Alivus Life Sciences Limited (formerly Glenmark Life Sciences), reported a resilient first quarter for FY27, with margin expansion and continued momentum in its non-GPL (non-Glenmark Pharmaceuticals) business offsetting an anticipated seasonal dip in its legacy GPL segment.

Mumbai-headquartered API and CDMO player posted revenue of Rs. 6,404 million for the quarter ended June 30, 2026, up 6.4% year-on-year, though down 7.1% sequentially — a decline management attributed to the GPL business's historical skew toward the second half of the fiscal year. 

EBITDA came in at Rs. 2,341 million, translating to a margin of 36.6%, an improvement of 650 basis points year-on-year.  

Profit after tax rose to Rs. 1,601 million, up 31.8% YoY, with net margins climbing to 25.0% from 20.2% a year earlier. Earnings per share stood at Rs.13.04 for the quarter. 

Gross margins expanded to 60.2%, up 510 basis points YoY, which the company credited to a favorable product mix and new product launches. The quarter also saw strong free cash generation of Rs. 901 million, pushing cash and cash equivalents (including short-term investments) to Rs. 8,802 million as of June 30, 2026.

The standout performer was the non-GPL portfolio, which grew 27.6% quarter-on-quarter and 26.5% year-on-year, now accounting for 88.7% of total revenue — up sharply from 64.6% in the previous quarter. 

The GPL business, by contrast, saw a 52.6% year-on-year decline due to inventory rationalization, though the company expects a recovery in the second half and a broadly flat outcome for the full year.

Within segments, Generic API revenue grew 7.4% YoY to Rs. 5,921 million, while the CDMO business grew 3.8% YoY to Rs. 378 million, with several new projects reportedly in advanced discussion stages expected to drive stronger growth in H2 FY27.

Managing Director & CEO Dr. Yasir Rawjee said, “The quarter reflected the resilience of the business model and continuing traction in the non-GPL portfolio, adding that the company remains confident of full-year revenue growth of 10–12% while sustaining EBITDA margins in the 30–32% range.”