The CDMO Bet Is Finally Showing Up in Aarti Pharmalabs

is becoming an interesting case of a company changing its earnings mix, not just growing its existing business. Q1 FY27 revenue rose 39% YoY to ₹536 crore and PAT jumped 65% to ₹76 crore. More importantly, the company is continuing to build its CDMO platform, including a ₹149 crore new intermediate block at Atali. The interesting part is what happens if CDMO becomes a much larger share of revenue. Aarti has previously indicated a long-term ambition of taking CDMO/CMO revenue towards ₹1,000 crore. The market may still be valuing Aarti as an API/intermediate company. The rerating opportunity could come from the change in business mix.