Alivus Life Sciences Limited (formerly Glenmark Life Sciences Limited) reported a net profit of ₹5,645 million for the financial year ended March 31, 2026 (FY26), marking a 16% year-on-year increase from ₹4,857 million in FY25. The Mumbai-based active pharmaceutical ingredient (API) manufacturer delivered this growth despite the absence of Production Linked Incentive (PLI) benefits, which were withdrawn after FY24. The results underscore the effectiveness of its disciplined cost management and strategic shift towards higher-value, differentiated products.

Revenue from operations rose by 7% to ₹25,518 million in FY26, compared to ₹23,869 million in FY25. This top-line growth was primarily driven by a 13% expansion in its non-Glenmark Pharmaceuticals Limited (non-GPL) business, which now contributes 71% of overall revenues. The company also witnessed a meaningful recovery in its Contract Development and Manufacturing Organization (CDMO) segment, which recorded an 18% year-on-year growth as existing projects gained traction and newer initiatives scaled up.

The Board of Directors recommended a final dividend of ₹5 per equity share (face value ₹2 each), amounting to an outflow of approximately ₹613 million, subject to shareholder approval at the ensuing Annual General Meeting. Statutory auditors Walker Chandiok & Co LLP issued an unqualified opinion on the financial statements, confirming compliance with Indian Accounting Standards (Ind AS).

Financial Performance Highlights

The company’s operating efficiency improved significantly, with EBITDA rising by 20% to ₹8,577 million in FY26, up from ₹7,172 million in FY25. This expansion in operating profits allowed Alivus to achieve a record EBITDA margin of 33.6%, an improvement of 360 basis points from the previous year. Net profit margins also expanded to 22.1% from 20.4% in FY25.

Earnings per share (EPS) increased by 16% to ₹45.99 in FY26, compared to ₹39.63 in FY25. Total income, including other income, grew by 8% to ₹26,122 million. Employee benefits expenses rose by 8% to ₹2,725 million due to annual increments and headcount increases, while other expenses increased by 12% to ₹4,155 million, partly offset by a 3% decrease in utility charges.

What the Numbers Show

A critical observation from the FY26 results is the decoupling of profitability from government incentives. While revenue growth remained moderate at 7%, EBITDA expanded by 20%, indicating significant operational leverage. The company maintained its net debt-free status, with cash and cash equivalents standing at ₹7,824 million as of March 31, 2026, up from ₹5,487 million in FY25. This strong liquidity position supports its planned capital expenditure of approximately ₹540 crore for FY27, funded entirely through internal accruals, aimed at expanding manufacturing capacity at Solapur and establishing a new R&D center at Taloja.

Alivus Life Sciences Limited will hold its 15th Annual General Meeting on Tuesday, September 8, 2026, to approve a final dividend of ₹5 per equity share and re-appoint key leadership. The meeting, conducted via Video Conferencing or Other Audio-Visual Means (VC/OAVM), addresses critical governance and financial resolutions for the financial year ended March 31, 2026. Shareholders are advised that the record date for dividend entitlement is September 1, 2026, with payments scheduled for release on or after September 11, 2026.

The agenda includes ordinary business items such as the adoption of audited financial statements and the declaration of dividends, alongside special business regarding cost auditor remuneration. The company has appointed Mr. Bhadrash Shah, Practicing Company Secretary, as the Scrutinizer to oversee the e-voting process in compliance with SEBI Listing Regulations. Remote e-voting facilities are available from September 4, 2026, at 9:00 a.m. IST until September 7, 2026, at 5:00 p.m. IST, ensuring broad shareholder participation.

Key Resolutions and Financial Details

The primary financial resolution involves the payment of a final dividend of ₹5 per equity share, each having a face value of ₹2. This distribution is contingent upon approval by shareholders during the AGM. The company has fixed September 1, 2026, as the cut-off date for determining eligibility for both voting rights and dividend entitlement. Dividends will be credited electronically to members' bank accounts via the National Automated Clearing House (NACH) facility.

Leadership and Governance Updates

Shareholders will vote on the re-appointment of Mr. Hiren Patel as a Non-Executive Director. Mr. Patel, aged 53, retires by rotation under Section 152(6) of the Companies Act, 2013, and offers himself for re-appointment. He serves as the Chairman and has been associated with the company since March 6, 2024, following the change in ownership to Nirma Limited. His expertise spans consumer goods, chemicals, cement, and healthcare industries.

Additionally, the Board seeks ratification for the remuneration payable to Kirit Mehta & Co. LLP, the Cost Auditors, for the financial year ending March 31, 2027. The approved remuneration is ₹0.50 million plus applicable taxes and reimbursement of actual travel and out-of-pocket expenses. This appointment was recommended by the Audit Committee and approved by the Board on May 14, 2026.

What the Numbers Show

The proposed dividend of ₹5 per share represents a significant return to shareholders, reflecting the company's cash generation capabilities post-acquisition by Nirma Limited. With all shares held in dematerialized form, the streamlined electronic dividend process via NACH aims to reduce transit delays and enhance investor convenience. The re-appointment of Mr. Patel signals continuity in strategic leadership, leveraging his extensive experience within the Nirma group to drive further growth in Alivus Life Sciences' portfolio.