Alivus Life Sciences Reports Strong Q2 Growth, Driven by Non-GPL Business

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:

Stronger performance in the second half.
Continued robustness in non-GPL business.
Better visibility on GPL business.
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.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.49%	-1.92%	-4.59%	-19.85%	-18.90%	+18.97%

Alivus Life Sciences Limited , a leading developer and manufacturer of high-value Active Pharmaceutical Ingredients (APIs), has announced strong financial results for the second quarter of fiscal year 2026, demonstrating significant growth and improved profitability.

Key Financial Highlights

Metric	Q2 FY26	Q2 FY25	YoY Change
Revenue	₹5,880.00 Mn	₹5,069.00 Mn	16.0%
EBITDA	₹1,939.00 Mn	₹1,429.00 Mn	35.7%
EBITDA Margin	33.0%	28.2%	480 bps
PAT	₹1,301.00 Mn	₹953.00 Mn	36.5%
PAT Margin	22.1%	18.8%	330 bps

Revenue Growth and Market Expansion

Alivus Life Sciences reported a robust revenue growth of 16% year-over-year for Q2 FY26, with revenue from operations reaching ₹5,880.00 million. This growth was primarily driven by strong momentum in the non-GPL (Glenmark Pharmaceuticals Limited) business, which delivered an impressive 39.7% YoY growth.

The company's performance was bolstered by healthy demand across key geographies, including Rest of World (ROW), Latin America, Japan, Europe, and India. These markets contributed significantly to the overall performance, showcasing Alivus's successful market expansion strategy.

Profitability Improvement

Alivus demonstrated substantial improvement in its profitability metrics:

EBITDA grew by 35.7% YoY to ₹1,939.00 million
EBITDA margin expanded by 480 basis points to 33.0%
Profit After Tax (PAT) increased by 36.5% YoY to ₹1,301.00 million
PAT margin improved by 330 basis points to 22.1%

The company maintained its margins above the guided ranges, even without the benefits of the Production Linked Incentive (PLI) scheme, reflecting the robustness of its operations.

Operational Highlights and Future Outlook

Dr. Yasir Rawjee, MD & CEO of Alivus Life Sciences, expressed confidence in delivering stronger performance in the second half of the fiscal year. This optimism is supported by:

Continued robustness in the non-GPL business
Better visibility on the GPL business
Ongoing ramp-up of CDMO (Contract Development and Manufacturing Organization) projects

The company remains confident in maintaining margins around 30%, supported by a robust pipeline of new launches and operational efficiencies.

Financial Position

Alivus Life Sciences maintains a strong financial position:

Generated strong cash flow from operations of ₹148.00 crores in Q2 FY26
Cash and cash equivalents of ₹653.00 crores as of September 30, 2025
Debt-free balance sheet

The company's solid financial standing provides ample support for its ongoing growth plans.

Conclusion

Alivus Life Sciences' Q2 FY26 results demonstrate the company's ability to drive growth and improve profitability in the competitive API market. With its focus on high-value, non-commoditized APIs and expanding CDMO services, Alivus is well-positioned to capitalize on opportunities in the global pharmaceutical industry.

Investors and stakeholders can look forward to the company's continued performance in the second half of the fiscal year, supported by its strong product pipeline, operational efficiencies, and robust financial position.