Kwality Pharmaceuticals Limited has restructured its Board of Directors with the appointment of Mr. Swanith Kapoor as an Additional Independent Director and the resignation of Mr. Kartik Kapur from his position as Independent Director. These leadership changes, effective June 02, 2026, were communicated to the Bombay Stock Exchange in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Appointment of Swanith Kapoor

The Board, based on the recommendation of the Nomination and Remuneration Committee, appointed Mr. Swanith Kapoor (DIN: 11662482) as an Additional (Non-Executive, Independent) Director. His tenure is set for five years, running from June 02, 2026, to June 01, 2031, subject to approval by the shareholders of the company.

Mr. Kapoor is a qualified legal professional holding a B.B.A. LL.B. (Hons.) with a specialization in Corporate Law from the School of Law, University of Petroleum and Energy Studies, Dehradun. He was awarded the University Silver Medal and holds a Post Graduate Diploma in Medical Law and Ethics from NLSIU, Bengaluru. He is currently pursuing a Master's in Business Laws from NLSIU, Bengaluru. His previous experience includes legal internships with TCS, Mumbai, and Dhir & Dhir Law Offices, New Delhi. The company confirmed that he satisfies the criteria for independence under the Companies Act, 2013, and SEBI Listing Regulations and is not debarred from holding the office of Director.

Resignation of Kartik Kapur

Mr. Kartik Kapur (DIN: 08966816) tendered his resignation as an Independent Director, effective from the close of business hours on June 02, 2026. The resignation was attributed to his other professional commitments. In his resignation letter, Mr. Kapur confirmed that there were no other material reasons for his departure and that he does not hold directorships or committee memberships in any other listed entities. The Board placed on record its appreciation for his contributions during his tenure.

Director Details

The following table summarizes the key details regarding the changes in the Board composition:

Kwality Pharmaceuticals has reported its audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026. The company achieved its highest-ever annual revenue of ₹503 crore in FY26, reflecting a robust growth of 36% compared to ₹370 crore in the previous fiscal year. Profit After Tax (PAT) for the year stood at ₹67.34 crore, marking a significant increase of 69% year-on-year from ₹39.80 crore in FY25. The Board approved these results on May 19, 2026.

Q4 Standalone Financial Performance

For the fourth quarter of FY26, Kwality Pharmaceuticals delivered strong standalone results, with net profit rising to ₹25.29 crore compared to ₹14.50 crore in the corresponding quarter of the previous year. Quarterly revenue came in at ₹157.12 crore versus ₹115.68 crore year-on-year, reflecting continued momentum in the business. EBITDA for the quarter stood at ₹38.70 crore compared to ₹25.90 crore in the same period last year, with EBITDA margins expanding to 24.70% from 22.40% year-on-year. The following table summarizes the key Q4 standalone metrics:

Operational Performance

For the fourth quarter of FY26, the company recorded its strongest-ever quarterly revenue of ₹157.11 crore, a growth of 35.8% over the corresponding quarter last year. EBITDA margins improved to 24% in FY26, expanding by approximately 200 basis points from 22% in the previous year. This expansion was driven by an improved product mix, higher contribution from regulated and semi-regulated markets, and operating leverage benefits. PAT margins also expanded by nearly 260 basis points to 13.4% in FY26 from 10.8% in FY25.

Strategic Developments

During the year, the company successfully cleared multiple international regulatory and customer audits. Its credit rating was upgraded to BBB+ from B+ by ICRA, reflecting a strengthened financial profile. The company initiated a large-scale Bioequivalence (BE) program covering over 40 Oral Solid Dosage (OSD) molecules and accelerated investments into its biologics pipeline. Management noted that geopolitical conditions in the Middle East began normalizing from mid-April 2026, leading to stabilization in supply chains and payment realizations.

Annual Financial Highlights

The key annual financial metrics for the period are summarized below:

FY27 Guidance

Building on its record FY26 performance, Kwality Pharmaceuticals has outlined its financial projections for FY27. The company targets revenues of over ₹650 crore, EBITDA of ₹160 crore at a margin of 25%, and net profit of ₹100 crore. The company also targets doubling revenues over the next three years, with an aspirational milestone of achieving ₹1,000 crore in topline by FY29.

Future Outlook and Capex

Management provided detailed guidance for the coming years, projecting FY28 revenue between ₹800 crore and ₹850 crore with EBITDA margins of 28%, and FY29 revenue of ₹1,000 crore with 30% EBITDA margins. Oncology revenue is expected to contribute ₹300 crore to the FY29 target, with EBITDA margins for the segment averaging 32% (40% for peptide products and 25% for routine oncology). The company plans a total capex of ₹260 crore to ₹270 crore across four projects, including hormones, oncology expansion, biosimilars, and R&D. Of this, ₹46 crore was spent in FY26, with ₹90 crore planned for FY27 and ₹90 crore to ₹100 crore for FY28. The company also expects to commission Unit 6 for hormones by November 2026, targeting ₹150 crore in revenue from unregulated and semi-regulated markets before FY29.