Aurobindo Pharma Q1 FY27 Results (NSE: AUROPHARMA)
Signal: Growth reaccelerated
The read
The key inflection is a reacceleration in consolidated revenue growth to +16.3% YoY from +5.6% in Q4FY26, led by Europe at +25.6% and Growth Markets at +37.7%; adjusted EBITDA margin expanded 60bps YoY to 21.0% and PAT grew +25.2% to ₹1032.56 crore, although US growth remained comparatively modest at +8.1%.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹9,150.35 Cr | 16.3% | 3.4% |
| EBIT | ₹1,658.47 Cr | N/A | |
| Net profit | ₹1,032.56 Cr | 25.2% | |
| EPS | ₹17.86 | N/A | |
| EBIT margin | 23.4% |
P&L walk
Consolidated revenue increased to ₹9150.35 crore, +16.3% YoY and +3.4% QoQ, with adjusted EBITDA margin at 21.0%, +60bps YoY, and PAT at ₹1032.56 crore, +25.2% YoY; growth was led by Europe and Growth Markets, while the filing does not disclose the exact drivers of statutory EBITDA margin movement.
Segments
The filing provides a geography and business revenue split rather than a segment PBIT table; Europe at ₹2937 crore, +25.6% YoY, and Growth Markets at ₹1063 crore, +37.7% YoY, were the main consolidated growth engines, while ARV revenue declined 6.9% YoY to ₹330 crore.
Key positives
- Consolidated revenue reached ₹9150.35 crore, +16.3% YoY, accelerating from +5.6% YoY in Q4FY26.
- Europe revenue grew +25.6% YoY to ₹2937 crore and Growth Markets revenue grew +37.7% YoY to ₹1063 crore, providing geographic diversification beyond the US.
- Adjusted EBITDA margin before forex, other income and exceptional items expanded 60bps YoY to 21.0%, while adjusted EBITDA increased 20.0% YoY to ₹1924 crore.
- The company received 10 final USFDA product approvals during the quarter and generated USD 98mn of free cash flow.
Key concerns
- US revenue growth of +8.1% YoY to ₹3770 crore lagged consolidated revenue growth of +16.3% and Europe and Growth Markets.
- API revenue declined 13.1% QoQ to ₹1049 crore, reflecting sequential seasonal softness in the antibiotics portfolio.
- ARV revenue declined 6.9% YoY to ₹330 crore and remains exposed to tender-driven quarter-to-quarter variation.
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