Morepen Laboratories Limited reported a strong performance in Q4 FY26, with net profit rising 69% year-on-year to ₹20 crore and gross revenue increasing 22% to ₹472 crore. Revenue growth was driven by export momentum and expansion in the Medical Devices business. The Board of Directors recommended a final dividend of 10% for FY26, subject to shareholder approval. The company also commenced commercial production under a multi-year global CDMO mandate worth ₹825 crore received in February 2026.

Quarterly and Annual Highlights

The company’s operational metrics showed significant improvement during the quarter. The API business grew 17%, while the Medical Devices business expanded 31% in Q4 FY26. For the full year, standalone gross revenue crossed ₹1,700 crore, an 8% increase. EBITDA stood at ₹32 crore in Q4 FY26 compared to ₹33 crore in the previous year, reflecting investments in manufacturing scale-up and regulated-market programs. A fourth consecutive USFDA inspection was completed with NIL 483 observations.

Strategic Developments

Backed by the ₹825 crore global CDMO mandate, Morepen has completed validation batches and aligned initial supply schedules for phased delivery. The company is expanding manufacturing capacity from ~500 KL toward ~800 KL, with a longer-term roadmap targeting ~1000 KL. Additionally, a pivotal bioequivalence study for Resmetirom 100 mg, used in treating liver fibrosis associated with MASH, was completed for major regulated markets outside the US.

Business Segments

The Medical Devices business continued to scale, with FY26 revenue growing 21% to ₹598 crore and an installed base of nearly 17 million repeat users. The platform is being developed as a separate high-growth healthcare business focused on chronic care and consumer diagnostics. Strategic investments across manufacturing, devices expansion, and healthcare platforms are expected to support operating leverage and margin expansion over the medium term.

morepen laboratories has transferred 1,62,000 equity shares of its subsidiary, Morepen Medipath Limited (MML), to Mr. Anubhav Suri, the Head of its Medical Devices Business. The decision follows 15 years of significant growth in the medical devices sector under his leadership. The company stated that the transfer is intended to align Mr. Suri's interests with the long-term growth and strategic objectives of MML, ensuring continuity of leadership as the business expands.

As a result of this transaction, Morepen Laboratories' shareholding in MML has decreased from 60% to 51%. Despite the reduction, MML will continue to remain a subsidiary of the company and will be consolidated in its financial statements. The consideration for the transfer was mutually agreed upon between the parties involved.

The shareholding pattern of MML has been revised following the transfer. Mr. Anubhav Suri, who previously held 0.10% equity shares, now holds 9.10% of the total paid-up share capital. The details of the pre and post-transaction shareholding are outlined below.

The disclosure was made in terms of Regulation 30 read with a SEBI master circular. The company's Corporate Office is located in Gurugram, Haryana, and its Registered Office is in Baddi, Himachal Pradesh.