Wockhardt Q4 FY26 profit at Rs 164 cr lifts stock

Stock reaction after March-quarter results

Wockhardt shares jumped sharply after the company reported a profit turnaround for the quarter ended March 31, 2026. The stock was reported up as much as 10% in early trade on May 5, and at around 9:35 am it was trading about 8% higher at Rs 1,540.8 apiece. Another market update put the move at about 8.03% to around Rs 1,540 following the results announcement. The rally came even as broader benchmarks were reported weaker during the session.

Q4 FY26: Profit turns positive, revenue rises 30% YoY

On a consolidated basis, Wockhardt reported profit after tax (PAT) of Rs 164 crore in Q4 FY26, reversing a loss of Rs 45 crore in Q4 FY25. PAT also rose 168.85% quarter-on-quarter from Rs 61 crore in Q3 FY26. Revenue from operations increased 29.87% year-on-year to Rs 965 crore, and was up 8.67% from Rs 888 crore in the preceding quarter. Profit before tax (PBT) stood at Rs 189 crore, compared with a loss of Rs 22 crore in the year-ago quarter, and rose 182.09% QoQ from Rs 67 crore.

Expenses and operating performance

The company said total expenses in the fourth quarter rose to Rs 843 crore from Rs 780 crore a year earlier. Despite higher expenses, operating performance strengthened. EBITDA for Q4 FY26 was reported at Rs 196 crore, up 147% from Rs 79 crore in Q4 FY25 and up 13.29% from Rs 173 crore in Q3 FY26. EBITDA margin was 20.3% in Q4 FY26 versus 10.7% a year ago and 19.5% in the previous quarter.

What drove the turnaround: scale and cost discipline

The company attributed improved profitability to higher scale in emerging markets and disciplined cost control, while noting that R&D investments remained steady. It also disclosed that exceptional items largely netted out at the full-year level. For Q4, an exceptional charge of Rs 22 crore was cited in the coverage. For FY26, results benefited from a credit linked to settlement proceeds from Dr Reddy’s Laboratories, which partly offset restructuring and regulatory-related charges booked earlier in the year.

Regional performance: Emerging markets lead growth

Operational momentum was described as broad-based across key regions in the March quarter. India business rose 18% year-on-year to Rs 112 crore. The UK business grew 20% year-on-year to Rs 349 crore. Emerging markets showed the strongest expansion, up 124% year-on-year to Rs 320 crore. Ireland business increased 12% year-on-year to Rs 52 crore.

Biotech contribution and portfolio focus

Biotech operations were highlighted as a key growth driver. Q4 biotech revenue was Rs 252 crore, up 126% year-on-year. For the full year, biotech operations delivered Rs 697 crore, reflecting 27% growth. The coverage also linked the quarter’s performance to strong traction in an insulin-led biotech portfolio and expanding insulin partnerships in emerging markets.

Full-year FY26: First profit in recent years

For FY26, Wockhardt reported consolidated PAT of Rs 199 crore, compared with a loss of Rs 57 crore in FY25. Revenue from operations for FY26 was reported at Rs 3,373 crore, up from Rs 3,033 crore in the previous year in one set of figures, and at Rs 3,373 crore versus Rs 3,012 crore in another report. EBITDA for FY26 increased 51% to Rs 630 crore from Rs 418 crore, and EBITDA margin expanded to 18.7% from 13.8%. Annual PBT was reported at Rs 238 crore in FY26, compared with a loss of Rs 16 crore in FY25, and annual PAT margin was 5.9% versus -1.9%.

Corporate actions and pipeline updates in focus

Separately, the board approved fundraising via equity or convertible securities, as noted in the coverage alongside the results reaction. The company was also reported to have pipeline milestones, including five new antibiotics passing Phase 3 and Miqnaf launching in India. Another update cited that the EMA granted Accelerated Assessment for Zaynich®.

Key numbers at a glance

Regional revenue snapshot (Q4 FY26)

Market context and stock levels

The stock’s move came amid mixed market conditions on the day, with one live update noting a decline in headline indices even as Wockhardt rose post-results. The coverage also noted the stock had gained about 13% over the past month and was trading between a 52-week high of Rs 1,868.80 and a 52-week low of Rs 1,086.70.

Company profile

Wockhardt is described as a research-based global pharmaceutical and biotech company. It employs around 3,200 people and has 27 nationalities, with presence across the UK, Ireland, Switzerland, France, Mexico, Russia and other countries.

Conclusion

Wockhardt’s March-quarter print showed a clear improvement in earnings, supported by higher revenue, a stronger EBITDA profile, and sharp growth in emerging markets and biotech. Investors will track how the company executes on its biotech-led growth drivers, pipeline milestones, and the board-approved fundraising plan as the next steps unfold.