Viyash Scientific Turns Profitable, Net Profit Surges
Viyash Scientific Limited announced its audited financial results for Q4 and FY26, reporting a consolidated net profit of ₹663.80 million for the quarter, a significant turnaround from a loss of ₹321.80 million in the prior year. Consolidated revenue increased by 19.1% to ₹9,199.60 million, driven by a 28% rise in formulations revenue and a 5% increase in APIs revenue. For the full fiscal year, revenue grew 13.8% to ₹34,203.10 million, with net profit surging to ₹2,246.50 million and EBITDA rising 59.6% to ₹7,025 million.
*this image is generated using AI for illustrative purposes only.
Viyash Scientific Limited has announced its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The company reported a significant turnaround in profitability for the fourth quarter on both standalone and consolidated bases, driven by strong revenue growth and operational efficiency improvements. The merger process, approved by all regulatory authorities, is now in effect, with the company focusing on synergy realization over the next 12 months.
Q4 FY26 Consolidated Financial Performance
Viyash Scientific reported a consolidated net profit of ₹663.80 million for the fourth quarter, compared to a net loss of ₹321.80 million in the corresponding period of the previous year. On a standalone basis, the net profit stood at ₹358.10 million against a net loss of ₹193.70 million in Q4 FY25. Consolidated revenue from operations for the quarter came in at ₹9,199.60 million, compared to ₹7,723.10 million in the year-ago period, reflecting strong year-on-year growth. The company's EBITDA for the quarter surged by 63.8% to ₹2,001 million, with the EBITDA margin expanding by 590 basis points to 21.7%.
The gross margin for the quarter improved to 55.1%, up from 52.8% in Q4 FY25. Earnings before tax (EBT) for the quarter were reported at ₹1,252.40 million on a consolidated basis, compared to a loss of ₹366.60 million in the prior year. The net debt position also strengthened significantly, with the Net Debt to LTM EBITDA ratio reducing to 0.2x from 1.0x in FY25.
| Metric | Q4 FY26 | Q4 FY25 | YoY Change |
|---|---|---|---|
| Consolidated Revenue | ₹9,199.60 Mn | ₹7,723.10 Mn | Growth |
| Consolidated Net Profit | ₹663.80 Mn | Loss ₹321.80 Mn | Turnaround |
| Standalone Revenue | ₹3,724.90 Mn | ₹3,443.20 Mn | +8.2% |
| Standalone Net Profit | ₹358.10 Mn | Loss ₹193.70 Mn | Turnaround |
| EBITDA (Consolidated) | ₹2,001 Mn | ₹1,221 Mn | +63.8% |
| EBITDA Margin | 21.7% | 16.1% (approx.) | +590 bps |
| Gross Margin | 55.1% | 52.8% | Improvement |
| EBT (Consolidated) | ₹1,252.40 Mn | Loss ₹366.60 Mn | Turnaround |
| Net Debt/LTM EBITDA | 0.2x | 1.0x | Improvement |
Annual Performance FY26
Viyash Scientific delivered robust growth for the full fiscal year 2025-26. Total consolidated revenue from operations for FY26 reached ₹34,203.10 million, marking a 13.8% increase over the previous year's ₹30,068.40 million. The company's consolidated net profit for the year stood at ₹2,246.50 million, a sharp rise from ₹157.70 million in FY25.
Annual EBITDA grew by 59.6% to ₹7,025 million, with an EBITDA margin of 20.5%, an improvement of 590 basis points year-on-year. The gross margin for the year was recorded at 54.3%. The company noted that FY26 was a transformative year, marked by the successful integration of facilities and operations, which began to reflect meaningfully in the financial performance through merger synergies.
| Metric | FY26 | FY25 | YoY Change |
|---|---|---|---|
| Revenue from Operations | ₹34,203.10 Mn | ₹30,068.40 Mn | +13.8% |
| Net Profit | ₹2,246.50 Mn | ₹157.70 Mn | Sharp Rise |
| EBITDA | ₹7,025 Mn | — | +59.6% |
| EBITDA Margin | 20.5% | — | +590 bps |
| Gross Margin | 54.3% | — | — |
Operational and Business Updates
The company reported progress across its business segments during the quarter. Formulations revenue grew by 28% year-on-year in Q4 to ₹4,991 million, while APIs revenue increased by 5% to ₹3,836 million. Geographically, Europe and Emerging Markets were key contributors to the growth in formulations.
On the operational front, the company completed 2 regulatory audits and 36 customer audits during the period. It secured regulatory approvals for 4 APIs and 4 Finished Dosage Forms (FDFs) from the USFDA. Additionally, the company launched 5 APIs and 1 FDF in various markets including the USA, MENA, and Canada.
| Segment/Activity | Details |
|---|---|
| Formulations Revenue (Q4) | ₹4,991 Mn (+28% YoY) |
| APIs Revenue (Q4) | ₹3,836 Mn (+5% YoY) |
| Regulatory Audits Completed | 2 |
| Customer Audits Completed | 36 |
| USFDA API Approvals | 4 |
| USFDA FDF Approvals | 4 |
| New Launches (APIs) | 5 (USA, MENA, Canada) |
| New Launches (FDF) | 1 |
Historical Stock Returns for Viyash Scientific
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.60% | +6.77% | +18.27% | +3.07% | +37.67% | -9.84% |
With the merger synergies expected to be fully realized over the next 12 months, what specific cost savings or revenue targets has Viyash Scientific set as benchmarks for successful integration?
Given the strong 28% YoY growth in formulations driven by Europe and Emerging Markets, how vulnerable is Viyash Scientific's revenue outlook to potential regulatory or geopolitical disruptions in these key geographies?
With the Net Debt/EBITDA ratio now at a comfortable 0.2x, how is the company likely to deploy its strengthened balance sheet — through acquisitions, capacity expansion, or shareholder returns?
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