Kwality Pharmaceuticals Ltd (KPL) — concall transcript | 31 March 2026

Kwality Pharmaceuticals reported FY26 revenue of INR503 crores (up 36% YoY) and PAT of INR67 crores (up 69%), with margins expanding to 13.4% from 10.8% due to operational efficiencies. The company achieved international audit clearances, expanded into LatAm, Africa, GCC, MENA, and MENA, and upgraded its ICRA rating to BBB+. Oncology revenue reached INR100 crores in FY26, targeting INR300 crores by FY29 with 30-32% EBITDA margins. Capex of INR65 crores funded Unit 6 (hormones), with 50% spent in FY26 and a target of INR150 crores revenue before FY29. FY27 revenue guidance is INR650-700 crores (PAT INR100 crores), with FY29 target of INR1,000 crores. Capex for FY27-FY28 is INR90-100 crores annually for oncology, biosimilars, R&D, and hormone expansion. Working capital and interest costs are expected to remain stable.