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SANJIVANIPARANTERAL Diversified 10 Feb 2026

Sanjivani Paranteral Ltd — Q3 FY26

Sanjivani Paranteral delivered a strong Q3 FY26 with consolidated revenue of ₹22.1 crore (+27.1% YoY) and EBITDA margin expansion of 230 bps to 18.5%, driven by favorable product mix and first-time contribution from the Pune IV fluids JV (₹1.2 crore).

bullish high
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Revenue ₹22 Cr +27.1%
EBITDA ₹4 Cr +44.8%
PAT ₹3 Cr +46.3%
EBITDA Margin 18.5% +230bps
Duration 33 min
Read Time 1 min read

✓ Verified against BSE filing

2-Minute Summary

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Sanjivani Paranteral delivered a strong Q3 FY26 with consolidated revenue of ₹22.1 crore (+27.1% YoY) and EBITDA margin expansion of 230 bps to 18.5%, driven by favorable product mix and first-time contribution from the Pune IV fluids JV (₹1.2 crore). Standalone revenue grew 20.2% to ₹20.9 crore, with oral solids surging 153% YoY. Management guided FY27 standalone revenue of ₹90 crore and SPL Infusion revenue of ₹60-65 crore, implying ~50% consolidated growth. The Pune facility is ramping up (23-27% utilization) and targets 40-50% utilization by FY27. Risks include execution delays in product approvals and potential margin volatility from product mix shifts.

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Focused Modules

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Risk Intelligence

Execution risk in product approvals for Pune facility

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Quarter Snapshot

Injectable Revenue ₹11.7 crore
-9.7% YoY

Injectable segment declined due to product mix shift; oral solids grew 153%.

Oral Solids Revenue ₹8.6 crore
+153.3% YoY

Strong growth driven by export demand and product mix improvements.

SPL Infusion Revenue ₹1.2 crore
First-time contribution

Pune IV fluids JV began commercial production; initial ramp-up phase.

Export Share 76.9%
N/A

Exports to Middle East, Africa, Latin America remain dominant revenue source.

Fast read

Guidance and risk preview

Top guidance FY27 standalone revenue target of ₹90 crore

Management expects base business (standalone) to reach ₹90 crore in FY27, implying ~20% growth over FY26 estimated ₹73-75 crore.

Top risk Execution risk in product approvals for Pune facility

Ramp-up of SPL Infusion depends on obtaining approvals for 23-24 products; delays could impact revenue targets.

View Risks →