Biocon Reports 342% Surge in Q1FY26 Net Profit to Rs 31 Crore

Biocon has announced a remarkable net profit of Rs 31 crore for the first quarter of fiscal year 2026 (Q1FY26), reflecting a significant year-on-year increase of 342% on a like-for-like basis. This surge is attributed to robust growth in the company’s biosimilars segment and enhanced operating efficiency across various divisions.

The company’s operating revenue grew by 15% compared to the previous year, reaching Rs 3,942 crore. The earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 19% to Rs 829 crore, while core EBITDA stood at Rs 1,003 crore, with profit margins at 25%. Biocon also invested Rs 205 crore in research and development, accounting for 7% of its revenue, excluding its subsidiary Syngene.

Kiran Mazumdar-Shaw, Chairperson of Biocon Group, stated, “Our biosimilars and CRDMO businesses continued to deliver strong momentum, while generics held steady.” She highlighted the positive impact of a recent Qualified Institutions Placement (QIP), through which the company raised Rs 4,500 crore in June, aimed at consolidating its stake in Biocon Biologics and facilitating investor exits.

Business Growth and Product Launches

The biosimilars segment, which constitutes 61% of Biocon’s total revenue, experienced an 18% year-on-year growth, generating Rs 2,458 crore. The EBITDA for this segment increased by 36% to Rs 645 crore, with margins reported at 26%. Recent product launches include Yesafili in Canada and the USFDA approval for Kirsty, Biocon’s second interchangeable biosimilar insulin.

In the generics sector, revenue grew by 6% year-on-year, reaching Rs 697 crore. This growth was driven by new launches such as Liraglutide in the European Union and Dasatinib in the United States. Additionally, revenue from the CRDMO (Contract Research and Development Manufacturing Organization) segment, which includes Syngene, rose by 11% to Rs 875 crore, with EBITDA increasing by 19% to Rs 224 crore. This growth was supported by long-term contract conversions and expanded scientific capabilities.

Future Prospects and Market Expansion

Biocon is poised for further growth with the commissioning of a new injectable facility focused on GLP-1 in Bangalore, expected to commence commercialization in fiscal year 2027. With 19 global product launches and 12 biosimilars already commercialized, the company is actively expanding its market presence in both advanced and emerging markets.

Shreehas Tambe, CEO of Biocon Biologics, expressed confidence in the company’s trajectory, stating, “We are confident in our ability to scale, deepen market presence, and deliver sustained growth.” As Biocon continues to navigate the competitive landscape of the biopharmaceutical industry, its strategic initiatives and focus on innovation position it well for future success.