The company reported a one-time gain of Rs 1,075 crore in Q1 FY25 from divestment of its branded formulations India (BFI) business.

Core EBITDA stood at Rs 1,003 crore in Q1 June 2025, registering the growth of 11% compared with Rs 903 crore in Q1 FY25. Core EBITDA excludes impact of forex, R&D expense, licensing income, BFI divestment gain, and mark-to-market movement on investments.

Core EBITDA margin fell to 25% in Q1 FY26 compared with Rs 26% in Q1 FY25.

Revenue from generics business increased 6% YoY to Rs 697 crore during the quarter. Revenue from biosimilars business stood at Rs 2,458 crore, registering the growth of 18% YoY, driven by robust demand for the company’s products across geographies.

The company’s contract research development & manufacturing organization (CRDMO) business reported a positive start to FY26 with revenue from operations growing 11% year-on-year to Rs 875 crore and EBITDA rising 19%. Growth was primarily driven by the continued conversion of pilot programs into long-term contracts within the Research Services business.

Kiran Mazumdar-Shaw, chairperson, Biocon Group, said, “Biocon opened FY26 with a strong performance, driven by continued gains in Biosimilars and CRDMO, and a steady showing in Generics. Operating Revenue rose 15% YoY to Rs 3,942 crore, with EBITDA up 19% on a like-for-like basis, demonstrating operating leverage and the robustness of our businesses.

The recent QIP has strengthened our balance sheet and enables us to increase our ownership in Biocon Biologics by facilitating the exit of structured equity investors, aligning capital structure with long-term strategic priorities. Key developments this quarter include the launch of Yesafili in Canada, our tenth biosimilar globally, and USFDA approval for Insulin Aspart, our second interchangeable biosimilar Insulin, further deepening our presence in the U.S. insulin market. With execution momentum across all businesses and expanded capacity through acquisitions in the U.S. by Syngene and Biocon Generics, we are well-positioned to drive long-term value creation in FY26 and beyond.”

Siddharth Mittal, CEO & managing director, Biocon, said, “Biocon Biologics started FY26 on a strong footing, delivering 18% year-on-year revenue growth, driven by robust demand across key markets. EBITDA rose 36% Y-o-Y on a like-to-like basis to Rs 645 crore, with a 300 bps sequential margin improvement, driven by improved operating leverage.”

Peter Bains, CEO & managing director, Syngene International, said, “We delivered a strong first-quarter performance in line with expectations, with revenue from operations growing 11% year-on-year to Rs 875 crore and EBITDA at Rs 224 crore, reporting a growth of 19%. Growth was driven by continued momentum in research services, as pilot programs transitioned into long-term contracts.”

Meanwhile, the company’s board approved entering into power purchase agreement and share purchase/ subscription agreement/ shareholders agreement with Pro-zeal Green Power Sixteen (PGPSPL) for purchase of solar power from captive off-site solar energy power plant. As part of this arrangement, the company will acquire a 26% stake in PGPSPL.

Biocon is a global biopharma company dedicated to improving affordable access to therapies for chronic conditions like diabetes, cancer, and autoimmune diseases.