Morepen Laboratories Limited has reported a robust performance for the fourth quarter of FY26, with net profit soaring by 69% year-on-year to ₹20 crore and gross revenue climbing 22% to ₹472 crore. The company’s revenue growth was driven by strong export momentum and expansion in its Medical Devices business.
The quarter’s highlights include a 17% growth in the API business and a 31% increase in the Medical Devices segment. Morepen’s standalone gross revenue for FY26 surpassed ₹1,700 crore, marking an 8% rise. The board has proposed a 10% dividend for the fiscal year.
Morepen’s CDMO programme, which received a substantial ₹825 crore global mandate in February 2026, has moved into commercial execution. The company has completed validation batches and is preparing for phased delivery under this long-duration manufacturing partnership.
Investments in manufacturing scale-up and Medical Devices expansion were significant during the quarter. The company’s EBITDA was ₹32 crore in Q4 FY26, slightly down from ₹33 crore in the previous year, reflecting these strategic investments aimed at enhancing operating leverage and margin expansion.
Chairman and Managing Director Mr. Sushil Suri stated that Morepen is entering a new growth phase, focusing on long-duration manufacturing partnerships and scale expansion. He emphasised the company’s shift from a traditional API model to a manufacturing-led platform.
Executive Director and CEO – API, Mr. Sanjay Suri, highlighted the expansion of manufacturing capacity from approximately 500 KL to 800 KL, with plans for further growth. He also noted the completion of a pivotal bioequivalence study for Resmetirom 100 mg, a treatment for liver fibrosis associated with MASH, covering major regulated markets outside the US.
Morepen’s Medical Devices business continues to grow, with FY26 revenue increasing by 21% to ₹598 crore and an installed base of nearly 17 million repeat users. The company is developing this segment as a separate high-growth healthcare platform.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).