Senores Pharmaceuticals Limited reported strong
financial and operational performance for the fourth quarter and full year ended March 31,
2026, reflecting sustained growth across regulated markets, emerging markets, and branded
generics businesses. The research driven pharmaceutical company announced its audited
financial results highlighting significant expansion in revenues, profitability, and strategic
capabilities.

 

Strong Financial Performance
During Q4 FY26, Senores reported total income of ₹190 crore, registering a 58% year-on-
year increase. EBITDA rose sharply to ₹62 crore, up 144% YoY, while profit after tax (PAT)
reached ₹37 crore, growing 105% YoY, demonstrating strong operating leverage and
disciplined execution.

 

For the full year FY26, consolidated total income stood at ₹664 crore, reflecting 62% year-
on-year growth. EBITDA increased to ₹200 crore, up 96% YoY, while PAT rose to ₹122 crore,
marking a 108% increase over the previous year.

 

Operating performance also strengthened significantly, with cash flow from operations
reaching ₹75 crore during FY26, supported by improved EBITDA to operating cash flow
conversion.

 

Performance Across Key Business Segments:
Regulated Markets
The regulated markets business remained the primary growth driver.
Q4 FY26 revenue from regulated markets reached ₹117.8 crore, growing 83% year-on-year,
while FY26 revenue increased to ₹427.4 crore, up 74.6% YoY.

 

The company now has 51 approved ANDAs covering 151 strengths, with over 30 approved
ANDAs yet to be commercialized. In addition, 27 ANDAs involving 65+ strengths remain
under development, providing strong long term visibility for growth.

 

Emerging Markets
The emerging markets business continued on a steady growth trajectory.
Q4 FY26 revenue stood at ₹45.9 crore, reflecting 25.8% year on year growth, while FY26
revenue reached ₹145 crore, up 19.7% YoY. EBITDA margins for FY26 were approximately
12%, supported by increasing focus on niche and differentiated products.

 

Senores Pharmaceuticals Limited
1101to1103,11thFloor,SouthTower,One42,Opp.JayantilalPark,
AmbaliBopal Road, Ahmedabad 380054,Gujarat, India

 

Branded Generics
The India-focused branded generics business delivered exceptional expansion.
Q4 FY26 revenue increased to ₹9.4 crore, growing 132.4% year-on-year, while FY26 revenue
surged to ₹40 crore, representing approximately 385% YoY growth. The portfolio has
received approvals from leading multi specialty and specialty hospitals, strengthening
market acceptance and future scalability.

 

Strategic Business Developments
During FY26, Senores executed multiple strategic initiatives aimed at strengthening its
global platform and accelerating growth.

 

Acquisition of Apnar Pharmaceuticals: The company completed Phase 1 acquisition of a
75% stake, with the remaining 25% expected to be completed by Q2 FY27. Product rollouts
from the facility commenced in Q4 FY26, with revenues beginning to flow. The facility is
expected to scale meaningfully over the next 12–18 months, enhancing manufacturing
capacity, operating leverage, margins, and CDMO CMO opportunities.

 

Acquisition of Zoraya Pharmaceuticals: Senores entered into an agreement to acquire a
51% membership interest in Zoraya Pharmaceuticals, LLC, USA. The platform will support
vertical integration and serve as a dedicated market facing brand for commercialization of
the acquired ANDA portfolio in the United States.

 

Entry into U.S. Federal Market: In April 2026, the company established Amerisyn, a 70%
joint venture in the United States, creating a direct pathway to supply pharmaceuticals to
federal, veterans, and defense sectors. This initiative enables access to a high entry barrier
government procurement market and strengthens Senores’ global commercialization
capabilities.

 

Management Commentary
Commenting on the FY26 performance, Swapnil Shah, Managing Director, Senores
Pharmaceuticals Limited, said:

 

“We have delivered a robust performance across segments in FY26, driven by operational
discipline, consistent execution, and strong momentum in key growth areas despite an
uncertain operating environment.

 

Our approved ANDA portfolio has more than doubled during the year, increasing from 26
ANDAs as of March 2025 to 51 ANDAs as of March 2026. With over 30 approved ANDAs yet
to be commercialized and 27 molecules under development, we have built a strong pipeline
expected to drive future launches.

 

Senores Pharmaceuticals Limited
1101to1103,11thFloor,SouthTower,One42,Opp.JayantilalPark,
AmbaliBopal Road, Ahmedabad 380054,Gujarat, India
The acquisition of Apnar Pharmaceuticals expands our manufacturing footprint and
strengthens scalability while improving margins and enabling new CDMO-CMO
opportunities. Initial revenues have already begun, and we expect the facility to emerge as a
key growth driver over the next 12–18 months.

 

The acquisition of Zoraya Pharmaceuticals enhances our U.S. marketing and distribution
capabilities, while the Amerisyn joint venture marks an important milestone by enabling
entry into the U.S. government procurement market. Together, these initiatives position
Senores for sustained long term growth.”

 

Outlook
Senores continues to focus on expanding its regulated market pipeline, strengthening
vertical integration, scaling branded generics, and improving profitability across emerging
markets. Investments in product development, manufacturing expansion, and global
commercialization platforms are expected to support sustained growth momentum in the
coming years.