Q4FY26: Revenues up 16% YoY, EBITDA up 20% YoY, EBITDA margin up 110 bps YoY

Ahmedabad, India

  • The audited results were taken on record by the Board of Directors at a meeting held today. The Board recommended a dividend of 100% for FY2025-26.
  • The Board approved buyback of equity shares for an aggregate amount upto Rs. 11,000 mn, at a price of Rs. 1,150 per share (16% premium to closing price of 18th May 2026).

Consolidated Financial Results

Rs. mnQ4 Q4 % Gr.Q3 % Gr.
FY26FY25YoYFY26QoQ
Revenue from Operations75,87065,27916.20%68,64510.50%
EBITDA25,54421,25520.20%18,16440.60%
EBITDA margin (%)33.70%32.60% 26.50% 
PBT120,57218,9168.80%14,38343.00%
Net Profit115,92913,90514.60%11,10543.40%
Rs. mnFY26FY25% Gr.
YoY
Revenue from Operations2,71,4842,32,41516.80%
EBITDA84,75170,58520.10%
EBITDA margin (%)31.20%30.40% 
PBT271,37762,46314.30%
Net Profit254,56447,45115.00%
  1. Adjusted for exceptional expense of (a) Rs. 3,975 mn in Q4 FY26, being one-time spend towards Mirabegron litigation settlement, (b) Rs. 2,196 mn in Q4 FY25, being impairment charge on Goodwill & Technical Know-how and (c) Rs. 849 mn in Q3 FY26, being one time impact of increase in gratuity & leave encashment liability pursuant to new labour code enacted by the government.
  2. Adjusted for exceptional expense of (a) Rs. 5,166 mn in FY26 comprising of Rs. 3975 mn, being one-time spend towards Mirabegron litigation settlement, Rs. 849 mn, being one time impact of increase in gratuity & leave encashment liability pursuant to new labour code enacted by the government and Rs. 342 mn, being acquisition related cost and (b) Rs. 2,196 mn in FY25, being impairment charge on Goodwill & Technical Know-how.

Key Financial Highlights

Q4 FY26 Highlights

  • Revenue from operations at Rs. 75,870 mn, up 16% over last year.
  • R&D investments for the quarter stood at Rs. 6,982 mn (9.2% of revenues).
  • EBITDA was Rs. 25,544 mn, up 20% y-o-y. EBITDA margin for the quarter stood at 33.7%, which is an improvement of 110 bps on a y-o-y basis.
  • Net Profit (Adjusted) for the quarter was Rs. 15,929 mn, up 15% y-o-y.
  • Capex (organic) for the quarter was Rs. 3,577 mn.

Full Year FY26 Highlights

  • Revenue from operations at Rs. 2,71,484 mn, up 17% over last year.
  • R&D investments stood at Rs. 22,732 mn (8.4% of revenues).
  • EBITDA was Rs. 84,751 mn, up 20% y-o-y. EBITDA margin stood at 31.2%, which is an improvement of 80 bps over the previous year.
  • Net Profit (Adjusted) was Rs. 54,564 mn, up 15% y-o-y.
  • Capex (organic) for the full year was Rs. 17,145 mn.
  • Net Debt to Equity ratio as on 31st March 2026 was 0.16x while Net Debt to EBITDA stood at 0.50x at the end of March 2026.

Q4 FY26 Business-wise Revenue Performance (Consolidated)

We closed FY26 on a strong note, delivering on our commitments — both on revenue growth and profitability. We are confident our pipeline will drive overall growth visibility while future growth engines begin to deliver. Our near-term priorities are clear: maintain consistent quality standards, integrate our recent acquisitions, and capture synergies swiftly. Finally, our strong balance sheet ensures we have the flexibility to invest and strengthen our businesses further.

Dr. Sharvil Patel, Managing Director – Zydus Lifesciences Limited