Alivus Life Sciences Limited (formerly Glenmark Life Sciences Limited), a key developer of high-value APIs, has reported a solid set of FY26 results, marked by higher profitability and steady revenue expansion.

 

The company posted Revenue from operations of Rs. 25,518 Mn for FY26, up 6.9% year-on-year. In Q4FY26, revenue stood at Rs. 6,891 Mn, reflecting a 6.1% YoY increase.

 

Profitability strengthened sharply through the year. EBITDA for FY26 rose to Rs. 8,577 Mn, a 19.6% YoY growth, with margins expanding to 33.6%, up 360 basis points. For Q4FY26, EBITDA came in at Rs. 2,373 Mn, up 13.8% YoY, with margins improving to 34.4%, a 230 basis point increase.

 

The bottom line also improved. PAT for FY26 stood at Rs. 5,645 Mn, up 16.2% YoY, with margins at 22.1%—an increase of 180 basis points. In Q4FY26, PAT rose to Rs. 1,627 Mn, a 14.7% YoY increase, with margins of 23.6%, also up 180 basis points.

 

Cash generation remained strong. The company reported free cash flow of Rs. 2,590 Mn for FY26, ending the year with Cash and Cash Equivalents (including short-term investments) of Rs. 7,824 Mn as of March 31, 2026.

 

Commenting on performance, Yasir Rawjee, MD & CEO, Alivus Life Sciences Limited said, “The past two years under Nirma's ownership have been deeply fulfilling — a period of transition and evolution that has strengthened the foundation of the business and positioned us decisively for the next phase of sustainable growth.

 

"Coming to our results, FY26 reflected a clear improvement in our operating performance. Revenue grew 6.9% year-on-year, supported by growth in non-GPL business of 13%, which resulted in EBITDA growth of 19.6%. 

 

"Encouragingly, the CDMO business delivered the turnaround we had planned in the second half, closing the year with 18% YoY growth. We also witnessed healthy momentum across key geographies like India, Europe, ROW, Japan and LATAM, while the GPL business de-grew by 4.9%."

 

He added: "For FY27, we remain confident of delivering high single-digit revenue growth, with margins sustained above 30%, supported by improving operating leverage and a rising contribution from new products.”

 

Tushar Mistry, CFO, Alivus Life Sciences Limited said, “We continued our strong growth momentum in Q4FY26, delivering 6.1% year-on-year revenue growth. We ended FY26 with 6.9% growth. The performance was broad-based, with contributions from almost all regions. At Alivus, we remain focused on profitable growth, reflected in the improvement in both, our Gross and EBITDA margins during the quarter.

 

"For the full year, we reported EBITDA margins of 33.6%, exceeding our guided range of 30–32%, driven by a favourable product mix and disciplined control over operating expenses. The year has ended with strong operating cash flows, providing us ample flexibility to support our growth initiatives while maintaining a healthy, debt-free balance sheet.”