Alivus Life Sciences Limited , a leading pharmaceutical company, has reported strong financial results for the second quarter of fiscal year 2026, demonstrating resilience in a dynamic market environment.

Key Financial Highlights

Revenue Growth Drivers

The company's 16% year-on-year revenue growth was primarily driven by:

1. Strong performance in the non-GPL (Glenmark Pharmaceuticals Limited) business, which grew by 39.70%.
2. Successful new product launches.
3. Robust growth in emerging markets, LATAM, Japan, Europe, and India (excluding GPL).

Margin Expansion

Alivus Life Sciences witnessed significant margin expansion in Q2 FY26:

• Gross margin improved to 57.70%, up 210 basis points year-on-year.
• EBITDA margin expanded to 33.00%, an increase of 480 basis points compared to the same quarter last year.

The margin improvement was attributed to rationalized input costs, new product launches, and a favorable product mix.

Segment Performance

• The non-GPL API business was the primary growth driver, with strong performances across multiple regions.
• The GPL segment experienced a decline due to customer inventory rationalization but is expected to recover in the second half of FY26.
• The CDMO (Contract Development and Manufacturing Organization) business showed mixed results but is anticipated to rebound in H2 FY26 with the addition of new projects and ramp-up of existing ones.

Future Outlook

Dr. Yasir Rawjee, Managing Director and CEO of Alivus Life Sciences, expressed confidence in the company's growth trajectory:

• Reaffirmed guidance of high single-digit revenue growth for FY26.
• Expects stronger performance in the second half of the year.
• Anticipates sustaining margins at around 30% despite the absence of PLI (Production Linked Incentive) benefits.

Strategic Initiatives

1. Capacity expansion projects at Solapur, Ankleshwar, and Dahej are progressing as planned.
2. The company maintains a robust pipeline with 586 DMF and CEP filings globally.
3. Focus on high-potent API portfolio development, with 26 products in the active grid representing a total addressable market of $66.00 billion.

Financial Position

Alivus Life Sciences continues to maintain a strong financial position:

• Remains debt-free.
• Cash and cash equivalents, including short-term investments, stood at ₹653.00 crores as of September 30, 2025.
• Generated cash flow from operations of ₹148.00 crores in H1 FY26.

The company's solid Q2 FY26 performance, coupled with its strategic initiatives and strong financial position, positions Alivus Life Sciences well for sustained growth in the coming quarters. Investors and market watchers will likely keep a close eye on the expected recovery in the GPL segment and the anticipated ramp-up in the CDMO business in the second half of the fiscal year.

Alivus Life Sciences Limited , formerly known as Glenmark Life Sciences Limited, has reported robust financial results for the second quarter, showcasing significant growth and improved profitability.

Key Financial Highlights

• Revenue Growth: The company registered revenue from operations of ₹5,880.00 crore, marking a substantial 16% year-on-year growth.
• EBITDA Performance: EBITDA stood at ₹1,939.00 crore, up by 35.7% YoY, with margins expanding to 33%, an improvement of 480 basis points from the previous year.
• Profit After Tax (PAT): PAT increased by 36.5% YoY to ₹1,301.00 crore, with margins improving by 330 basis points to 22.1%.

Business Segment Performance

The company's growth was primarily driven by its non-GPL (Glenmark Pharmaceuticals Limited) business, which demonstrated impressive performance:

• Non-GPL Business: Grew by 39.7% YoY, contributing 75.6% to the total revenue.
• GPL Business: Experienced a 23.9% YoY decline due to inventory rationalization at the customer's end, accounting for 24.4% of total revenue.

Market and Therapeutic Mix

• Regulated Markets: Contributed 81% of the revenue.
• Chronic Therapies: Accounted for 69% of the revenue, showing strong growth.

Strategic Initiatives and Outlook

Dr. Yasir Rawjee, MD & CEO of Alivus Life Sciences, commented on the company's performance: "Our performance this quarter was fuelled by strong momentum in the non-GPL business, which delivered an impressive 39.7% YoY growth. Non-GPL business has shown robust performance over the last four quarters, driven by healthy demand across key geographies including ROW, LATAM, Japan, Europe, and India."

The company expects:

1. Stronger performance in the second half.
2. Continued robustness in non-GPL business.
3. Better visibility on GPL business.
4. Continued ramp-up of CDMO projects.

Financial Position and Cash Flow

• Free Cash Flow: Generated ₹1,477.00 crore in H1.
• Cash and Cash Equivalents: Stood at ₹6,526.00 crore as of September 30.

Expansion Plans

Alivus Life Sciences is actively pursuing capacity expansion:

• Solapur Plant: Phase 1 construction for 200 KL capacity is in progress.
• Ankleshwar: Planned addition of ~100 KL capacity.
• Dahej: Planned addition of ~160 KL capacity.

R&D and Product Development

• Total cumulative DMF/CEP filings reached 586 as of September 30.
• The company has 26 APIs in the active grid for high-potency (HP) API portfolio.

Alivus Life Sciences continues to focus on select, high-value, non-commoditized Active Pharmaceutical Ingredients (APIs) in chronic therapeutic areas, positioning itself for sustained growth in the pharmaceutical industry.