Senores Pharmaceuticals Limited has reported robust financial results for the second quarter of fiscal year 2026, with significant growth across key metrics and reaffirmation of its annual guidance.

Financial Highlights

• Consolidated income for Q2 FY26 stood at INR 162.00 crores, reflecting a strong year-over-year growth of 61%.
• EBITDA reached INR 50.00 crores, with margins improving to 31%, up 750 basis points year-over-year.
• Profit after tax (PAT) grew by 131% year-over-year to INR 30.00 crores.

Segment Performance

Regulated Markets

• Revenue from regulated markets grew by 87% year-over-year in Q2 FY26, reaching INR 107.00 crores.
• EBITDA margin in the regulated market stood at 44% for Q2 FY26.

Emerging Markets

• Revenue from emerging markets for the quarter stood at INR 32.00 crores, growing 9% sequentially.
• EBITDA margin in emerging markets was 6.6%, with expectations to reach early double-digits by the end of the fiscal year.

Domestic Branded Generics

• The branded generics business in India showed remarkable growth, with revenue increasing more than tenfold year-over-year to INR 12.00 crores in Q2 FY26.

Operational Highlights

• The company expanded its product portfolio to 81 products, with 8 new launches during the quarter.
• Senores received approvals for 86 new products in emerging markets, bringing the total portfolio to 394 registered products as of September 30, 2025.
• The company is on track to achieve PAN-India coverage for its branded generics segment by the end of FY26.

Cash Flow and Working Capital

• Operating cash flow improved significantly to INR 31.00 crores in H1 FY26, compared to INR 9.00 crores in the previous year.
• The company expects to maintain a working capital cycle of 90 to 100 days.

Future Outlook

• Senores has reaffirmed its guidance of at least 50% top-line growth and 100% PAT growth for FY26.
• The company expects its third manufacturing line at the US facility to be operational in Q3 FY26, expanding capacity from 1.2 billion to 2 billion units.
• Management anticipates a sustainable CAGR of 25-30% over the next 3-5 years, excluding potential contributions from planned sterile facilities.

Strategic Developments

• Senores has acquired a 51% interest in Zoraya Pharmaceuticals LLC, a US-based entity, to further vertically integrate its operations and launch strategic products under its own brand in the US market.
• The company is progressing with its API manufacturing facility, which is projected to receive US FDA approval in Q2 FY27, enhancing backward integration capabilities.

Swapnil Shah, Managing Director of Senores Pharmaceuticals, commented on the results: "We have delivered a healthy performance across segments in Q2 FY26. Our current business is undergoing a structural advancement, which will provide better market visibility and support the growth momentum for us over the medium to long term."

The company's focus on expanding its product portfolio, strategic acquisitions, and market penetration in both regulated and emerging markets appears to be yielding positive results. With ongoing capacity expansions and a robust pipeline of product registrations, Senores Pharmaceuticals is positioning itself for continued growth in the coming years.

Investors and analysts will be watching closely to see if the company can maintain its strong performance and achieve its ambitious growth targets in an increasingly competitive pharmaceutical landscape.

Senores Pharmaceuticals , a global research-driven pharmaceutical company, has announced robust financial results for the second quarter and first half of fiscal year 2026, demonstrating significant growth across key metrics.

Q2 FY26 Highlights

Senores Pharmaceuticals reported impressive year-on-year growth for Q2 FY26:

• Revenue surged by 61% to Rs. 162.00 crores
• EBITDA increased by 113% to Rs. 50.00 crores
• Profit After Tax (PAT) grew by 131% to Rs. 30.00 crores

H1 FY26 Performance

The company's strong performance continued in the first half of FY26:

• Revenue rose by 66% to Rs. 300.00 crores
• EBITDA expanded by 88% to Rs. 84.00 crores
• PAT increased by 114% to Rs. 51.00 crores

Segment-wise Performance

Regulated Markets

• Q2 FY26 revenue stood at Rs. 107.00 crores, up 86.9% year-on-year
• EBITDA margin improved from 36% in Q1 FY26 to 44% in Q2 FY26
• H1 FY26 revenue reached Rs. 197.00 crores, growing 78.4% year-on-year with a 40% EBITDA margin

Emerging Markets

• Q2 & H1 FY26 revenue was Rs. 32.00 crores and Rs. 61.00 crores respectively
• EBITDA margins for Q2 & H1 FY26 were 6.6% and 6.2%

Branded Generics

• Witnessed significant growth, with H1 FY26 revenue increasing more than 7x year-on-year to Rs. 20.00 crores

Operational Highlights

• The company launched eight new products in Regulated Markets during Q2
• Senores currently has 32 own commercial products, 81 approved ANDA products, and 70 pipeline products in Regulated Markets
• In Emerging Markets, the company has 394 approved products and 824 products under registration across more than 40 countries

Financial Position

The company generated Rs. 31.40 crore in operating cash flow for H1 FY26, with Q1 FY26 contributing approximately Rs. 11.00 crore. This represents a significant improvement from Rs. 9.00 crore in H1 FY25, indicating enhanced cash conversion efficiency.

Management Commentary

Swapnil Shah, Managing Director of Senores Pharmaceuticals, commented on the results: "Building on the momentum from previous quarters, we delivered a strong performance in Q2 FY26, with revenues rising 61% and profit after tax growing 131% year-on-year. In the Regulated Markets, we launched eight new products during the quarter, achieving better-than-expected sales."

Shah added, "With additional launches and scale-up of existing products in the coming quarters, we expect this growth momentum in the Own Products business to continue through H2 and FY27. Margins have also strengthened, supported by a higher contribution from own products, improved operating efficiency, and inherent operating leverage."

Future Outlook

The company remains optimistic about its growth trajectory, focusing on four key pillars:

1. Expansion of the ANDA Portfolio in Regulated Markets
2. Steady Scale-up of the CDMO/CMO Segment in Regulated Markets
3. Portfolio Expansion and Profitability Improvement in Emerging Markets
4. Scale-up of Branded Generics business in India

Senores Pharmaceuticals expects to maintain and further improve its performance, with plans to achieve pan-India presence for its Branded Generics business by the end of FY26.

The company's strong Q2 and H1 FY26 results, coupled with its strategic focus on key growth areas, position Senores Pharmaceuticals well for continued success in the global pharmaceutical market.