Wockhardt Posts Profit in FY26, Driven by Biotech and Emerging Markets Growth

Wockhardt Records Sharp Turnaround in FY26, Posts First Full-Year Profit in Recent Years

Mumbai, India - Wockhardt, a leading pharmaceutical company, has reported a significant turnaround in its financial performance for the fiscal year 2026 (FY26). The company has swung back to profitability after years of losses, driven by strong revenue growth, a revival in its biotech and emerging markets business, and a sharp improvement in margins.

In the fourth quarter of FY26 (Q4FY26), Wockhardt reported a net profit of Rs 164 crore, reversing a loss of Rs 45 crore a year ago. The company's revenue grew by 30 percent year-on-year (YoY) to Rs 965 crore, with a significant improvement in margins and strong traction in its insulin-led biotech portfolio.

The company's profitability in the quarter was further supported by higher scale in emerging markets and disciplined cost control, even as R&D investments remained steady. Exceptional items largely netted out at the full-year level, with Q4 seeing a Rs 22 crore exceptional charge, while FY26 benefited from a credit linked to settlement proceeds from Dr Reddy's Laboratories, partly offsetting restructuring and regulatory-related charges earlier in the year.

Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data

For the full year, Wockhardt reported a profit after tax of Rs 199 crore, compared with a loss of Rs 57 crore in FY25, marking its first full-year profit in recent years. Revenue rose 11 percent YoY to Rs 3,373 crore, while EBITDA increased 51 percent to Rs 630 crore, with EBITDA margins expanding to 18.7 percent from 13.8 percent.

The turnaround was driven by robust growth in the biotech segment, accelerating emerging market sales, and improved performance across its India branded portfolio. Wockhardt's biotech business posted a 27 percent growth in FY26 to Rs 697 crore, underpinned by expanding insulin partnerships in emerging markets. Q4 biotech revenue more than doubled year-on-year to Rs 252 crore, reflecting improved scale and execution.

The company continued to advance its innovation portfolio, with five novel antibiotics successfully completing Phase 3 trials, including Emrok, Miqnaf, Zaynich, and Foviscu. Zaynich received accelerated assessment from the EMA, while regulatory reviews are progressing in the US and Europe. In India, Miqnaf has been approved and launched, with expanded market access following regulatory clearances.

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

Wockhardt also reported 15 filings, 13 approvals, and 23 launches in international markets during the year, alongside continued progress in biosimilars and insulin analog development. Its intellectual property base expanded further, taking cumulative patent filings to 3,290, reinforcing its long-term innovation-led strategy.