Rubicon Research Limited (RUBICON) — FY26 Annual Report | 13 August 2026

Rubicon Research Limited reported a 37% YoY revenue increase to INR 17,540 million and 52% YoY growth in operating EBITDA to INR 4,002 million for FY26, with PAT rising 84% to INR 2,467 million and ROACE improving to 36%. The company completed its IPO in October 2025, raised INR 13,775 million, and acquired an 85% stake in Arinna Lifesciences to enter the CNS market. Key growth drivers include specialty products now contributing 33% of gross profit (up from 13% in FY2023), a vertically integrated US supply chain, and R&D investment of INR 1,935 million (11% of revenue). Manufacturing spans three Indian sites with FDA compliance, while strategic priorities focus on Pithampur facility ramp-up, Arinna integration, and expanding its specialty pipeline targeting CNS and rare diseases.