Morepen Q1 FY27: Commercial CDMO Supplies Start to Show Up in the Numbers

Revenue was Rs. 575.31 Cr (up 34% YoY), EBITDA was Rs. 87.72 Cr (up 207% YoY) with a 15.25% margin, and PAT was Rs. 56.35 Cr (up 394% YoY).

The company stated a CDMO mandate of Rs. 825 Cr that entered full scale commercialisation in Q1 FY27.

The company reported Rs. 58 Cr of commercial CDMO dispatches completed in Q1 FY27.

Export revenue was reported up 111% YoY, and API exports were reported up 42% YoY.

The roadmap shows capacity at 535 KL in Q4 FY26, targeted to increase to 600 KL in Q2 FY27, 800 KL in Q2 FY28, 1,000 KL in FY29, and 1,200 KL by FY30.

Morepen stated it completed four consecutive USFDA inspections with Nil Form 483 observations.

Medical devices grew 19% in Q1 FY27. The company reported an installed base of 20 million blood glucose meters and annual scale of 500 million strips, supporting recurring consumables revenue.