NewsVoir

Gurugram (Haryana) [India], August 4: Morepen Laboratories Limited (NSE: MOREPENLAB; BSE: 500288) today announced its financial results for the quarter ended June 30, 2026, reporting its highest-ever quarterly revenue and highest-ever quarterly earnings, supported by better operating leverage, improved performance on API front, strong export growth and full scale commercialization of CDMO mandate.

Key Q1'FY27 Highlights

* Revenue: Rs. 575.31 Cr, up 34% YoY * EBITDA: Rs. 87.72 Cr, up 207% YoY * EBITDA Margin: 15.25%, improved from 6.65% in Q1 FY26 * PAT: Rs. 56.35 Cr, up 394% YoY * Export Revenue: up 111% YoY * API Growth:31%; API exports up 42% * Medical Devices Growth: 19% * CDMO order: Rs. 825 Cr CDMO mandate enters full scale commercialization phase * CDMO dispatches: Rs. 58 Cr commercial supply already completed in Q1'FY27* Regulatory:Fourth consecutive USFDA inspection with Nil Form 483 observation

The first quarter also marked a major strategic milestone as Morepen's previously announced Rs. 825 Cr CDMO mandate entered full scale commercialization phase, with Rs. 58 Cr worth of commercial CDMO dispatches already completed during the quarter. This marks the commercial validation of the Company's Morepen 2.0 strategy, focused on moving from traditional commodity APIs toward innovation-led manufacturing, long-duration CDMO partnerships, recurring customer programs and a scalable operating platform.

Commenting on the performance, Mr. Sushil Suri, Chairman & Managing Director, Morepen Laboratories Limited, said, 'Q1 FY27 marks an important validation of Morepen's transformation journey. The Company has delivered its highest-ever quarterly revenue, strong profitability improvement and meaningful operating leverage. More importantly, our Rs. 825 Cr CDMO mandate has now entered full scale commercial execution, reinforcing our shift from a transaction-led API business to a more focused, manufacturing-led platform built around long-duration global partnerships.'

'With API profitability recovering, exports growing strongly and Medical Devices continuing to scale as a second growth engine, Morepen is entering the next phase with greater confidence. Our focus remains on disciplined execution, capacity expansion, customer diversification and building deeper scientific and compliance capabilities to create a stronger, more predictable and globally relevant Morepen.'

Morepen's API business recorded 31% growth, supported by a healthy recovery in the base business, improved product mix, customer prioritisation and better operating discipline. API exports grew 42%, reflecting stronger traction in global markets. The Company believes that a stronger API base will support the transition toward a higher-quality CDMO platform.

The Company's regulatory and quality track record continues to support its global manufacturing ambitions. Morepen has completed four consecutive USFDA inspections with Nil Form 483 observations, strengthening its credibility with global pharmaceutical customers and supporting long-term CDMO partnerships.

To support larger global CDMO opportunities, Morepen is expanding its manufacturing capacity in phases. The Company's capacity roadmap envisages expansion upto 1,200 KL by FY30.

Morepen is also building the next phase of its CDMO-led growth around four strategic pillars: capacity augmentation, global partnerships, capability scale-up and global compliance. The company's technology roadmap includes deeper capabilities in small molecules, process chemistry, complex chemistry, advanced intermediates, process intensification, high-potency manufacturing, specialty APIs, difficult-to-make molecules and, over time, peptides, oligos and new modalities.

The Medical Devices business continued to provide a second scalable growth engine, recording 19% growth during the quarter. The platform is focused on chronic-care categories including blood glucose meters, blood pressure monitors, consumables and future CGM / premium device opportunities. The business has a reported installed base of 20 million blood glucose meters and annual strip scale of 500 million strips, supporting recurring consumables revenue.

Looking ahead, Morepen's near-term priorities include commercial CDMO supplies, API profitability recovery and capacity utilisation. Over the medium term, the Company will focus on capacity augmentation, new customer opportunities and operating leverage. Long term, Morepen aims to build an innovation-led manufacturing platform anchored in global partnerships and sustainable value creation.

About Morepen Laboratories Limited

Morepen Laboratories Limited is a vertically integrated pharmaceutical and healthcare company with over four decades of API manufacturing experience, globally approved facilities and exports across more than 90 countries. The Company has established leadership positions across key APIs, supported by regulated-market compliant manufacturing infrastructure and a strong global quality track record.

Morepen is progressively expanding from a traditional API business into an innovation-led manufacturing platform focused on long-duration supply contracts, CDMO partnerships, process scale-up, regulated-market customer programs and global pharmaceutical partnerships.

The Company is also developing its Medical Devices business as a scalable chronic-care healthcare platform across blood glucose monitoring, blood pressure monitoring, recurring consumables, CGM opportunities and connected health.

Forward-Looking Statements

This release contains forward-looking statements based on current expectations, assumptions and estimates relating to the Company's business strategy, growth plans, manufacturing expansion, CDMO opportunities, capacity augmentation, future financial performance, regulatory developments and market opportunities. Actual results may differ materially due to risks, uncertainties and factors beyond the Company's control. The Company undertakes no obligation to update any forward-looking statements except as required under applicable law.

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