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Revenue Growth: 7.6% increase in Q2 FY26, reaching INR 181.7 crores from INR 168.9 crores in Q1 FY26.
EBITDA: Increased by 7.1% to INR 43.6 crores in Q2 FY26 from INR 40.7 crores in Q1 FY26, with an EBITDA margin of 24.0%.
Domestic Formulation Business Growth: 17.2% growth in Q2 FY26 over Q2 FY25, outpacing the Indian pharmaceutical market growth of 7.7%.
H1 Revenue Growth: 3.8% increase over H1 last year.
Net Cash Surplus: Approximately INR 223 crores, maintaining a debt-free status.
Naprosyn Brand Growth: 16% year-over-year growth in H1 FY26, on track to become the first INR 100 crore brand.
Immunosuppressant Portfolio Growth: 12% growth in H1 FY26.
API Business Contribution: 9% of total business, with recovery efforts following a fire incident.
Sales Force Productivity: INR 6.5 lakhs per rep per month, up from INR 6.1 lakhs last year.
Specialty Productivity: INR 17 lakh PCPM in Q2.
Release Date: October 17, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
RPG Life Sciences Ltd (BOM:532983) reported a robust growth of 17.2% in its domestic formulation business for Q2 FY26, significantly outpacing the Indian pharmaceutical market growth of 7.7%.
The company advanced its IPM ranking by 6 places, moving from 62 to 56, driven by volume expansion, strategic brand building, and disciplined execution.
RPG Life Sciences Ltd’s largest brand, Naprosyn, grew 16% year-over-year in H1 FY26 and is on track to become the company’s first INR100 crore brand.
The company remains debt-free with a high cash surplus of approximately INR223 crores, despite significant CapEx investments in modernizing and enhancing its plants.
RPG Life Sciences Ltd was recognized as the leading mid-corporate of India 2025 by Dun & Bradstreet, reflecting its strong operational and quality focus.
The company faced headwinds in its API business due to a fire incident at its factory in January, leading to a sales loss of INR16 crores.
Gross margin compression was noted, partially due to reliance on third-party suppliers and the inability to produce captive API following the fire incident.
RPG Life Sciences Ltd does not currently have any exposure to the U.S. market, which could limit its growth opportunities in one of the largest pharmaceutical markets.
There is ongoing margin pressure in the MABs (monoclonal antibodies) segment due to increased competition and price erosion.
Despite the company’s strong domestic performance, the international formulation business only grew by 7.0% in Q2, indicating slower growth compared to the domestic market.
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