Onesource Specialty Pharma Ltd.Q2 revenue +37%, EBITDA +53%, margin 32%

OneSource Specialty Pharma's Q2 FY27 call, held on 27 October 2026, reported revenue growth of 37% on the year and 15% on the quarter to more than ₹500 crore, its third straight quarter of sequential growth.

EBITDA grew 53% on the year and 32% on the quarter, and the margin rose by more than 400 basis points to 32%. The second drug-device cartridge line began running commercial batches in September and doubled annual sterile production days, while the third line has completed factory acceptance testing and is on site awaiting qualification, with commercial start possibly pushed to the start of FY28. Hikma launched the first generic semaglutide in Saudi Arabia, Dr. Reddy's API supplies have resumed, and biologics won new projects from a US biotech and an animal health company.

Management expects the second half to be stronger than the first and reaffirmed FY28 targets of $400 million revenue and $160 million reported EBITDA. Delayed shipments are stretching working capital by 45 to 60 days, which the CFO calls temporary, and debt should stay under 1.5 times EBITDA.