Biocon Limited — PPTs, 13-02-2026: Investor Presentation

Here's a summary of Biocon Limited's Q3 FY26 earnings call:

**Business Performance:** Biocon reported Q3 FY26 revenue from operations of ₹4,173 Cr, up 9% year-over-year (YoY). Biosimilars revenue grew 9% YoY to ₹2,497 Cr, driven by strong performance in North America, particularly oncology and immunology. Generics segment saw robust growth of 24% YoY to ₹851 Cr, largely from new gLiraglutide launches in Europe. The CRDMO segment revenue was ₹917 Cr, down 3% YoY due to challenges with one manufacturing customer, though 9MFY26 was up 3% YoY.

**Growth Drivers or Strategy:** The company is undergoing a pivotal transformation towards a unified global biopharma platform, simplifying its structure post-Biocon Biologics integration. Strategic focus areas include leadership in interchangeable insulins and generic GLP-1 peptides, along with a deep biosimilars pipeline. A renewed focus for CRDMO is diversifying its customer base.

**Recent Developments:** Biocon Biologics expanded its partnership with Civica for affordable Insulin Glargine. They also secured key approvals for Yesafili PFS in the UK and Yesintek® autoinjector in Europe, and launched Yesafili® in Turkey. In Generics, gLiraglutide launched across EU markets, and the company received US FDA EIRs (VAI) for its Cranbury OSD and Visakhapatnam API units. CRDMO extended its BMS partnership through 2035 and commissioned a new liquid-filled hard gelatin capsule facility.

**Key Financial Metrics:**

* Revenue from Operations: ₹4,173 Cr (↑ 9% YoY)

* Core EBITDA: ₹1,221 Cr (↑ 21% YoY), with a 29% margin.

* Net Profit (Reported): ₹144 Cr (↑ 475% YoY).

**Management Commentary / Outlook:** Management highlighted that major capital expenditure is largely behind, and operating leverage is beginning to manifest. The company is transitioning towards sustainable growth, margin expansion, and cash flow-led value creation, confident in delivering long-term value for stakeholders.