OneSource Specialty Pharma Limited has announced a strong recovery in its fourth quarter performance for FY26, driven by growth across all major business segments and the commercial launch of semaglutide products in India. The company also reaffirmed its FY28 guidance of achieving nearly USD 400 million in organic revenue with around 40% EBITDA margin.
According to the company’s latest financial results, Q4FY26 revenue stood at ₹4,282 million, registering a sharp 47% quarter-on-quarter increase. EBITDA surged more than five times sequentially to ₹919 million, while adjusted profit after tax reached ₹390 million compared to a loss in the previous quarter.
The company attributed the turnaround primarily to successful semaglutide launches in India across multiple partner brands, along with new launches in the injectable and soft gelatin capsule businesses in the US market. CEO and Managing Director Neeraj Sharma stated that the company witnessed broad-based business recovery during the quarter and expects continued momentum in FY27 following recent semaglutide approvals in Canada and expansion of the biologics pipeline.
OneSource highlighted that it has become a CDMO partner for the first three generic semaglutide approvals in G7 countries, including two approvals in Canada and one in the United States. The company also completed Day-1 semaglutide launches in India through multiple commercial partners.
During FY26, the company added new customers, signed 31 new master service and licensing agreements, and completed 49 successful regulatory inspections and customer audits without critical observations. The biologics division also showed strong momentum, with the company reporting a fourfold increase in its biologics business funnel.
The injectable and softgel segments continued to perform strongly, supported by more than 15 commercial launches and over 10 new licensing and CDMO deals during the year. The company additionally secured its first oncology softgel NDA approval in partnership with a top US generics company.
OneSource said its ongoing capacity expansion program remains on track, with around $80 million already committed out of the planned $100 million capital expenditure. The company expects its second manufacturing line at the flagship facility to become commercially ready by Q2FY27.
Despite the strong quarterly rebound, FY26 overall remained a transition year for the company. Full-year revenue declined marginally by 2% year-on-year to ₹14,216 million, while EBITDA fell 35% due to delayed semaglutide approvals in Canada and higher operational costs linked to facility ramp-up.
The company also announced that its proposed acquisition of two USFDA-approved specialty injectable assets from Steriscience has been paused for now and may be revisited after FY28 targets are achieved.
