Viyash Scientific Ltd Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 4 Aug 2026 | Pharmaceuticals & Biotechnology | Market Cap: ₹11.2K Cr
The company targets maintaining a revenue mix of approximately 55% formulation and 45% API/CDMO, with both segments expected to show similar growth, supported by CDMO compensating slower growth in regular APIs. The company targets a 15%-20% CAGR growth in EBITDA over the next 3-5 years, with occasional spikes due to acquisitions.
From Viyash Scientific Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹276
Market Cap
₹11.2K Cr
P/E Ratio
50.8
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Viyash Scientific Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹920 Cr, net profit ₹66 Cr.
Full financials →📊 Revenue & Sales Performance
- →The company targets maintaining a revenue mix of approximately 55% formulation and 45% API/CDMO, with both segments expected to show similar growth, supported by CDMO compensating slower growth in regular APIs.
- →Over the next 3-5 years, the Animal Health formulation business is expected to grow significantly, particularly in the companion animal segment driven by increasing pet ownership and genericization.
- →CDMO business is projected to grow substantially, particularly after 2-3 years, once commercial supply of lifecycle management products ramps up.
- →Animal Health APIs are anticipated to grow very fast starting next year, backed by infrastructure and process improvements.
- →The merged entity aims to achieve INR 4,000 crore revenue with consistent ~20% EBITDA margins by FY'27, leveraging organic growth, synergies, and potential acquisitions.
- →Emerging markets like Southeast Asia and Africa are targeted for expansion, alongside strengthened presence in Europe and India.
📈 Profitability & Margins
- →The company targets a 15%-20% CAGR growth in EBITDA over the next 3-5 years, with occasional spikes due to acquisitions.
- →Confident in sustaining 20% EBITDA margins, already achieving close to this level ahead of schedule.
- →Expected EBITDA growth driven by synergies from recent merger, R&D product pipeline, and expanding Animal Health and CDMO segments.
- →Anticipates steady topline and bottomline growth from a balanced revenue mix (~55% formulations and 45% API/CDMO).
- →Free cash flow generation is strong, supporting organic growth and selective acquisitions without heavy CAPEX.
- →EPS expected to improve in line with EBITDA growth, benefiting from reduced debt and interest costs.
- →Aiming for INR 4,000 crore revenue and 20% EBITDA margin by FY'27, comfortably on track based on current run rate.
🏗️ Capital Expenditure Plans
- →The company plans capital investment in both R&D and manufacturing infrastructure, either through acquisitions or organic expansion in India.
- →Focus on expanding front-end presence with products in strong markets like Europe (Italy, Germany, France, UK, Spain).
- →Exploring growth opportunities via mergers and acquisitions, especially in emerging markets including India and Europe.
- →Intends to build new manufacturing sites for CDMO focused on complex products.
- →Current debt levels are manageable; free cash flow generation expected to support organic growth and acquisitions.
- →Considering leveraging balance sheet and potential share swaps for long-term sustainable growth.
- →Investment to accelerate companion animal business, particularly in India and key European markets.
- →Exploring supply chain strengthening and potential M&A in North America for Animal Health formulations.
- →CAPEX is expected to be moderate for existing APIs but targeted for new growth areas like CDMO and companion animals.
💰 Fundraising & Capital Structure
- →The company currently has a comfortable debt position, with debt around INR 200 crores, considered manageable.
- →They expect to generate good free cash flow over the next 12-18 months, supporting growth without urgent need for external funding.
- →There is no immediate plan for raising large amounts of debt or equity overnight; growth and investments will be paced.
- →The company is open to leveraging the balance sheet for organic growth and selective acquisitions, potentially using debt or share swap in the long term.
- →Additionally, there are warrants and remaining equity (around 25%) that the management plans to convert within 12 months, providing some additional capital.
- →Overall, the focus is on sustainable, balanced growth without aggressive fundraising but with flexibility for future strategic opportunities.
📋 Order Book & Pipeline
Key Metrics
Frequently Asked Questions
What were Viyash Scientific Ltd Q3 FY26 results?
The company targets maintaining a revenue mix of approximately 55% formulation and 45% API/CDMO, with both segments expected to show similar growth, supported by CDMO compensating slower growth in regular APIs. The company targets a 15%-20% CAGR growth in EBITDA over the next 3-5 years, with occasional spikes due to acquisitions.
What is Viyash Scientific Ltd share price analysis?
Viyash Scientific Ltd currently shows a neutral. The stock trades at a P/E of 50.8 with a market cap of ₹11,246 Cr. Investors should review the full earnings analysis for detailed insights.
Is Viyash Scientific Ltd planning capital expenditure?
The company plans capital investment in both R&D and manufacturing infrastructure, either through acquisitions or organic expansion in India.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.