Wockhardt completes a sharp turnaround in FY26, swinging back to profitability after years of losses on the back of strong revenue growth, and revival in its biotech and emerging markets business.
The drugmaker reported a net profit of Rs 164 crore in Q4FY26, reversing a loss of Rs 45 crore a year ago, aided by a 30 percent year-on-year (YoY) rise in revenue to Rs 965 crore, sharp improvement in margins and strong traction in its insulin-led biotech portfolio.
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.
For the full year, Wockhardt reported 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 year-on-year to Rs 3,373 crore. 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.
Geography-wise performance
India branded business reported revenue of Rs 523 crore in FY26, up 15 percent YoY, supported by diabetic therapies, its NCE brand Emrok, and the addition of a regenerative dermatology segment.
UK operations delivered Rs 1,318 crore, growing 13 percent, reflecting steady momentum in the company’s European franchise. Ireland revenue rose 16 percent to Rs 209 crore.
Emerging markets were the standout, with revenue surging 35 percent to Rs 958 crore, led by strong demand for biotech insulin products and rising traction in Latin America.
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.
Innovation and pipeline update
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.
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.
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