Windlas Biotech Ltd
NSE:WINDLAS
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Windlas Biotech Ltd
Windlas Biotech Ltd. operates as a contract development and manufacturing organization (CDMO). The firm provides a range of contract development and manufacturing organization (CDMO) services ranging from product discovery, product development, licensing and commercial manufacturing of generic products, including complex generics. Its therapeutic categories, such as, anti-diabetic, cardiovascular, neuropsychiatry and respiratory therapies. The Company’s service capabilities include formulation development, technology scale-up and full-scale commercial manufacturing. The company has capabilities for both solid and liquid pharmaceutical dosage forms. The Company’s market its own manufactured nutraceutical, pharmaceutical and ayurvedic products to serve the semi-urban and rural communities. The company also has a salesforce and distribution network spread across over 14 states. The Company’s manufacturing facilities are located at Dehradun in Uttarakhand.
Windlas Biotech Ltd. operates as a contract development and manufacturing organization (CDMO). The firm provides a range of contract development and manufacturing organization (CDMO) services ranging from product discovery, product development, licensing and commercial manufacturing of generic products, including complex generics. Its therapeutic categories, such as, anti-diabetic, cardiovascular, neuropsychiatry and respiratory therapies. The Company’s service capabilities include formulation development, technology scale-up and full-scale commercial manufacturing. The company has capabilities for both solid and liquid pharmaceutical dosage forms. The Company’s market its own manufactured nutraceutical, pharmaceutical and ayurvedic products to serve the semi-urban and rural communities. The company also has a salesforce and distribution network spread across over 14 states. The Company’s manufacturing facilities are located at Dehradun in Uttarakhand.
Revenue Growth: Windlas Biotech reported 19% year-on-year revenue growth for both Q2 and H1 FY '26, with revenue from operations at INR 222 crores for the quarter and INR 432 crores for the half year.
Margin Expansion: Gross margin improved by 68 bps YoY in Q2 and 70 bps in H1 FY '26, driven by favorable business mix and scale.
Profitability: Earnings per share for H1 FY '26 was INR 16.91, up 21% YoY; Q2 EBITDA was INR 29 crores and PAT was INR 18 crores.
ESOP Scheme: The company implemented a new ESOP scheme covering around 100 key employees, with an ESOP expense impact of INR 12 million in Q2; management emphasized retention and performance alignment.
Business Vertical Performance: All three business verticals (CDMO, Trade Generics & Institutional, Exports) posted double-digit growth, with Trade Generics & Institutional business leading at 24-25% YoY growth.
Manufacturing Capacity: Plant-2 extension is now fully operational; Plant-6 expansion is on track; injectable facility is ramping up, though slightly behind initial timeline expectations.
Liquidity: Liquidity position improved to INR 237 crores, with net operating cash flow of INR 56 crores.
Guidance: No specific future growth or margin guidance was given; management remains optimistic but refrained from setting timelines.
