Q2 FY2026 Concall for ONESOURCE SPECIALTY PHARMA
Opening Remarks:
- The company reaffirmed its FY28 revenue target of $ 500 million, factoring in inorganic growth from acquisitions.
- CAPEX accelerated to support commercialization with expected capacity of over 200 million units ready by end of calendar year 2026.
- Net debt increased primarily due to accelerated capacity expansion investments.
- Strong compliance Record.
Canadian Market:
All customers including Dr. Reddy is facing regulatory approval delay and launch time delay. Onesource not dependent on any particular client or geography, have 20 customers, with more than 9 launching outside Canada.
Reported numbers in the near term may not fully reflect the business opportunities due to pending regulatory and court decisions influencing customer approvals.
CAPEX:
Capacity is fully booked.
Future CAPEX will be outside India, to meet demand beyond current capacity.
Utilization varies with product fill size, changeovers capacity built ahead of anticipated demand. Not all capacity will be used immediately but is needed to meet future market demand.
Pricing varies with volumes.
Demand:
Demand is Huge. All upcoming capacity can be absorbed easily.
Full service offered; 100% customers get fully assembled and packed products. No partial cartridge-only supply.
Company is focused on achieving target of $500 million by FY2028. March 2026 will be interesting time, as GLP-1 drugs go off patent.
Disclosure: Invested