Mumbai: Morepen Laboratories Limited reported higher earnings in Q4 FY26, supported by export growth and expansion in its Medical Devices business. The company’s gross revenue rose 22 percent year-on-year to Rupees 472 crore, while net profit increased 69 percent to Rupees 20 crore during the quarter. The company also said operational momentum improved toward the latter part of FY26 as it began commercial production under a long-duration manufacturing partnership program.
Sequential And Annual Growth
The company said Q4 FY26 marked the commencement of commercial production linked to its multi-year Rupees 825 crore global CDMO mandate received earlier this year. Validation batches have been completed, and phased deliveries are expected to begin shortly. EBITDA stood at Rupees 32 crore in Q4 FY26 compared to Rupees 33 crore in Q4 FY25, reflecting continued investments in manufacturing scale-up, regulated-market programs, and medical devices expansion. The board has also proposed a dividend of 10 percent for FY26.
What Drove The Numbers
Revenue growth during the quarter was supported by export momentum and strong performance in medical devices. The API business grew 17 percent in Q4 FY26, while the Medical Devices segment expanded 31 percent. The company also completed its fourth consecutive USFDA inspection with nil observations. Morepen said manufacturing capacity expansion is underway from nearly 500 KL toward 800 KL as part of its long-term growth plan. The company also completed a bioequivalence study for Resmetirom 100 mg for regulated markets outside the US.
Full-Year Performance
For FY26, standalone gross revenue crossed Rupees 1,700 crore, rising 8 percent from the previous year. The Medical Devices business reported 21 percent annual revenue growth to Rupees 598 crore and reached an installed base of nearly 17 million repeat users. Morepen said investments across manufacturing expansion, device growth, and customer acquisition affected near-term profitability but are expected to support operating leverage and margin expansion over the long term.
Disclaimer: This report is based on unaudited financial results filed by the company and does not constitute investment advice.
