India and Canada.
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Onesource Specialty Pharma delivered a strong Q4 FY26 recovery with revenue of ₹428.2 crore (up 47% QoQ) and EBITDA of ₹91.9 crore (up >5x QoQ), driven by the start of commercial shipments of generic semaglutide drug-device combinations in India and Canada. The company reaffirmed its FY28 guidance of $400 million revenue with ~40% EBITDA margins, supported by capacity expansion (second line online in Q2, third by year-end) and a robust demand pipeline across regulated and emerging markets. Biologics funnel expanded 4x YoY, adding key partnerships. The related-party transaction with Ster Science was deferred due to valuation concerns from minority shareholders. Key risk: any delay in regulatory approvals or capacity ramp-up could temper the sequential growth trajectory.
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Semaglutide capacity (sterile days per line)
225 days
+0% YoY
Each line provides ~225 sterile manufacturing days; three lines will yield ~675 days by FY27-end.
Biologics funnel expansion
4x
+300% YoY
Biologics customer funnel expanded four times versus previous year, with new US and European biosimilar partners.
Customer base share of Indian generic semaglutide market
~67%
New metric
As of end-April, customers represent nearly two-thirds of the Indian generic semaglutide market by value.
Regulatory and customer audits completed
49
+0% YoY
Completed 49 regulatory and customer audits in FY26, including surprise FDA inspections with zero observations.
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Guidance and risk preview
Reaffirmed organic revenue guidance of $400 million for FY28, driven by semaglutide DDC and base business growth.
The proposed scheme to acquire Ster Science injectables business was deferred due to valuation concerns from a long tail of smaller investors, desp...
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