Vivimed Labs Reports Widened Q3 FY26 Loss at ₹165.66 Million on Lower Revenue

2 min read Updated on 13 Mar 2026, 10:45 PM

Reviewed by

Radhika SScanX News Team

Overview

Vivimed Labs Limited reported significantly worsened financial performance for Q3 FY26 with net loss widening to ₹165.66 million from ₹74.45 million in Q3 FY25, while revenue declined to ₹116.31 million from ₹186.59 million. Nine-month results showed similar deterioration with loss increasing to ₹295.07 million and revenue falling to ₹342.33 million. Consolidated results mirrored standalone trends with Q3 FY26 loss at ₹165.54 million. Auditors expressed qualified conclusions citing unprovided interest charges of ₹164.52 million for the quarter and ongoing forensic audit evaluations.

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Vivimed Labs Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, revealing significant operational challenges with widened losses and declining revenue across both standalone and consolidated operations.

Standalone Financial Performance

The pharmaceutical company's standalone operations showed deteriorating performance in Q3 FY26. Revenue from operations declined substantially to ₹116.31 million compared to ₹186.59 million in Q3 FY25, representing a significant year-on-year decrease.

Metric	Q3 FY26	Q3 FY25	Change
Revenue from Operations	₹116.31 million	₹186.59 million	Decline
Net Loss	₹165.66 million	₹74.45 million	Widened
Basic EPS	₹(2.00)	₹(0.90)	Worsened
Diluted EPS	₹(1.94)	₹(0.87)	Worsened

For the nine-month period ended December 31, 2025, the company's financial position remained challenging. Revenue decreased to ₹342.33 million from ₹482.33 million in the corresponding period of FY25, while the net loss increased to ₹295.07 million compared to ₹270.79 million in 9M FY25.

Consolidated Results Mirror Standalone Trends

The consolidated financial results, which include subsidiaries Finoso Pharma Private Limited, Vivimed Holdings Limited, Vivimed Labs USA INC, and Vivimed Labs Mauritius Limited, along with associate Yantra Green Power Private Limited, showed similar performance patterns.

Period	Consolidated Revenue	Consolidated Loss
Q3 FY26	₹159.89 million	₹165.54 million
Q3 FY25	₹365.10 million	₹59.75 million
9M FY26	₹579.89 million	₹293.49 million
9M FY25	₹906.55 million	₹263.61 million

Expense Structure and Cost Management

The company's expense structure revealed several key areas of concern. Total expenses for Q3 FY26 standalone operations reached ₹281.97 million compared to ₹262.64 million in Q3 FY25. Notable expense components included:

Cost of material consumed: ₹69.57 million
Employee benefit expenses: ₹26.82 million
Other expenses: ₹142.41 million
Depreciation and amortisation: ₹44.02 million
Finance costs: ₹9.43 million

Auditor Qualifications and Concerns

The statutory auditors SVRL & Co. expressed qualified conclusions on both standalone and consolidated results, highlighting several significant matters:

Key Audit Concerns:

Unprovided interest, penal interest and charges of approximately ₹164.52 million for Q3 FY26 and ₹472.37 million for nine months ended December 31, 2025
Ongoing evaluation of forensic audit observations from FY 2022-23
Commission expense provision of ₹46.03 million relating to earlier financial years requiring additional documentation

Debt and Financial Structure

The company disclosed that total debt from SBI Bank has been assigned to Rare Asset Reconstruction Company (ARC) under SARFAESI Act, 2002. The liability continues to be shown under borrowings and remains payable to RARE ARC. The paid-up equity share capital stood at ₹165.83 million across all reporting periods.

The Board of Directors approved these results at their meeting held on March 13, 2026, with the meeting concluding at 21:30 hours. The results were prepared in accordance with Indian Accounting Standards prescribed under Section 133 of the Companies Act, 2013.

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