Wockhardt: Zaynich leads the next growth phase

Wockhardt Limited is pursuing a transition from a traditional pharmaceutical portfolio towards a research-led specialty pharma and biotechnology model. The long-term opportunity centres on novel antibiotic Zaynich, insulin and biosimilars, and a pipeline that includes GLP-1 molecules. Figures supplied for this draft: FY26 revenue approximately ₹3,373 crore; Q1 FY27 revenue ₹929 crore (+26% YoY); Q1 FY27 EBITDA approximately ₹188 crore; biotechnology revenue approximately ₹236 crore (+112% YoY); FY26 EBITDA approximately ₹630 crore and margin approximately 18.6%. These have not been independently verified here and must be reconciled with official filings before distribution. Analyst inputs: reference market price ₹2,084 (date not specified); stance: no recommendation; investment horizon: five years; position: no position, as declared by the analyst.