Biocon Q2FY26 results: Consolidated net profit at ₹84.5 cr, revenue up 21%

The biosimilars segment, operated by Biocon Biologics, reported revenues of Rs 2,721 crore, reflecting strong 25 per cent year-on-year growth

Biopharmaceutical company Biocon on Tuesday reported a consolidated net profit of ~84.5 crore for the second quarter of 2025-26 (Q2FY26), rebounding from a ~16 crore loss it had suffered in the same period last year.

  The turnaround was driven by a strong growth in the Biosimilars segment, improved performance in generics, and a steady contribution from the CRDMO business.

 

The company reported profit before tax (PBT) of ~171.3 crore, up 74.1 per cent in Q2FY26.

 

But Biocon Limited has missed analyst revenue estimates of ~2.268 billion (about ~2,26,800 crore). The Net R&D investments for the quarter were ~251 crore, representing 7 per cent of revenue ex-Syngene.

 

Consolidated net revenue was up 21.14 per cent to ~4,388.5 crore. The net sales were up 19.6 per cent to ~4,295.5 crore in Q2FY26 against ~3,590.4 crore in Q2FY25.

 

Ebitda (earnings before interest, taxes, depreciation and amortisation) for the quarter under review stood at ~928 crore, up 29 per cent, while maintaining a margin of 21 per cent.

 

“With the Board approval of the settlement of structured debt obligations, we will strengthen our balance sheet, enhance financial flexibility, and improve profitability,” said Kiran Mazumdar-Shaw, chairperson, Biocon.

 

“Our partnership with the State of California through Civica Inc. under the CalRx initiative, marks a landmark step in expanding affordable insulin access in the US, with potential to extend to other states. With a resilient foundation, differentiated portfolio, and clear strategy, we are well positioned to sustain growth and deliver long-term value to our stakeholders,” Mazumdar-Shaw added.

 

The Biosimilars segment, operated by Biocon Biologics, reported revenues of ~2,721 crore, reflecting a strong 25 per cent year-on-year growth. On a sequential basis, revenues grew 11 per cent, driven by market share expansion in key therapy areas and successful new product launches.

 

“In the US, we continue to expand access to biosimilars by leveraging the strength of our commercial platform.  In FY26, we launched four biosimilars across key global markets and remain on track for the Denosumab launch,” said Shreehas Tambe, CEO & Managing Director, Biocon Biologics.

 

The generics segment, which comprises APIs and generic formulations, recorded revenues of ~774 crore, reflecting a strong 24 per cent year-on-year growth. The performance was fuelled primarily by an uptick in recently launched products in the US and EU, as well as growth in the generic formulations base business, and the API business.

 

“A key highlight of this quarter was the inauguration of Biocon’s first OSD manufacturing facility in the United States, a significant step towards expanding access to our vertically integrated portfolio for patients in the region. We commenced filings for Semaglutide (gOzempic) in various markets, including Canada and Brazil,” said Siddharth Mittal, CEO & Managing Director, Biocon.

 

The CRDMO segment, operated through Syngene, reported revenues of ~911 crore, registering a 2 per cent year-on-year growth. This reflected strong underlying revenue growth in research services, which has offset the expected inventory correction in biologics manufacturing. We continue to maintain our annual guidance for FY26.

 

“We are also building a GMP bioconjugation suite at our Bengaluru biologics facility, which will enable end-to-end manufacturing of Antibody Drug Conjugates (ADCs), positioning us among a select group of CRDMOs offering comprehensive ADC services,” said Peter Bains, CEO & Managing Director, Syngene International.

 

Biocon highlighted that it has strengthened its balance sheet by settling its structured debt obligations with Goldman Sachs and Kotak through QIP proceeds and has also executed an agreement with Edelweiss.  This will improve margins going forward and the full impact of reduced interest cost will be reflected in FY27.