Suven Pharmaceuticals Ltd., a technology-led global Contract Development and Manufacturing Organization (CDMO), Q2 FY 25 revenue reached Rs. 258 crore, a growth of 12% YoY.

The company reported progress in its strategic initiatives, including a strong pipeline in Phase III, an increase in Request for Quotations (RFQs), and conversion of Spec-Chem/Ag-Chem business to SBU, setting the stage for future growth. Gross margins witnessed a 473 bps expansion driven primarily by business mix and the consolidation of the recently acquired oligonucleotide business. Adjusted EBITDA was Rs. 112 crore with EBITDA margins at 43.3%.

Pharma CDMO business has posted a 40% YoY in Q2 driven by BD efforts and backed by macro tailwinds, leading to a technology lead robust pipeline.

Vivek Sharma, Executive Chairman said, “There is a strong momentum favoring the CDMO sector, with India as the biggest beneficiary driven by efforts to diversify supply chains, along with supportive macroeconomic trends like the potential US Biosecure Act. Suven with its strong track record and extensive offerings, continues to be committed to offering a tech-led end-to-end CDMO platform to its customers.”

Dr. V. Prasada Raju, Managing Director, added, “On the front end, we have continued our concerted BD efforts to serve both the large innovator customers as well as select Biotechs, and we can see the green shoots of our efforts in our robust RFQ pipeline. From a delivery perspective, we have focused on backward integration and expanding our capabilities across the value chain, so we are well prepared to take forward the opportunities we envisage across Small molecules, ADC platform, and oligonucleotides. Our outlook for the medium to long term remains healthy.”

Overall, there is no change in outlook. H1 has been in line with our estimates, while H2 will see a better growth trajectory. We expect to grow on a full-year basis at a combined platform level with growth acceleration from FY26.