Morepen Laboratories has reported a strong start to FY27

Morepen Laboratories has reported a strong start to FY27, with Q1 revenue reaching a record ₹575.31 crore, up 34% YoY, while EBITDA surged 207% to ₹87.72 crore and PAT jumped 394% to ₹56.35 crore. A major positive trigger is the ₹825 crore multi-year CDMO mandate, which has now entered full-scale commercial execution; Morepen had already completed around ₹58 crore of commercial CDMO dispatches in Q1, improving visibility for future revenue. The API business grew 31%, API exports increased 42%, while medical devices grew 19%, giving the company multiple growth engines. Morepen also completed its fourth consecutive USFDA inspection with zero Form 483 observations, strengthening its credibility with global pharmaceutical customers. The company plans to expand manufacturing capacity toward 1,200 KL by FY30, which could support larger CDMO opportunities. Overall, strong earnings growth, CDMO commercialization, export growth, API recovery and USFDA compliance are major positive triggers, while execution of the ₹825 crore mandate, capacity expansion, customer concentration and sustaining the sharp improvement in margins remain key risks. Morepen has also announced a final dividend record date of September 19, 2026