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RPG Life Sciences revenues grew ~16% YoY to ~₹196 crore

ICICIdirect Research 29 Jul 2026 DISCLAIMER

News: RPG Life Sciences revenues grew ~16% YoY to ~₹196 crore, driven by Domestic Formulation Business, which grew 15% YoY to ₹132.5 crore, and API Business, which grew 36% YoY to ₹26.6 crore. International Formulation businesses also grew 8% YoY to ₹ 35 crore. On the operational front, EBITDA grew 22% YoY to ~₹ 43.3 crore with margins at 22.1% (up 112 bps YoY). PAT during the quarter was at ~₹31 crore.

View: Performance for the quarter was better than our expectations. Domestic formulations growth was driven by strong portfolio performance across key therapy and new launches in specialty & chronic segments while API maintained its tempo despite fire incident in one of its API manufacturing block. Going forward, improving salesforce productivity in the domestic market, coupled with increasing contribution from new launches—particularly in specialty and chronic segments — should support continued traction in domestic formulations. Additionally, the expected ramp-up in the API business over the coming quarters is likely to aid margin expansion at the overall business level.

Impact: Positive

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