Sanjivani Paranteral Limited has released the official transcript of its Q3FY26 earnings call held on February 16, 2026, providing detailed insights into the company's strong financial performance and future growth strategy. The Mumbai-headquartered pharmaceutical company disclosed the transcript under Regulation 46 of the SEBI Listing Regulations.

Earnings Call Disclosure and Compliance

The company informed BSE Limited on February 18, 2026, about the availability of the earnings call transcript on its website. Company Secretary Cum Compliance Officer Ravikumar Bogam signed the disclosure, emphasizing regulatory compliance under SEBI guidelines.

Strong Q3FY26 Financial Performance

The earnings call revealed impressive standalone financial results for Q3FY26. Revenue from operations reached Rs. 20.9 crores, marking a substantial 20.2% year-over-year growth. The company achieved significant margin expansion with EBITDA growing 36% year-on-year to Rs. 3.9 crores.

Segment-wise Business Performance

The company's diversified portfolio showed mixed performance across segments. Injectable revenues declined 9.7% year-on-year to Rs. 11.7 crores, while oral revenues surged 153.3% to Rs. 8.6 crores. The nutraceutical segment contributed Rs. 0.56 crores during the quarter.

SPL Infusion Integration Success

A key milestone was achieved with SPL Infusion Private Limited contributing Rs. 1.2 crores to consolidated revenues for the first time. The Pune facility is currently operating at 20-25% capacity utilization and is expected to reach 40-50% utilization by FY27.

Management Guidance and Growth Strategy

During the earnings call, management provided ambitious growth targets for the coming years. The base business is projected to reach Rs. 90 crores by FY27, while SPL Infusion is expected to contribute Rs. 60-65 crores. For FY26, the company targets Rs. 72-75 crores from core operations.

Executive Director Srivardhan Khemka highlighted the company's transition from a single-engine business to a multi-vertical growth platform, with injectables remaining the primary growth driver. The company plans to expand its product portfolio to 23-24 products at the Pune facility, compared to competitors' 12-14 products.

Regulatory Compliance and Future Outlook

Management announced that all company plants are compliant with the revised Schedule M by the FDA, positioning them among only 20-30% of plants in India meeting these stringent requirements. A WHO inspection for the Pune plant is scheduled for March 2026, which will enable regulatory approvals in various export markets.

The company maintains a cautious but optimistic outlook, expecting accelerated growth from Q2-Q3 of FY27 as new product approvals and market registrations materialize across key export territories in Africa and other emerging markets.

Sanjivani Parenteral Limited , a WHO-GMP certified pharmaceutical company specializing in injectables and oral solids, reported a 14.5% year-on-year decline in revenue for Q2 FY26. The company's revenue stood at INR 15.50 crores, down from INR 18.10 crores in the same quarter last year.

Key Highlights

• Revenue decline primarily attributed to external disruptions in key export markets
• Local unrest in Nepal affected orders worth INR 1.00 crore
• Tighter FDA scrutiny in Latin America slowed clearances and dispatches
• EBITDA at INR 2.40 crores, down 25.6% year-on-year
• EBITDA margin contracted to 15.5% from 17.9% in Q2 FY25
• Profit after tax at INR 1.60 crores, down 28.5% year-on-year

Segment-wise Performance

Exports constituted 81.6% of the total revenue, with core markets of CIS, Middle East and Africa, and Latin America accounting for INR 12.60 crores.

Future Outlook

Despite the setback in Q2, Sanjivani Parenteral remains optimistic about its future prospects:

1. SPL Infusion Venture: The company expects to start booking revenue from its SPL Infusion venture in Q3 FY26.
2. Full-Year Projection: Management projects a minimum 10% growth for the full year FY26.
3. FY27 Target: The company is targeting INR 150.00 crores revenue next year, including contributions from the new IV plant.
4. Diversification Strategy: Sanjivani is diversifying its product portfolio, customer profile, and geographical presence to mitigate risks.
5. Alevia Healthcare: The company's nutraceutical venture in Europe is expected to contribute INR 1.00-1.50 crores to the bottom line in FY26, with projections of INR 3.00-3.50 crores for FY27.

Sanjivani Parenteral's Chairman and Managing Director, Mr. Ashwani Khemka, emphasized the company's focus on quality and regulatory compliance. He stated, "Our company is on track, and we'll do continuous upgradation in our facilities and capex and training of the people. We face audits very frequently. For the last 10 years, we have not had a single failure or a single market complaint in the world."

The company remains cautiously optimistic about its growth prospects, leveraging its diverse product portfolio, efficient supply chain management, and flexible approach to market requirements.