Panacea Biotec Limited has published its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, demonstrating contrasting performance across its business segments. The pharmaceutical company's results were approved by the Board of Directors on February 11, 2026, and published in compliance with SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Quarterly Financial Performance

The company's Q3 FY26 results revealed significant differences between standalone and consolidated operations. On a standalone basis, Panacea Biotec faced operational challenges, while its consolidated performance showed resilience.

Nine Months Performance Analysis

For the nine months ended December 31, 2025, the performance gap between standalone and consolidated operations remained evident. The consolidated business demonstrated better operational efficiency and profitability metrics.

Year-over-Year Comparison

Comparing with the corresponding periods of the previous year, the company showed mixed trends across different operational parameters:

Standalone Operations:

• Q3 FY26 revenue of ₹9,931 lakh compared to Q3 FY25 revenue of ₹10,843 lakh
• Nine months FY26 revenue of ₹30,237 lakh versus nine months FY25 revenue of ₹24,195 lakh

Consolidated Operations:

• Q3 FY26 revenue of ₹16,519 lakh compared to Q3 FY25 revenue of ₹16,349 lakh
• Nine months FY26 revenue of ₹47,302 lakh versus nine months FY25 revenue of ₹42,656 lakh

Corporate Governance and Compliance

The financial results underwent proper review procedures as mandated by regulatory requirements. The Audit Committee reviewed the results, and the Board of Directors approved them during their meeting held on February 11, 2026. The company's statutory auditors also reviewed the quarterly results.

The results were published in Business Standard (English) and Desh Sewak (Punjabi) newspapers on February 12, 2026, ensuring compliance with Regulation 47 of SEBI regulations. The detailed financial results are available on stock exchange websites NSE ( www.nseindia.com ) and BSE ( www.bseindia.com ), as well as on the company's official website.

Financial Structure

The company maintained consistent equity share capital of ₹613 lakh with a face value of ₹1 per share across all reporting periods. The financial results were prepared in accordance with Indian Accounting Standards (Ind-AS) as prescribed under Section 133 of the Companies Act, 2013.

Panacea Biotec Limited has disclosed significant regulatory developments following an inspection by the National Centre for Public Health and Pharmacy, Hungary (NCPHP) at its subsidiary's Baddi manufacturing facility. The company made this disclosure under Regulation 30 of SEBI listing requirements on February 05, 2026.

NCPHP Inspection and Timeline

The NCPHP conducted an inspection of Panacea Biotec Pharma Limited's (PBPL) Baddi facility in Himachal Pradesh from January 26, 2026 to January 31, 2026. Following the inspection, NCPHP issued a "Statement of non-compliance with Good Manufacturing Practice" dated February 03, 2026, which was received by PBPL on February 04, 2026.

GMP Certificate Revocation and Product Supply Impact

NCPHP determined that the Baddi facility does not comply with GMP requirements as outlined in Directive (EU) 2017/1572, resulting in the revocation of all valid GMP certificates issued by NCPHP. The regulatory authority has proposed halting supplies of non-vital products, with an exception for patients currently on treatment with oncology products.

Importantly, the company clarified that PBPL is not supplying any oncology-related products in European Union markets. NCPHP officials did not observe any behavior or manufacturing processes that would pose risks to the quality of products already released.

Limited Financial Exposure to EU Markets

The regulatory action's financial impact appears contained given Panacea Biotec's limited European exposure. During FY 2024-25, PBPL's revenue from European Union markets contributed around 0.32% of the total consolidated net revenues of Panacea Biotec Limited.

Corrective Measures and Re-inspection Plans

Panacea Biotec has committed to maintaining the highest standards of quality and compliance. The company is implementing comprehensive corrective and preventive actions (CAPA) and plans to request a re-inspection at the earliest opportunity to restore the GMP certificates. The company is conducting ongoing risk-benefit assessments in coordination with relevant regulatory agencies, particularly considering that their EU export products are vital for patients undergoing long-term immunosuppression or anti-viral therapy.