IPCA Laboratories Limited — Investor Meet, 18-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Ipca Laboratories reported its Q3 FY26 results. Domestic business grew 12%, outpacing the industry, with export formulations up 17%. Consolidated revenue was ₹2,245 Cr (vs ₹2,393 Cr last year, management cited 6.5% growth). Standalone EBITDA margin improved to 26.09%, and consolidated to 22.5%, driven by product mix and high-margin businesses. Unichem's US market share loss impacted Q3, but management expects improvement to 15-20% EBITDA in 2-3 years through European growth and Ipca portfolio integration. Overall, Ipca targets 10-11% revenue growth and 1.5% annual EBITDA margin expansion. Biosimilar development and US filings are advancing. Sentiment is cautiously optimistic.