Sanjivani Parenteral Limited (BSE: 531569), a manufacturer of parenteral and oral solid dosage formulations across therapeutic areas including CNS, cardiovascular, anti-diabetics, anti-infectives and gastroenterology, reported a 37.8% year-on-year rise in standalone net profit for the third quarter ended December 31, 2025, driven by strong export demand and improved operating leverage in its injectables business.
The company operates manufacturing plants in Navi Mumbai and Dehradun, along with an IV facility in Pune and a European presence in Prague through Alevia Healthcare. It exports to 25 countries, with nearly 75% of revenue derived from international markets.
Market Capitalization & Stock Performance
As of Dec. 31, 2025, Sanjivani Parenteral Limited had a market capitalisation of INR 2.8 billion, with its shares trading at INR 231 on the BSE. The stock has moved between INR 182 and INR 383 over the past 52 weeks. Promoters hold a 31% stake, while retail investors account for 37%. Institutions own 6%, high net-worth individuals 19%, and corporate bodies 8%
Financial Performance – Q3FY26 & 9MFY26
- Revenue from operations rose 20.3% to INR 208.6 million in Q3 FY26.
- EBITDA increased 35.7% to INR 38.8 million, with margin expanding 216 basis points to 18.4%.
- Profit after tax stood at INR 26.2 million.
- For the nine months ended December 31, revenue grew 4.5% year-on-year to INR 542.5 million.
- Net profit rose 1.3% to INR 59.9 million, while EBITDA increased 5.3% to INR 89.8 million, with margins steady at 16.4%.
Segment and Product Mix
- Injectables contributed 55.9% of Q3 FY26 revenue, tablets accounted for 41.4%, and nutraceuticals made up 2.7%.
- Segment-wise, injectables remain the primary growth driver, supported by expanded production capabilities and regulatory compliance certifications including WHO-GMP.
Geographical Revenue Mix
- Exports accounted for 76.9% of Q3 revenue and 77.2% of nine-month revenue.
- Regionally, Middle East & Africa contributed 46.7% in Q3 FY26, Latin America 28.8%, India & subcontinent 23.1%, and CIS countries 1.3%.
Manufacturing Capacity & Certifications
The company has annual capacity of:
- 84 million ampoules
- 48 million vials
- 12 million liquid injectables
- 720 million tablets
- 180 million beta-lactam capsules
- 72 million capsules
Facilities are certified by WHO-GMP and other global regulators, enabling export-focused growth.
Strategic Developments & Milestones
- Joint venture with Alevia Healthcare S.R.O., Prague (May 2023), with commercial batches underway.
- Joint venture with Hindustan Antibiotics Ltd (August 2023).
- Expansion of product portfolio beyond 100 products.
- Strengthening of CDMO partnerships across injectables and oral segments.
Management has outlined long-term growth drivers including product expansion, new geographies, therapeutic diversification and strategic collaborations.
Industry Outlook
According to IQVIA data, global medicine usage is projected to reach 3,778 billion defined daily doses by 2028, with India and China among the fastest-growing markets. Rising global demand for generics supports export-oriented manufacturers.
Key Takeaway
Strong Q3 margin expansion and export-led revenue growth signal improving operating efficiency. While nine-month growth remains moderate, the company’s injectables focus, global footprint and strategic partnerships position it to benefit from rising international generic demand.