Concord Biotech Limited announced the release of the transcript for their Q3 and Nine Months FY26 Earnings Call, which was held on February 12, 2026. The call featured management including Mr. Ankur Vaid (Joint Managing Director and CEO) and Mr. Raviraj Karia (Chief Financial Officer). During the call, the management reported revenues of ₹278 crores for Q3 FY26, marking a 14% year-on-year growth. However, for the nine-month period, revenues saw a 5% decline, attributed to global trade uncertainties, delays in CDSCO confirmations, and deferred tender-based supplies in the Middle East. The company highlighted that these headwinds were largely timing-related. Clarifications on tariffs not applying to generic products have led to recovering order momentum and increased engagement on supply opportunities. The CDSCO confirmation received in November has resumed supplies, albeit with a gradual ramp-up. The company also noted the positive impact of the India-EU free trade agreement and the Union Budget's supportive initiatives like the Biopharma SHAKTI program. A 14% year-on-year growth in API revenues to ₹219 crores was reported for Q3 FY26, while formulation revenues stood at ₹58 crores. The injectable facility received WHO GMP certification, with a peak revenue potential of approximately ₹600 crores. Profitability for the nine-month period was impacted by start-up costs for the injectable facility and the U.S. subsidiary. Excluding these, EBITDA margins remained around 40%. The company expressed optimism for Q4 FY26 and anticipates FY27 onwards to reflect a normalization and regaining of historical growth momentum. Mr. Raviraj Karia, the newly appointed CFO, expressed his commitment to strengthening financial discipline and transparency. He detailed that Q3 FY26 revenues grew 14% to ₹278 crores, while the nine-month period saw a 5% degrowth to ₹729 crores. EBITDA for the quarter was ₹99 crores, with an impacted margin of 35.6% due to new facility and subsidiary costs; excluding these, the margin was 40%. Profit after tax for the quarter was ₹64 crores, compared to ₹76 crores in the prior year, impacted by labor costs and a higher other income in the previous year's quarter.
