Windlas Biotech FY26: Revenue ₹904 cr, dividend ₹6.3

Registered office and investor contact

Windlas Biotech’s registered office is at 40/1, Mohabewala Industrial Area, Dehradun, Uttarakhand, 248110. The company’s listed contact numbers in the material include 0135-6608000 and 0135-6608199. Investor grievance communication is referenced through the email address grievance@windlasbiotech.com. These details were included alongside the company’s corporate filings and investor communications shared with the market.

What the FY26 earnings communication highlighted

In its communication around results for the quarter and full year ended 31 March 2026, Windlas Biotech pointed to continued momentum despite a moderate industry backdrop. The company referenced Indian pharma market volume growth of 2.7% in FY26. Against this, Windlas reported FY26 revenue growth of 19% year on year to ₹904 crore.

For Q4 FY26, the company reported revenue of ₹238 crore, up 18% year on year. Windlas also stated it extended its record to 13 consecutive quarters of record revenue, indicating consistency across multiple reporting periods. The management commentary positioned the year’s performance as being supported by operating discipline and capital efficiency.

FY26 profitability, EPS, and return metrics

Windlas reported its highest post-listing EPS of ₹31.60 for FY26. It also stated that ROCE and ROE were sustained above the 25% mark during the year. In profit terms, the company disclosed FY26 adjusted EBITDA (referred to as adjusted “AITA” in the material) of ₹121 crore, implying a 13.4% margin.

Reported FY26 EBITDA (AITA) was stated at ₹105 crore, up 11% year on year, after adjusting for ESOP costs described as non-cash in nature. Reported PAT for FY26 was ₹66 crore, up 9%. For Q4 FY26, Windlas disclosed adjusted EBITDA of ₹33 crore (13.6% margin) and PAT of ₹16 crore. Reported Q4 FY26 EBITDA (AITA) was ₹25 crore, with Q4 PAT at ₹16 crore.

Segment-wise performance: CDMO, trade generics, exports

Windlas presented a breakup of revenue performance across key verticals. The generic formulations CDMO vertical delivered revenue of ₹664 crore in FY26 and ₹176 crore in Q4 FY26, reflecting 20% year on year growth as cited. Trade generics and institutional revenue stood at ₹195 crore during FY26, up 13%, with Q4 FY26 revenue at ₹46 crore.

Exports were a faster-growing base in the disclosed numbers. The export vertical revenue grew 40% to ₹46 crore in FY26, while Q4 FY26 export revenue rose 67% year on year to ₹17 crore. The company linked the quarterly volatility in exports to longer lead times associated with export markets.

Cash flows, liquidity, and capital returns

Windlas stated that net operating cash flows for FY26 were ₹105 crore. It closed the year with a net liquidity position of ₹251 crore, as shared in the earnings commentary. The company also referenced completion of a ₹47 crore buyback.

On shareholder payouts, Windlas proposed a dividend of ₹13 crore for FY26, translating to ₹6.30 per share. This aligns with the AGM notice item that sought shareholder approval for a final dividend of ₹6.30 per equity share for FY25-26. The company’s material also stated the dividend would be paid subject to deduction of income tax at source, within 30 days of declaration at the AGM.

Manufacturing and regulatory updates: plants 4, 5 and 6

On operations, Windlas said plant 4 and plant 5, its injectable facility, received a GMP certificate from the Philippines during FY26. The company also stated that plant 6 achieved mechanical completion, and it remains on track for commercialisation by H1 of FY27. These updates matter because injectable capacity and export market readiness typically depend on plant readiness and regulatory clearances.

AGM timeline and dividend record date

The company’s notice stated its 25th Annual General Meeting would be held on 23 July 2026 at 1:00 pm (IST) through video conferencing/other audio-visual means. The deemed venue for the AGM is the registered office in Dehradun. Windlas fixed 16 July 2026 as the record date for determining dividend entitlement for FY26, subject to shareholder approval at the AGM.

Stock reference points mentioned in the material

The material included a stated Windlas share price of ₹871.80 as on 21 July 2026. Separately, another line in the provided text cited a “Current Price” of ₹788. Both figures were present in the source content, suggesting they were referenced from different snapshots or pages of the compiled material.

Key numbers at a glance

Segment revenue snapshot

Why the FY26 update matters for investors

The FY26 disclosures show Windlas combining growth with cash generation and a stated high-return profile, with ROCE and ROE above 25% and EPS at ₹31.60. Segment data indicates CDMO remains the largest contributor by revenue, while exports delivered the fastest growth rate on the numbers provided. The liquidity position and the completed buyback, along with a proposed ₹6.30 per share dividend, collectively point to capital allocation being a central theme in the year-end communication.

Operationally, GMP certification for plants linked to injectables and the mechanical completion of plant 6 are concrete milestones, with commercialisation guided for H1 FY27. For market watchers, the near-term calendar is also clear from the notice: dividend eligibility hinges on the 16 July 2026 record date, and final approval is tied to shareholder voting at the 25th AGM on 23 July 2026.