Windlas Biotech FY26 Net Profit Rises 9% to Rs 66 Cr

Windlas Biotech has announced its audited financial results for the quarter and financial year ended March 31, 2026. The company reported its highest ever revenue from operations at Rs 904.09 crore for FY26, a growth of 19% compared to Rs 759.88 crore in the previous year. Profit for the year stood at Rs 66.44 crore, registering a growth of 9% year-on-year from Rs 60.95 crore. The Board of Directors has recommended a dividend of Rs 6.30 per equity share of the face value of Rs 5 each, subject to shareholder approval.

For the quarter ended March 31, 2026, revenue from operations stood at Rs 238.50 crore, an increase of 18% from Rs 202.71 crore in the corresponding quarter of the previous year. Profit for the quarter was Rs 16.02 crore. Basic earnings per share (EPS) for FY26 rose to Rs 31.59 from Rs 29.03 in the previous year. The company reported a net liquidity position and remained net debt free.

Financial Performance

The company achieved its highest ever Adjusted EBITDA of Rs 121 crore in FY26, a 26% YoY growth, with a margin of 13.4%. Reported EBITDA for the year was Rs 105 crore. The Board meeting was held on May 21, 2026, to consider and approve the financial results.

Metric	FY26 (Rs. in crores)	FY25 (Rs. in crores)	Q4FY26 (Rs. in crores)	Q4FY25 (Rs. in crores)
Revenue from Operations	904.09	759.88	238.50	202.71
Adjusted EBITDA	121	97	33	26
Adjusted PAT	83	63	23	17
Reported PAT	66.44	60.95	16.02	16.29
Basic EPS (Rs.)	31.59	29.03	7.60	7.77

Operational Highlights

The Generic Formulations CDMO vertical recorded its highest ever revenue of Rs 664 crore in FY26, a 20% YoY growth, contributing 73% to the consolidated revenue. The Trade Generics & Institutional vertical reported revenue of Rs 195 crore, up 13% YoY. The Exports vertical grew by 40% to Rs 46 crore during the fiscal year.

During the year, the company completed a buyback of 470,000 fully paid-up equity shares at a price of Rs 1,000 per share, aggregating to Rs 47 crore.

Windlas Biotech Limited has approved the grant of stock options and units to eligible employees under its employee benefit schemes. The Nomination and Remuneration Committee of the Board of Directors sanctioned the allotment on May 21, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company granted a total of 37,000 options and units across two distinct plans. The WBL Employee Stock Option Scheme 2023 (ESOS 2023) accounted for 15,750 options, while the Windlas Plan 2025 accounted for 21,250 units. Each option or unit, upon exercise, entitles the holder to one fully paid-up equity share with a face value of ₹5.

Details of the Grant

The schemes differ in their pricing structures and vesting schedules. The ESOS 2023 options are priced at a discount of up to 25% from the market price of the shares as on the date of grant. Conversely, the units under the Windlas Plan 2025 are granted at face value, specifically ₹5 per unit.

Scheme Breakdown

Scheme Name	Options Granted	Pricing Formula	Vesting Period
WBL Employee Stock Option Scheme 2023	15,750	Discount up to 25% from market price	Minimum 1 year, Maximum 4 years
Windlas Plan 2025	21,250	₹5 (Face Value)	4 equal instalments over 48 months

Vesting and Exercise Terms

Options granted under the ESOS 2023 will vest not earlier than one year and not later than four years from the grant date. The exercise period for these vested options is a maximum of four years commencing from the vesting date.

For the Windlas Plan 2025, the units vest in four equal instalments of 25% each. These instalments vest upon the expiry of 12, 24, 36, and 48 months respectively from the effective grant date. Vested units under this plan can be exercised within a period of four years from the date of vesting, subject to the conditions specified in the plan.