Anthem Biosciences Limited has released its earnings presentation for the quarter and nine months ended December 31, 2025. The company reported consolidated revenue from operations of ₹4,232 million (₹423.2 crore) for the third quarter of fiscal year 2026, a decrease of 15.0% year-on-year from ₹4,978 million (₹497.8 crore) in Q3FY25, but an increase from ₹5,500 million (₹550 crore) in Q2FY26, showing a 23.1% sequential decline. The CRDMO business contributed ₹3,332 million (₹333.2 crore) to the revenue, while the Specialty Ingredients segment reported ₹899 million (₹89.9 crore). EBITDA for the quarter stood at ₹1,907 million (₹190.7 crore), with EBITDA margins at a strong 41.8%. Profit After Tax (PAT) for Q3FY26 was ₹928 million (₹92.8 crore), resulting in PAT margins of 20.3%. For the nine months ended December 31, 2025, consolidated revenue from operations reached ₹15,134 million (₹1,513.4 crore), an increase of 11.2% compared to ₹13,614 million (₹1,361.4 crore) in the same period last fiscal. The CRDMO segment reported ₹12,599 million (₹1,259.9 crore) and Specialty Ingredients ₹2,535 million (₹253.5 crore). EBITDA for the nine months was ₹6,712 million (₹671.2 crore), with margins at 41.5%. PAT for the nine-month period was ₹4,020 million (₹402 crore), with PAT margins of 24.8%. An exceptional item of ₹254 million (₹25.4 crore) was recognized in the consolidated financials, primarily due to changes in wage definition and gratuity provisions following the Government of India's notification of four new Labour Codes on November 21, 2025. The company is monitoring the finalization of Central/State Rules and will provide appropriate accounting effects as needed. The company highlighted a robust return profile, with Q3FY26 ROE at 20.4% and ROCE at 30.0%. The net cash position as of December 31, 2025, was ₹12,312 million (₹1,231.2 crore). AJAY BHARDWAJ, Chairman, MD & CEO, commented, "Our 9MFY26 performance has shown steady progress in revenue terms and with improving margin profile our EBITDA has grown at 23% and PBT before exceptional items has grown around 20%. Our quarterly revenue performance was influenced by the higher base of the same quarter last year, although the margin improvement neutralized the revenue shortfall. The underlying demand remains robust, with our historically strongest quarter still ahead, we are confident of delivering a strong finish to the financial year."
