Divi's Laboratories Limited — Investor Meet, 23-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Divi’s Laboratories reported Q4 revenue of Rs.2,671 Cr (+12% YoY) and FY25 revenue of Rs.9,712 Cr (+19% YoY constant currency). PAT was Rs.662 Cr for Q4 and Rs.2,191 Cr for FY25, with EBITDA margin gains from product mix shifts. Exports formed 88% of sales, led by Europe and the US. Pricing pressure in generics persisted but volumes and leadership stayed stable. Custom synthesis showed strong momentum with a new long-term supply deal expected to commercialize by late 2026. The new Unit-III facility began phased production, boosting integration and supply security. Management flagged supply chain challenges but expects stable freight rates ahead. Capex guidance is around Rs.1,400 Cr for FY26, focused on capacity and innovation. Growth drivers include tech upgrades, strong customer ties, and continued investments in peptides, custom synthesis, and generics. Analyst discussion highlighted sales cycle variability in custom synthesis and focus on innovative molecules like GLP-1 analogs. Overall, the outlook is positive, supported by resilient exports, product innovation, and supply chain strength.