OneSource Specialty Pharma Limited is a pure-play specialty pharmaceutical CDMO developing and manufacturing biologics, drug-device combinations, sterile injectables, and soft-gelatin capsules for global pharmaceutical and biotechnology customers. Its end-to-end offering spans development, clinical supply, commercial manufacturing, drug substance, drug product, devices, packaging, and cold-chain logistics across five regulatory-approved facilities. Q2FY27 marked a strong acceleration, with revenue rising 37% year on year to ₹5,162 million and EBITDA increasing 53% to ₹1,633 million. EBITDA margin expanded to 31.6%, supported by operating leverage, higher volumes, new DDC capacity, 12 launches, and execution of master service agreements across the company’s business segments. The company’s second cartridge line is now commercial, while line three has completed factory acceptance testing. Management expects DDC capacity to triple by FY28, creating a substantial runway for GLP-1 and other drug-device combination launches, with the second half expected to benefit from new launches and a meaningful commercial-volume ramp-up. Biologics momentum is broadening through a new US partner, European biosimilar customer Formycon, and repeat work from a top-three global animal-health company. The record RFP funnel spans innovators, biosimilars, and animal health, while 82-plus global customers and 75-plus active RFPs indicate a diversified opportunity set rather than reliance on a single program. OneSource Specialty Pharma Limited reaffirmed an ambitious FY28 organic revenue target of $400 million and EBITDA target of $160 million, equivalent to roughly 40% steady-state EBITDA margin. The outlook depends on converting biologics opportunities, scaling DDC capacity, expanding sterile and soft-gelatin capabilities, and sustaining execution across multiple geographic markets.