- Revenue from operations at Rs 2,270Cr, up 13.4% YoY
- EBITDA margins at 19.3% with EBITDA at Rs 439Cr, up 15.2% YoY
- PAT at Rs 251Cr, up 24.7% YoY
- Domestic business sales at Rs 1,031Cr, up 10.6% YoY
- International business sales at Rs 1,238Cr, up 15.8% YoY
PUNE: Emcure Pharmaceuticals (BSE:544210, NSE: EMCURE) today announced its consolidated financial results for the quarter ended September 30th, 2025.
The quarter saw strong performance from both Domestic and International businesses.
Domestic business grew 10.6% led by strong performance across all our key therapies and aided by new initiatives. Domestic business remains a key focus, and we continue to enhance our product portfolio and strengthen the team for the business. We recently announced a strategic partnership with Novo Nordisk to launch Poviztra®, a biological injectable semaglutide, in India. As part of the agreement, Emcure will be the exclusive distributor responsible for the commercialization and promotion of Poviztra. Poviztra® is indicated for chronic weight management and reduction in the risk of major adverse cardiovascular events in individuals with overweight or obesity. During the quarter, we also completed the acquisition of the minority stake in our Zuventus subsidiary.
International business continues to see strong performance and has grown 16%. Europe saw strong growth of 23% led by new launches and aided by the Manx ramp-up. Canada continues to see robust growth and grew 18%. The rest of the World business saw sustained momentum, led by non-ARV business.
Commenting on the results, Satish Mehta, CEO and Managing Director, Emcure Pharmaceuticals Ltd., said, “Q2 saw strong performance across all our businesses. We continue to augment our portfolio in all our focus markets through in-licensing and in-house developments. Novo Nordisk partnership positions us well in the fast-growing obesity segment and gives us an early entry, enabling us to shape the market. We remained focused on delivering strong growth along with margin improvement in all our key businesses.”
Revenue break-up:
| Rs Cr | 2Q26 | 2Q25 | YOY% | 1Q26 | QOQ% |
| Revenue from operations | 2,270 | 2,002 | 13.4% | 2,101 | 8.0% |
| Domestic | 1,031 | 933 | 10.6% | 995 | 3.6% |
| International | 1,238 | 1,069 | 15.8% | 1,106 | 12.0% |
| EM | 446 | 411 | 8.6% | 360 | 23.9% |
| EU | 444 | 362 | 22.7% | 403 | 10.2% |
| CA | 348 | 296 | 17.5% | 342 | 1.5% |
Contd.
Performance Summary (Consolidated)
| Rs Cr | 2Q26 | 2Q25 | YOY% | 1Q26 | QOQ% |
| Revenue from operations | 2,270 | 2,002 | 13.38% | 2,101 | 8.06% |
| Material Cost | 889 | 789 | 12.79% | 802 | 10.91% |
| Gross Profit | 1,381 | 1,213 | 13.76% | 1,299 | 6.30% |
| Gross Profit Margins | 60.82% | 60.61% | 61.82% | ||
| Employee Costs | 385 | 356 | 8.16% | 393 | -2.25% |
| Other expenses | 557 | 477 | 16.71% | 501 | 11.05% |
| EBITDA | 439 | 381 | 15.24% | 404 | 8.67% |
| EBITDA Margins | 19.34% | 19.02% | 19.23% | ||
| Other Income | 3 | 36 | 4 | ||
| Depreciation and Amortisation | 105 | 97 | 99 | ||
| Finance Costs inc. Forex | -4 | 46 | 27 | ||
| Exceptional Items | 0 | 0 | 4 | ||
| Profit Before Tax (PBT) | 341 | 273 | 24.87% | 291 | 17.42% |
| Tax | 90 | 72 | 76 | ||
| Profit After Tax (PAT) | 251 | 202 | 24.72% | 215 | 17.03% |
| PAT Margins | 11.07% | 10.07% | 10.23% |