Aurobindo Pharma Limited
Aurobindo Pharma is principally engaged in manufacturing and marketing of active pharmaceutical ingredients, generic pharmaceuticals and related services. Leading Pharmaceutical Company. The company is India’s 2nd-largest listed pharma company based on revenue & the largest generics company in the US. It is ranked among the top 10 generic companies in 8 European countries.
Business Segments
A) Formulations (87% in Q3 FY25 vs 84% in FY23): The company manufactures medications in various dosage forms, including oral solids, liquids, and injectables, targeting key therapeutic areas like CNS, Anti-Retroviral, CVS, Antibiotics, Gastroenterological, Anti-Diabetics, and Anti-Allergic.
B) API (13% in Q3 FY25 vs 16% in FY23): The company produces APIs across multiple therapeutic areas and is one of the few operating in both beta-lactams and non-beta-lactams. Within beta-lactams, it offers sterile and non-sterile Penicillin, Cephalosporins, and Penems.
Revenue Mix:
USA: 53% in Q3 FY25 vs 55% in FY23
Europe: 30% in Q3 FY25 vs 31% in FY23
Growth Markets: 13% in Q3 FY25 vs 9% in FY23
ARV: 4% in Q3 FY25 vs 5% in FY23
Shareholding Pattern (March 2026)
Financial Summary
| Particular | Mar-22 | Mar-23 | Mar-24 | Mar-25 | Mar-26 |
| Sales – | 23,455 | 24,855 | 29,002 | 31,724 | 33,653 |
| Sales Growth % | -5.32% | 5.97% | 16.68% | 9.39% | 6.08% |
| Expenses + | 19,060 | 21,148 | 23,176 | 25,173 | 26,807 |
| Operating Profit | 4,396 | 3,707 | 5,826 | 6,551 | 6,846 |
| OPM % | 19% | 15% | 20% | 21% | 20% |
| Net Profit + | 2,647 | 1,928 | 3,169 | 3,484 | 3,503 |
| EPS in Rs | 45.2 | 32.9 | 54.15 | 60.02 | 60.34 |
| Dividend Payout % | 20% | 23% | 8% | 0% | 7% |
Synopsis of Financials
- FY26: Revenue ₹33,653 cr, EBITDA ₹6,856 cr (20.4%); management called this the “highest-ever revenues and highest-ever EBITDA, both quarterly and annually.”
- Q4 FY26: Revenue ₹8,853 cr, EBITDA ₹1,801 cr (20.3%); PAT ₹921 cr (+2% YoY).
- Gross contribution: ₹20,165 cr (~60%) for FY26 (about +100 bps); Q4 gross margin 61.3% (+153 bps QoQ).
Final Outlook
Summary:
Aurobindo Pharma has delivered strong financial performance with record revenue and EBITDA in FY26. The company continues to benefit from its leadership position in the global generics market, particularly in the United States and Europe. Strong product diversification, improving margins, and consistent earnings growth have strengthened its financial position. The company is also investing heavily in R&D, manufacturing expansion, and specialty products, which can support future growth. While regulatory risks and pricing pressure remain common challenges in the pharmaceutical industry, Aurobindo’s scale, product portfolio, and global presence position it well for long-term growth.
Recent Performance (FY26 – Easy View)
- FY26 Revenue reached a record ₹33,653 Cr.
- EBITDA stood at ₹6,856 Cr, the highest in the company’s history.
- Q4 FY26 Revenue: ₹8,853 Cr (+5.6% YoY).
- Q4 FY26 PAT: ₹921 Cr (+2% YoY).
- Gross margins improved to 61.3% in Q4.
- Management expects EBITDA margins to improve further and move above 21% in FY27.
Aurobindo Pharma is a financially strong pharmaceutical company with improving profitability, healthy margins, and a dominant position in the global generics market. The company’s record FY26 performance, strong cash generation, expanding product portfolio, and positive FY27 margin outlook provide confidence in its future growth prospects.
