Sanjivani Paranteral Limited delivered a robust financial performance for the third quarter ended December 31, 2025, demonstrating strong growth across key metrics. The Mumbai-headquartered pharmaceutical company, which operates manufacturing facilities in Navi Mumbai and Dehradun, reported significant improvements in both standalone and consolidated results.

Standalone Financial Performance

The company's standalone operations showed impressive momentum in Q3FY26, with revenue from operations reaching Rs. 208.63 mn, marking a substantial 20.25% year-over-year growth. Profitability metrics demonstrated even stronger performance, with profit after tax climbing 37.8% YoY to Rs. 26.16 mn.

Segment-wise Revenue Analysis

The company's product portfolio showed mixed performance across different segments during Q3FY26. The oral segment emerged as the standout performer, while injectables faced some headwinds.

The oral segment's exceptional 153.5% YoY growth to Rs. 86.4 mn highlighted the company's successful diversification strategy, while the injectables segment experienced a 9.7% decline to Rs. 116.7 mn.

Consolidated Results and Strategic Integration

The consolidated financial results reflected the positive impact of the newly integrated SPL Infusion Pvt. Ltd., Pune facility. Consolidated revenue from operations grew 27.17% YoY to Rs. 220.6 mn, with profit after tax increasing 46.2% YoY to Rs. 27.76 mn. The EBITDA margin for consolidated operations stood at 18.74%.

Nine-Month Performance Overview

For the nine months ended December 31, 2025, standalone revenue from operations grew 4.5% YoY to Rs. 542.5 mn, with PAT increasing 1.3% YoY to Rs. 59.8 mn. The consolidated nine-month revenue grew 6.81% YoY to Rs. 554.5 mn, with PAT rising 4.01% YoY to Rs. 61.45 mn.

Geographic Revenue Distribution

Exports continued to be the primary revenue driver, constituting 76.9% of total revenue during Q3FY26. The company's core markets in CIS (including Russia), Middle East & Africa, and Latin America accounted for Rs. 160.4 mn, representing 76.9% of total revenues. This strong export performance underscores the company's established international presence and market penetration.

Management Commentary

Chairman & Managing Director Ashwani Khemka highlighted the quarter's achievements, emphasizing the successful integration of the Pune facility and its contribution to consolidated revenues. He noted that the company's expanded manufacturing capabilities, widening geographic reach, and strengthening product pipeline position it well for future growth, supported by strategic investments made earlier.

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.