Morepen Laboratories, a vertically integrated pharmaceutical and healthcare company, reported a strong performance for Q4 FY26, with net profit rising 69% year-on-year to ₹20 crore, while gross revenue increased 22% YoY to ₹472 crore.
The company said revenue growth during the quarter was driven by strong export momentum and continued expansion in its Medical Devices business. Operational momentum also strengthened toward the latter part of FY26.
CDMO mandate strengthens growth visibility
Backed by its multi-year ₹825 crore ($91 million) global CDMO mandate secured in February 2026 from a leading multinational company, Q4 FY26 marked the commencement of commercial production under Morepen’s long-duration manufacturing partnership programme.
The company has completed validation batches and aligned initial supply schedules for phased deliveries under the programme, with commercial supplies expected to commence shortly.
During the quarter, Morepen continued to invest in manufacturing scale-up, regulated market programmes and expansion of its Medical Devices business.
EBITDA for Q4 FY26 stood at ₹32 crore compared to ₹33 crore in the corresponding quarter last year, reflecting ongoing strategic investments aimed at supporting future growth and operating leverage.
Focus shifts towards manufacturing-led platform
Morepen Laboratories, Chairman & Managing Director, Sushil Suri, said, “Over the years, Morepen has built strong manufacturing capabilities, regulatory credibility and global customer relationships. We are now entering the next phase of growth focused on long-duration manufacturing partnerships, scale expansion and improved operating leverage.”
He further added, “The company’s business is progressively evolving from a traditional API model toward a manufacturing-led platform driven by long-duration customer programmes, recurring revenues, process scale-up and regulated-market partnerships.”
Capacity expansion underway
Morepen Laboratories, Executive Director and CEO – API, Sanjay Suri, commenting on the company’s manufacturing expansion and product pipeline, said, “We are expanding manufacturing capacity from 500 KL to 800 KL, with a longer-term roadmap towards 1000 KL. Increasing scale, improved product mix and long duration supply programs are expected to support stronger margins and earnings visibility over the medium term.”
Medical devices business scales up
Alongside its pharmaceutical business transformation, Morepen’s medical devices segment continued to witness strong traction during FY26.
The company reported 21% growth in medical devices revenue to ₹598 crore, supported by an installed base of nearly 17 million repeat users.
Morepen said the medical devices platform is being developed as a separate high-growth healthcare business focused on chronic care, consumer diagnostics, CGM opportunities and connected healthcare integration.
Strategic investments across manufacturing expansion, devices growth, customer acquisition and healthcare platforms impacted near-term profitability during FY26. However, the company believes these investments will support stronger operating leverage, margin expansion and improved long-term earnings visibility.