AstraZeneca Pharma India Limited – Financial Results Review
Date of Filing: August 14, 2025
Period under Review: Quarter ended June 30, 2025 (Q1 FY26)
1. Auditor’s Note
- The Limited Review Report by Price Waterhouse & Co Chartered Accountants LLP is unqualified.
- No qualifications, concerns, or issues were raised.
- The auditor confirms that the financial results comply materially with Indian Accounting Standards and SEBI Listing Regulations.
2. Financial Performance
| Particulars | Q1 FY26 (Apr-Jun 2025) | Q4 FY25 (Jan-Mar 2025) | Q1 FY25 (Apr-Jun 2024) | FY25 (Apr 2024-Mar 2025) | FY24 (Apr 2023-Mar 2024) Not provided |
|---|---|---|---|---|---|
| Revenue from operations (Rs mn) | 5,263.1 | 4,804.8 | 3,875.2 | 17,162.9 | - |
| Other income (Rs mn) | 112.4 | 161.5 | 83.5 | 406.3 | - |
| Total income (Rs mn) | 5,375.5 | 4,966.3 | 3,958.7 | 17,569.2 | - |
| Total expenses (Rs mn) | 4,624.9 | 4,124.8 | 3,534.7 | 15,037.7 | - |
| Profit before exceptional items & tax (Rs mn) | 750.6 | 841.5 | 424.0 | 2,531.5 | - |
| Exceptional items (Rs mn) | (3.6) | (56.8) | (575.6) | (967.9) | - |
| Profit before tax (Rs mn) | 747.0 | 784.7 | (151.6) | 1,563.6 | - |
| Tax expense (Rs mn) | 188.7 | 202.2 | (33.7) | 406.2 | - |
| Profit after tax (Rs mn) | 558.3 | 582.5 | (117.9) | 1,157.4 | - |
| Other comprehensive income (Rs mn) | 6.1 | 14.6 | 7.4 | (11.7) | - |
| Total comprehensive income (Rs mn) | 564.4 | 597.1 | (110.5) | 1,145.7 | - |
| Paid-up equity share capital (Rs mn) | 50.0 | 50.0 | 50.0 | 50.0 | - |
| Earnings per share (Rs) | 22.33 | 23.30 | (4.72) | 46.30 | - |
Margins & Growth:
- Revenue from operations grew 36% YoY (Q1 FY26 vs Q1 FY25).
- Profit before exceptional items and tax increased by 77% YoY (Rs 750.6 mn vs Rs 424.0 mn).
- Profit after tax swung from a loss of Rs (117.9) mn in Q1 FY25 to a profit of Rs 558.3 mn in Q1 FY26.
- EPS improved from negative Rs (4.72) to Rs 22.33 in Q1 FY26.
- Exceptional items relate to closure costs of manufacturing site and restructuring.
3. Detailed Notes / Management Commentary
- Accounting Policies: Results prepared as per Indian Accounting Standards (Ind AS), no changes reported.
- Manufacturing Site Closure: Operations at the manufacturing site ceased during Q1 FY26; decommissioning started. Plant and machinery fully depreciated.
- Exceptional Items:
- Costs related to closure of manufacturing site included in exceptional items for Q1 FY26, Q4 FY25, Q1 FY25, and FY25.
- FY25 exceptional items also include Rs 331.5 mn employee separation cost due to restructuring of Biopharmaceuticals Business Unit aligned with company strategy to become a specialist-focused organization.
- Business Strategy: Focus on growth through innovation, portfolio expansion, and regulatory approvals.
- Regulatory Milestones: Multiple CDSCO approvals for new indications in Oncology and Rare Disease therapies during Q1 FY26.
- Management Commentary:
- CFO highlights strong Q1 performance driven by science-led innovation and disciplined execution.
- Managing Director emphasizes consistent growth across therapy areas and commitment to transforming patient outcomes.
4. Segment Information
- The Company has identified Healthcare as its only reportable segment.
- No further segmental breakdown provided.
5. Capex, Projects, and Corporate Activity
- Manufacturing Site: Ceased operations and started decommissioning in Q1 FY26.
- Exceptional Costs: Related to closure and restructuring, including employee separation costs.
- No specific capital expenditure or new project details disclosed.
- No acquisitions, disposals, mergers, or divestitures reported in this filing.
- Strategic shift towards becoming a specialist-focused organization in Biopharmaceuticals.
6. Standalone vs Consolidated
- Only Standalone financial results are provided and reviewed.
- No consolidated results included in this filing.
Additional Highlights from Press Release
-
Therapy Area-wise Revenue (Q1 FY26 vs Q1 FY25):
- Oncology: Rs 3,702.7 mn vs Rs 2,394.2 mn
- Biopharmaceuticals (CVRM, R&I, V&I): Rs 1,183.2 mn vs Rs 1,263.3 mn
- Rare Disease: Rs 4.2 mn vs Rs 2.1 mn
-
Awards & Recognition:
- OPPI Medical Excellence Award 2025 (Medical Affairs, Regulatory Excellence, Clinical Trials)
- 1st Place in 2025 SAS Customer Recognition Awards for innovative use of Real-World Data
- Featured by Fortune India as a leading multinational transforming healthcare in India
Summary for Investment Analysis Team
| Aspect | Key Takeaway |
|---|---|
| Auditor’s Opinion | Unqualified Limited Review Report; no issues identified |
| Revenue Growth | +36% YoY growth in Q1 FY26; strong momentum across therapy areas |
| Profitability | Profit after tax turnaround from loss to Rs 558.3 mn; EPS improved significantly |
| Exceptional Items | Costs related to manufacturing site closure and restructuring; impacting comparability |
| Manufacturing Site Closure | Operations ceased; plant fully depreciated; decommissioning underway |
| Segment Reporting | Single Healthcare segment only; no further breakdown |
| Corporate Strategy | Focus on innovation, portfolio expansion, and becoming a specialist-focused organization |
| Regulatory Approvals | Multiple new indications approved by CDSCO in Oncology and Rare Disease |
| Capex / Projects | No new capex or projects disclosed; strategic shift away from manufacturing |
| Standalone vs Consolidated | Only standalone results provided |
Conclusion: AstraZeneca Pharma India Limited demonstrated strong financial and operational performance in Q1 FY26 with significant revenue growth and return to profitability. The company is executing a strategic shift away from manufacturing towards a specialist biopharmaceutical focus, supported by regulatory approvals and portfolio expansion. Exceptional costs related to restructuring and site closure should be monitored for impact on future quarters.