Biocon Q4 Results Preview: Top line seen rising 2%, margin may slide by 300 bps—What investors can expect

Biocon Q4 FY26 Results Preview: Bengaluru-headquartered biopharmaceutical firm Biocon is set to report its financial results on Thursday, May 7. Analysts expect the company to stage a mixed financial performance for the final three months of FY26, with a 300-basis-point year-on-year slide in its margin.

Biocon Results Due on May 7: Key headline number expectations

According to Zee Business research, Biocon is estimated to register a consolidated adjusted net profit of Rs 215 crore for the quarter ended March 31, which translates to a fall of 34 per cent over the corresponding period a year ago.

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Its revenue is estimated to grow 2.3 per cent on a year-on-year basis to Rs 4,518 crore, according to the research.

Biocon Q4 Earnings: Operational performance

The Bengaluru-based firm is expected to post weak operating numbers.

The analysts expect a 12 per cent fall in its March-quarter earnings before interest, taxes, depreciation and amortisation (EBITDA) to Rs 946 crore. For the final quarter of FY25, its EBITDA was recorded at Rs 1,078 crore.

The company's quarterly margin is pegged at 21 per cent, versus 24 per cent a year ago. Margin is a key measure of a company's profitability.

Key things to watch out for

According to the estimates, the company's US business is seen registering a decline of 4-6 per cent.

Analysts expect its biosimilars business to witness a rise of 8-10 per cent, and its APIs and generic formulations unit to take a hit of 10-15 per cent.

Its contract research, development, and manufacturing organisation (CRDMO) business is expected to remain flat in the March quarter.

Biocon Q3 FY26 Earnings

For the October-December period, the company had staged an operationally good performance, with a 67.5 per cent rise in its EBITDA to Rs 534 crore and a 600 basis-point surge in its margin.

Its net profit grew 5.7 times to Rs 143 crore and revenue increased 12.4 per cent to Rs 3,211 crore. Both headline numbers missed Street estimates.

According to Zee Business estimated, the numbers were pegged at Rs 178 crore and Rs 4,515 crore, respectively.

Revenue mix

Biocon earns much of its revenue from its biosimilars business.

In the December quarter, the company's revenue in this segment grew 9 per cent to Rs 2,497 crore. Revenue from its generics and CRDMO units stood at Rs 851 crore and Rs 917 crore, up 24 per cent and down 3 per cent, respectively.

For the quarter, biosimilars contributed 59 per cent to its overall revenue, while the contribution of its generics and CRDMO units stood at 20 per cent and 21 per cent, respectively.

Biocon shares vs Nifty 50 vs Nifty Pharma

At Wednesday's levels, Biocon shares have declined about 1.5 per cent for the year, better than the Nifty 50's 6.9 per cent fall.

However, the stock has risen about 12 per cent in a year while the headline index has remained flat.