Core EBITDA at Rs 1,218 crore, grew 23 per cent with core operating margins of 28 per cent

Biocon has posted its Q2FY26 results. The operating revenue for Q2FY26 grew 20 per cent year-on-year (YoY) to Rs 4,296 crore. Core EBITDA at Rs 1,218 crore, grew 23 per cent with core operating margins of 28 per cent. The net R&D investments for the quarter were Rs 251 crore, representing 7 per cent of revenue ex-Syngene. EBITDA for the quarter at Rs 928 crore, grew by 29 per cent with an EBITDA margin of 21 per cent. Profit Before Tax before exceptional items stood at Rs 183 crore, an increase of 153 per cent. The net profit for the quarter, before exceptional items, stood at Rs 92 crore with a growth of 579 per cent. The reported net profit for the quarter stood at Rs 85 crore, up 428 per cent.

“Business performance in Q2 FY26 remained strong, with operating revenue up 20 per cent year-on-year to Rs 4,296 crore, driven by robust growth in Biosimilars, improved momentum in Generics, and a steady contribution from the CRDMO segment. EBITDA grew 29 per cent to Rs 928 crore, while Profit before Tax (PBT), excluding exceptional items, surged 153 per cent to Rs 183 crore. With the Board approval of the settlement of structured debt obligations, we will strengthen our balance sheet, enhance financial flexibility, and improve profitability. “Our partnership with the State of California through Civica under the CalRx initiative, marks a landmark step in expanding affordable insulin access in the US, with potential to extend to other states. With a resilient foundation, differentiated portfolio, and clear strategy, we are well positioned to sustain growth and deliver long-term value to our stakeholders," said Kiran Mazumdar-Shaw, Chairperson, Biocon Group.

"The Generics business continued its steady performance in Q2 with a growth of 24 per cent driven primarily by an uptick in recently launched products in the US and EU, as well as growth in the generic formulations base business, and the API business. A key highlight of this quarter was the inauguration of Biocon’s first OSD manufacturing facility in the US, a significant step towards expanding access to our vertically integrated portfolio for patients in the region. We commenced filings for Semaglutide (gOzempic) in various markets, including Canada and Brazil," mentioned Siddharth Mittal, CEO and Managing Director, Biocon.

“Biocon Biologics delivered a strong performance in Q2 FY26, achieving 25 per cent year-on-year revenue growth and an over 40% increase in EBITDA. Sequentially, revenues grew 11 per cent, driven by market share expansion in key therapy areas and successful new product launches. In the US, we continue to expand access to biosimilars by leveraging the strength of our commercial platform. In FY26, we launched four biosimilars across key global markets and remain on track for the bDenosumab launch," opined Shreehas Tambe, CEO and MD, Biocon Biologics.

“Our Q2 results reflect strong underlying revenue growth in research services, which has offset the expected inventory correction in biologics manufacturing. We continue to maintain our annual guidance for FY26. We are also building a GMP bioconjugation suite at our Bengaluru biologics facility, which will enable end-to-end manufacturing of Antibody Drug Conjugates (ADCs), positioning us among a select group of CRDMOs offering comprehensive ADC services," said Peter Bains, CEO and Managing Director, Syngene International.