Biocon Limited — PPTs, 09-12-2025: Investor Presentation

Biocon Group posted FY25 revenues of **₹15,260.7 Cr** with H1FY26 revenues at **₹8,238.75 Cr**. Biosimilars drove 62% of H1FY26 revenue, followed by CRDMO Services (21%) and Generics (17%). EBITDA margins stood robust at 22% for both FY25 and H1FY26, reflecting steady growth across verticals.

The company is consolidating Biocon Limited and Biocon Biologics to streamline its corporate structure, enhance its balance sheet, and unlock synergies across its diverse portfolio. This strategic move aims to leverage combined infrastructure for accelerated growth in key therapy areas like Oncology, 'Diabesity', and Immunology.

Recent developments include major biosimilar launches planned for FY26-FY27, such as Ustekinumab and Adalimumab in the U.S., alongside the already launched Liraglutide in major markets and Semaglutide filings. Capex for major capacity expansion is largely complete, positioning the company for future demand.

Net Debt/EBITDA improved significantly to 2.5x in PF H1 FY26 from 4.3x in FY23, aided by a **₹4,500 Cr** QIP which also saves **₹300 Cr** annually in interest costs. Management expects the consolidation to complete by Q4 FY26, driving operating margins higher through new launches and operational leverage.