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• In-line Results: Aurobindo Pharma's Q4FY25 results were in line with expectations. Revenue grew by 10.6% YoY and 5.1% QoQ, driven by strong performance in the US and European markets. Gross margins improved by 30 bps QoQ but declined by 50 bps YoY. EBITDA margins decreased by 70 bps YoY but improved by 128 bps QoQ. Reported profit stood at Rs 903 Cr.

• North America & Europe Business: Aurobindo recorded revenue of $470 Mn (8.8% YoY growth in constant currency), with an estimated $35 Mn contribution from gRevlimid. Europe Business, which contributes 25.6% to total revenue, grew by 17.2% YoY (+1.2% QoQ) to Rs 2,147 Cr. This was driven by increased demand, strong volume growth, and an expanding product portfolio. The company continues to expand its presence in Europe, focusing on both generics and speciality products.

• Key facilities are poised to drive growth: The China OST plant (2 Bn units/year) was commercialised in FY25 and will impact FY26 revenues. The US-based Dayton OST plant is set for FY26 launch, boosting North American presence. The Raleigh plant is nearing full operations, expanding into transdermal and respiratory products. A fire temporarily halted operations at the Kakinada Pen-G facility, which had shown strong yields. Aurobindo has applied for regulatory renewal and expects quick resumption, underscoring its focus on compliance and resilience.

• Outlook: Aurobindo Pharma’s management remains optimistic about sustaining its growth trajectory in FY26, building on the strong performance of FY25. The company targets a high single-digit revenue growth for FY26, excluding transient products, with expectations of continued momentum in key markets such as Europe and North America. Management also aims to maintain EBITDA margins at current levels of ~21%, supported by a favourable product mix, stable raw material prices, and improved operating efficiencies.

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