Torrent Pharmaceuticals Ltd – Q1 FY26 Financial & Business Highlights

• Revenue from operations: ₹3,178 crore, up ~11% YoY • Net Profit after Tax (PAT): ₹548 crore, up ~20% YoY • EBITDA: ~₹1,032 crore, up ~14% YoY with a margin of ~32.5% • Gross margin: ~76% • India revenue: ₹1,811 crore, up ~11%; chronic therapies grew ~13%, outpacing Indian Pharma Market (IPM) growth (~9%) • US revenue: ₹308 crore, up ~19% YoY; new launches are reportedly achieving targeted market share • Brazil revenue: ₹218 crore, up ~11% YoY • Germany revenue: ₹308 crore, up ~9% YoY, though constant currency growth was more modest, affected by supply chain disruption • R&D spend: ~₹157 crore, up ~16% YoY Strengths • Strong growth both domestically and internationally, especially in chronic therapy segment • Healthy margin metrics; gross margins stable, EBITDA margin solid • New launches in key markets performing well; good product execution in the US, Brazil, Germany Challenges & Risks • Supply disruptions affected growth in some markets (e.g. Germany) • Increasing cost pressures — one-off acquisition expenses (~₹15 crore) are small but need to be managed • Maintaining growth pace and margins across geographies depends on regulatory, supply chain, and product approval risks Conclusion Torrent Pharma delivered a robust Q1 FY26. Revenue and profitability are growing well, supported by both domestic and international markets. Margin performance is solid; its chronic business is outperforming the broader market. Growth in key export markets (US, Brazil) adds confidence. For going forward, focus should be on managing supply disruptions, controlling costs, and sustaining R&D productivity. Overall, the prospects look strong.