OneSource Specialty Pharma Limited (BSE: 544292, NSE: ONESOURCE) today announced its consolidated financial results for the fourth quarter (Q4FY26) and full year ended March 31, 2026, posting a strong Q4 performance even as full-year earnings moderated. The company also reaffirmed its FY28 guidance, underscoring confidence in its growth trajectory.
Robust Q4FY26 Performance
In Q4FY26, OneSource reported revenues of ₹4,282 million, a 47% quarter-on-quarter (QoQ) increase from ₹2,903 million in Q3FY26, driven by broad-based growth across service offerings and the commercial launch of semaglutide in India. EBITDA for the quarter rose more than fivefold QoQ to ₹919 million, compared to ₹173 million in Q3FY26, reflecting strong operating leverage on higher contract services (CSA) revenues. EBITDA margin improved sharply to 21% in Q4FY26 from 6% in the previous quarter, an expansion of 1,550 basis points.
Adjusted profit after tax (PAT) for Q4FY26 stood at ₹390 million, marking a turnaround from an adjusted loss of ₹472 million in Q3FY26. Adjusted earnings per share (EPS) similarly moved from a loss of ₹4.1 in Q3FY26 to a profit of ₹3.4 in Q4FY26. The company noted that adjusted PAT and EPS exclude exceptional items and scheme-related intangible amortisation for comparability.
Full-Year FY26 Results
For the full year FY26, OneSource reported revenues of ₹14,216 million, marginally lower than ₹14,449 million in FY25, reflecting a 2% year-on-year (YoY) decline. EBITDA for FY26 was ₹3,042 million, down 35% from ₹4,665 million in FY25. EBITDA margin for the year stood at 21%, compared to 32% in FY25, a contraction of 1,089 basis points.
Adjusted PAT for FY26 was ₹739 million, a 68% decline from ₹2,314 million reported in FY25. Adjusted EPS fell from ₹21.0 in FY25 to ₹6.5 in FY26, primarily due to lower EBITDA and margin compression versus the previous year. Adjusted PAT and EPS figures exclude exceptional items (Q4FY26: ₹0.3 million; Q3FY26: ₹71 million; FY26: ₹99 million; FY25: ₹1,108 million) and scheme-related intangible amortisation (Q4FY26: ₹344 million; Q3FY26: ₹344 million; FY26: ₹1,378 million; FY25: ₹1,413 million), as disclosed by the company.
Management Commentary
Commenting on the performance, Mr. Neeraj Sharma, CEO & Managing Director, OneSource Specialty Pharma Limited, said, “We saw a strong recovery in Q4 driven by broad-based business performance. The quarter was marked by successful semaglutide launches in India across multiple customer brands, as well as new launches in the US injectables and soft-gelatin businesses. With the recent back-to-back semaglutide approvals in Canada and continued expansion of our biologics pipeline, we are well-positioned to sustain growth momentum into FY27.”
FY28 Guidance Reaffirmed
Reiterating its long-term growth outlook, OneSource reaffirmed its FY28 guidance of approximately USD 400 million in organic revenue and an EBITDA margin of around 40%. The company believes its semaglutide franchise, expanding biologics pipeline, and growing US injectables and soft-gelatin businesses provide a strong foundation to achieve these targets.
The company has made available a detailed investor communication on its Q4FY26 and FY26 performance for further information.
