IOL Chemicals & Pharmaceuticals has received regulatory approval from the European Directorate for the Quality of Medicines & HealthCare (EDQM) for its Clopidogrel Besilate Active Pharmaceutical Ingredient (API). The company announced this development through an official filing with stock exchanges on February 24, 2026, under Regulation 30 of SEBI listing requirements.

Regulatory Certification Details

The EDQM granted the Certificate of Suitability (CEP) for IOL Chemicals' Clopidogrel Besilate API on February 23, 2026. This approval adds to the company's existing regulatory credentials, as it already holds a valid CEP for Clopidogrel Bisulphate.

Strategic Significance

The Certificate of Suitability from EDQM is a crucial regulatory document that demonstrates compliance with European Pharmacopoeia standards. This certification enables pharmaceutical companies to market their APIs across European Union member states, providing significant market access opportunities.

Clopidogrel is an antiplatelet medication used in the treatment and prevention of cardiovascular diseases, making it a critical component in the pharmaceutical supply chain.

Product Portfolio Enhancement

With certifications for both Clopidogrel Besilate and Clopidogrel Bisulphate APIs, IOL Chemicals has strengthened its position in the cardiovascular medication segment. The dual CEP certifications position the company to serve European pharmaceutical manufacturers requiring these critical APIs for their formulation needs.

The announcement was signed by Abhay Raj Singh, Sr. Vice President & Company Secretary, confirming the company's compliance with regulatory disclosure requirements and its commitment to maintaining transparency with stakeholders.

IOL Chemicals and Pharmaceuticals Limited held its earnings conference call on February 12, 2026, following the submission of Q3 and nine-month FY26 financial results to stock exchanges. The call was moderated by MUFG Investor Relations and featured key management personnel including CFO Pardeep Kumar Khanna, Senior VP Abhay Raj Singh, Director Works Kushal Kumar Rana, and Advisor Rakesh Mahajan.

Q3 FY26 Financial Performance

The company reported strong operational performance for the third quarter. Revenue from operations reached ₹580.40 crore, representing 10.90% year-on-year growth from ₹523.30 crore in Q3 FY25. EBITDA improved significantly to ₹62.60 crore with a margin of 10.70%, marking 22.80% year-on-year growth from ₹50.90 crore.

Nine-Month FY26 Consolidated Results

For the nine-month period ended December 2025, the company demonstrated robust growth across key financial metrics. Revenue from operations grew 9.60% to ₹1,699.60 crore from ₹1,551.40 crore in the previous year. EBITDA surged 24.80% to ₹196.10 crore from ₹157.10 crore, with an improved margin of 11.40% compared to 10.00% in the previous year.

Segment-wise Performance Analysis

The pharmaceuticals segment continued its strong performance with revenue of ₹356.10 crore in Q3 FY26, representing 61% of total revenue. The chemicals segment contributed ₹224.30 crore, accounting for 39% of total revenue. Within the pharmaceutical segment, ibuprofen contributed ₹228.00 crore while non-ibuprofen products generated ₹128.00 crore, with non-ibuprofen now representing 36% of pharmaceutical revenue compared to 34% in the previous year.

Capacity Utilization and Operational Highlights

Management reported strong capacity utilization across business segments. The ibuprofen plant operates at 90-95% capacity utilization, while the ethyl acetate plant runs at nearly 100% capacity. For pharmaceuticals, the company utilizes over 90% capacity except for paracetamol, where capacity expansion is ongoing. The company's paracetamol capacity has been expanded to 10,800 MTPA through the new Unit 11.

Strategic Developments and Future Outlook

The company declared an interim dividend of 50% per equity share for FY26, reflecting confidence in performance and outlook. Management highlighted the strategic shift towards high-value APIs, with non-ibuprofen products contributing 34% of pharmaceutical segment revenue. The company recently received CEP certification for minoxidil and expects to commence commercial production in Q1 FY27.

For FY27, management expects minimum 10-15% growth in top line and 15-20% growth in bottom line, with planned capex of ₹150-200 crore. The company targets achieving ₹2,700 crore total revenue by FY27, with ₹1,800 crore from API business and ₹900 crore from chemicals business.