Natco Pharma Limited — Investor Meet, 20-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Natco Pharma reported strong Q2 FY26 financial results: revenue Rs 1,463 Cr, PAT Rs 517.9 Cr, and 46.4% EBITDA margins. Management projects Q3/Q4 PAT of Rs 135-150 Cr quarterly, guiding FY26 PAT to Rs 1,275-1,300 Cr, citing increased Lenalidomide competition. The Rs 1,600 Cr Adcock acquisition aims to stabilize earnings and diversify the portfolio. Key growth opportunities include the India Semaglutide launch by March/April 2026 and the much larger US Semaglutide opportunity. The Crop Health Sciences demerger is planned for 2026 to unlock shareholder value. Management is confident in its long-term pipeline and strategic growth.