Alivus Life Sciences Limited (ALIVUS)
📢 Recent Corporate Announcements
Alivus Life Sciences Limited (formerly Glenmark Life Sciences) concluded its 15th Annual General Meeting on September 8, 2026. Shareholders approved all four ordinary resolutions with requisite majority, including the adoption of FY26 financial statements and declaration of a final dividend of Rs 5 per equity share. The dividend resolution passed with 99.09% favorable votes across 106,618,044 votes polled (86.84% turnout). Additionally, the reappointment of Director Mr. Hiren Patel and ratification of Cost Auditor remuneration were approved.
- Final dividend of Rs 5 per equity share for FY 2025-26 approved by shareholders
- Shareholder voting turnout reached 86.84% with 106,618,044 votes polled out of 122,771,448 total shares
- Dividend resolution passed with 99.0941% votes in favor and 0.9059% votes against
- Adoption of FY26 audited accounts approved with 99.9999% votes in favor
Alivus Life Sciences Limited (formerly Glenmark Life Sciences Limited) has notified exchanges regarding scheduled meetings with institutional investors and mutual funds. The interactions will take place in-person in Mumbai on September 10 and September 11, 2026, comprising both group and one-on-one formats. No unpublished price sensitive information or material financial developments were disclosed in this intimation.
- Institutional/Analyst meetings scheduled for September 10, 2026 and September 11, 2026
- Mode of meeting is in-person in Mumbai with various Mutual Funds and Institutions
- Meeting format covers Group and One-on-One interactions
- Filing submitted under Regulation 30 of SEBI LODR Regulations
Alivus Life Sciences Limited (formerly Glenmark Life Sciences Limited) has announced a schedule of one-on-one institutional investor meetings in Mumbai on September 9, 2026. The company is scheduled to meet four institutions: Breakout Capital, UTI, Kotak Mutual Fund, and Param Capital in an in-person format. This is a routine regulatory intimation under Regulation 30 of SEBI (LODR) Regulations, 2015, and does not disclose any price-sensitive or financial material.
- One-on-one investor meetings scheduled for September 9, 2026 in Mumbai
- Scheduled participants include Breakout Capital, UTI, Kotak Mutual Fund, and Param Capital
- All meetings to be conducted in-person mode
Alivus Life Sciences Limited has informed the exchanges regarding upcoming one-on-one interactions with institutional investors and analysts scheduled between August 28 and September 2, 2026. The roster includes virtual meetings with Mirae Asset (US) on August 28 and Lyptus Capital on September 2, alongside in-person meetings in Mumbai with Emkay Global and SIMPL on September 1. These disclosures are part of standard compliance requirements under Regulation 30 of SEBI LODR Regulations.
- Virtual one-on-one meeting scheduled with Mirae Asset (US) on August 28, 2026
- In-person one-on-one meetings in Mumbai with Emkay Global and SIMPL on September 1, 2026
- Virtual one-on-one interaction scheduled with Lyptus Capital on September 2, 2026
- Intimation filed pursuant to Regulation 30 and Part A of Schedule III of SEBI LODR
Alivus Life Sciences has announced the acquisition of a 76% majority stake in IQGenX Pharma Private Limited for a consideration of ₹9.12 crore (INR 91.2 million). Founded in October 2016, IQGenX is a CRO specializing in formulation development for oral solids, sterile injectables, and ophthalmic solutions across regulated markets. The acquisition enhances Alivus's CDMO service offerings by adding end-to-end capabilities from API synthesis to formulation development, bioequivalence, and regulatory filings. The transaction is subject to customary closing conditions and is expected to close by the end of calendar year 2026.
- Acquisition of 76% equity stake in IQGenX Pharma for ₹91.2 million (₹9.12 crore)
- Target is a CRO established in October 2016 focusing on oral solids, sterile injectables, and ophthalmics
- Expands Alivus's CDMO capabilities into pre-formulation, clinical supplies, and regulatory dossier filings
- Transaction expected to close by the end of calendar year 2026
Alivus Life Sciences has approved the acquisition of a 76% stake in IQGEN-X Pharma Private Limited for an aggregate cash consideration of approximately ₹9.12 crore. IQGEN-X operates in formulation development for oral solids, sterile injectables, and ophthalmic solutions, reporting FY26 revenue of ₹3.48 crore. The transaction aims to provide end-to-end API and CDMO capabilities and is scheduled to close by December 6, 2026. Given Alivus's quarterly revenue base exceeding ₹670 crore, this is a minor capability-focused bolt-on acquisition with negligible near-term financial impact.
- Board approved acquisition of 76% equity stake (8,60,589 shares) in IQGEN-X Pharma for ~₹9.12 crore in cash.
- Target entity reported FY26 turnover of ₹348.0 lakh, compared to ₹318.2 lakh in FY25 and ₹267.5 lakh in FY24.
- Transaction completion target is December 6, 2026; includes a fallback Business Transfer Agreement structure if conditions are unmet.
- Acquisition adds formulation development capabilities in sterile injectables, oral solids, and ophthalmics to Alivus's CDMO suite.
Alivus Life Sciences (formerly Glenmark Life Sciences) has scheduled one-on-one meetings with four institutional investors, including Green Lantern Capital and Karma Capital, on August 18 and 19, 2026. These meetings come as the company targets high single-digit revenue growth and manages a recovery in its GPL business, which recently saw a 23.9% YoY segment decline. With a strong net worth of Rs 3,333 Cr and a low debt-to-equity ratio of 0.02, the company is focusing on its CDMO ramp-up and Japan market launches. Investors should note that these are routine interactions and typically do not involve the disclosure of unpublished price-sensitive information.
- 4 institutional investors/analysts scheduled for one-on-one meetings on August 18 and 19, 2026
- Participating entities include Green Lantern Capital, SIMPL, Burman Capital, and Karma Capital
- 3 meetings are scheduled to be in-person in Mumbai, with 1 virtual session
- Company reported a quarterly net profit of Rs 150.26 Cr for the period ending December 2025
- Promoter holding remains stable at 74.87% as of March 2026
Alivus Life Sciences (formerly Glenmark Life Sciences) has released its Business Responsibility & Sustainability Report (BRSR) for FY 2025-26. The company reported a total turnover of ₹2,551.8 crore, with 100% of revenue derived from the API segment. Exports remain a significant driver, accounting for 54.4% of total turnover across 75+ countries. The company is currently expanding its footprint with a new manufacturing site under construction at Chincholi, adding to its existing 4 operational plants.
- Reported annual turnover of ₹2,551.8 crore for the financial year 2025-26
- Exports contributed 54.4% of total revenue, serving a global base of 700+ clients
- Net worth stood at ₹3,332.1 crore as of March 31, 2026
- Permanent employee turnover rate recorded at 21.63% for the fiscal year
- One new manufacturing site at Chincholi is currently under construction to bolster capacity
Alivus Life Sciences (formerly Glenmark Life Sciences) has issued a notice for its 15th Annual General Meeting (AGM) to be held on September 8, 2026. The board has recommended a final dividend of ₹5 per equity share (250% of the ₹2 face value) for FY 2025-26, subject to shareholder approval. The cut-off date for determining dividend and e-voting eligibility is September 1, 2026. Other agenda items include the re-appointment of Chairman Mr. Hiren Patel and ratification of cost auditor remuneration of ₹0.50 million.
- Final dividend of ₹5 per equity share recommended for the financial year ended March 31, 2026.
- 15th Annual General Meeting scheduled for September 8, 2026, at 3:00 PM IST via video conferencing.
- Cut-off date for e-voting and dividend eligibility set for September 1, 2026.
- Proposed remuneration of ₹0.50 million plus taxes for Cost Auditors Kirit Mehta & Co. LLP for FY 2026-27.
- Re-appointment of Mr. Hiren Patel as a Non-Executive Director, who attended 3 out of 4 board meetings in FY 2025-26.
Alivus Life Sciences (formerly Glenmark Life Sciences) has scheduled a one-on-one in-person meeting with SBI Mutual Fund on August 12, 2026, in Mumbai. This interaction comes as the company maintains a strong ROCE of 25.0% and a low debt-to-equity ratio of 0.02. The company is currently focusing on expanding its high-potent API portfolio, which targets a $66 billion addressable market. While routine, such meetings indicate continued institutional interest in the company's CDMO and regulated market expansion strategies.
- One-on-one in-person meeting scheduled for August 12, 2026, in Mumbai.
- Interaction is specifically with SBI Mutual Fund, a major institutional investor.
- Company reports a robust ROCE of 25.0% and a net worth of ₹3,333 Cr.
- Promoter holding remains high at 74.87% as of March 2026.
- Company is targeting a $66 billion addressable market with 26 products in its high-potent API grid.
Alivus reported Q1 FY27 revenue of ₹640 cr, up 6.4% YoY, despite a sharp 52.6% decline in the Glenmark Pharma (GPL) segment due to inventory rationalization. The non-GPL business grew 26.5% YoY, demonstrating successful revenue diversification. Profitability saw a significant boost with EBITDA margins expanding 650 bps to 36.6% and PAT reaching ₹160 cr. Management has guided for 10-12% revenue growth for FY27, backed by a ₹540 cr capex plan and the Solapur plant becoming operational in Q3 FY27.
- Non-GPL business grew 26.5% YoY, effectively offsetting a 52.6% decline in the GPL segment.
- Gross margins expanded by 510 bps to 60.2% driven by new launches and operational efficiencies.
- Planned FY27 capex of ₹540 cr represents approximately 16.2% of the company's ₹3,333 cr net worth.
- High-potent API portfolio expanded to 29 products with a total addressable market of $82 billion.
- Company remains debt-free with cash and short-term investments totaling ₹880 cr as of June 30, 2026.
Alivus Life Sciences reported Q1 FY27 revenue of Rs 640 crore, a 6.4% YoY increase, driven by a robust 26.5% growth in the non-GPL business. This growth successfully offset a sharp 52.6% decline in the Glenmark Pharma (GPL) segment caused by inventory rationalization. Profitability saw a significant boost with gross margins reaching 60.2% and EBITDA margins at 36.6%, supported by new launches and operational efficiencies. Management has guided for 10-12% revenue growth for FY27 and a substantial capex of Rs 540 crore, focusing on the Solapur facility and a new R&D center.
- Non-GPL business grew 26.5% YoY, significantly reducing dependency on the GPL segment which fell 52.6%.
- Gross margins expanded by 510 bps YoY to 60.2% due to a favorable product mix and process improvements.
- EBITDA margins reached 36.6%, although management maintains a conservative full-year guidance of 30-32% due to geopolitical risks.
- Planned FY27 capex of Rs 540 crore represents approximately 16.2% of the company's Rs 3,333 crore net worth.
- High-potent API portfolio expanded to 29 products with a total addressable market of $82 billion, with 13 products already validated.
Alivus Life Sciences has fixed September 1, 2026, as the record date for a final dividend of ₹5.00 per equity share for FY 2025-26. This follows the board's recommendation made on May 14, 2026, and is subject to shareholder approval at the upcoming 15th Annual General Meeting (AGM) on September 8, 2026. The dividend represents a 250% payout on the face value of ₹2 per share. Eligible shareholders can expect payment to commence on or after September 11, 2026.
- Final dividend of ₹5.00 per equity share recommended for the financial year ended March 31, 2026
- Record date for determining dividend eligibility fixed for Tuesday, September 1, 2026
- 15th Annual General Meeting (AGM) scheduled for September 8, 2026, via video conferencing
- Dividend payment to be processed on or after September 11, 2026, post-shareholder approval
- Dividend yield is approximately 0.37% based on the current market price of ₹1337.9
Alivus Life Sciences (formerly Glenmark Life Sciences) has scheduled its 15th Annual General Meeting (AGM) for September 8, 2026. The company confirmed a final dividend of Rs 5.00 per equity share (250% of face value) for FY26, as previously recommended by the board. The record date for dividend entitlement is fixed for September 1, 2026, with payments starting from September 11, 2026. The company maintains a robust financial position with a 25% ROCE and a very low Debt/Equity ratio of 0.02.
- Final dividend of Rs 5.00 per equity share of Rs 2 each recommended for FY26
- Record date for dividend eligibility fixed as September 1, 2026
- 15th Annual General Meeting scheduled for September 8, 2026, via video conferencing
- Dividend payment to commence on or after September 11, 2026, subject to shareholder approval
- Company maintains a high ROCE of 25.0% and a low Debt/Equity ratio of 0.02
Alivus Life Sciences (formerly Glenmark Life Sciences) has released the audio recording of its Q1 FY2027 earnings call held on July 31, 2026. This is a procedural disclosure following the quarterly results. Investors can access the recording to hear management's commentary on the 9% expected growth rate and the progress of CDMO projects. The company maintains a strong financial profile with a 25.0% ROCE and a low debt-to-equity ratio of 0.02.
- Earnings call for Q1 FY2027 conducted on July 31, 2026
- Company maintains a high ROCE of 25.0% and low D/E of 0.02
- Regulated markets continue to contribute 81% of total revenue
- Glenmark Pharma (GPL) remains a significant client with 24.4% revenue contribution
- Management targeting a high single-digit revenue expansion of 9%
Financial Performance
Revenue Growth by Segment
Overall revenue grew 16% YoY to INR 588 Cr in Q2 FY26. Non-GPL business grew 39.7% YoY to INR 444.3 Cr, while the GPL (Glenmark Pharma) segment declined 23.9% YoY to INR 143.7 Cr due to inventory rationalization. Generic API revenues grew 15.3% YoY and CDMO revenues grew 15.8% YoY.
Geographic Revenue Split
Regulated markets contributed 81% of total revenue in Q2 FY26, driven by robust performance in the Non-GPL business across LATAM, Japan, and Europe. Emerging markets and ROW also contributed to broad-based growth.
Profitability Margins
Gross margins stood at 57.7% in Q2 FY26, up 210 bps YoY. PAT margins were 22.1%, up 330 bps YoY. H1 FY26 PAT stood at INR 252 Cr with a 21% margin.
EBITDA Margin
EBITDA margin for Q2 FY26 was 33%, an improvement of 480 bps YoY, driven by a better product mix and successful new launches. EBITDA reached INR 194 Cr, up 35.7% YoY.
Capital Expenditure
The company has a Board-approved capex of INR 600 Cr, including a carryover of INR 190 Cr for FY25. Capex for H1 FY26 was INR 11.3 Cr (INR 113 Mn), with INR 6.1 Cr (INR 61 Mn) spent in Q2.
Credit Rating & Borrowing
The company remains net debt-free with cash and cash equivalents (including short-term investments) of INR 652.6 Cr as of September 30, 2025.
Operational Drivers
Raw Materials
Not specifically disclosed by name, but described as a 'benign environment' where raw material prices have declined alongside finished good prices.
Capacity Expansion
Capacity expansion initiatives are progressing at Solapur, Ankleshwar, and Dahej. Asset turnover ratio is currently 2.4 times, trending slightly lower due to the ongoing capex cycle.
Raw Material Costs
Raw material costs have decreased, contributing to gross margin expansion of 210 bps YoY to 57.7%. The company manages downward pricing pressure on mature APIs through volume increases and lower input costs.
Manufacturing Efficiency
Asset turnover is 2.4x. Efficiency is reinforced by a robust pipeline of new launches and operational improvements, sustaining margins at 30% despite the absence of PLI benefits.
Strategic Growth
Expected Growth Rate
9%
Growth Strategy
Growth will be achieved through high single-digit revenue expansion driven by a stronger H2 performance, recovery in the GPL business, ramp-up of CDMO projects, and a steady launch of 4 new molecules per year in the Japan market.
Products & Services
Active Pharmaceutical Ingredients (APIs) for CVS, CNS, and Chronic therapies, along with CDMO services for NCE-1 opportunities.
Brand Portfolio
ALIVUS (formerly Glenmark Life Sciences Limited).
New Products/Services
The high potent API portfolio has 26 products in the active grid with a $66 billion addressable market; 10 products are already validated.
Market Expansion
Targeting regulated markets (81% of revenue) with specific focus on Japan, LATAM, and Europe through new product launches.
Strategic Alliances
Ramping up CDMO projects with various partners to drive overall business growth.
External Factors
Industry Trends
The industry is shifting toward patient-centric models, sustainability, and technology adoption. Innovation and government support are key drivers despite rising regulatory pressures.
Competitive Landscape
Increasing competition in the global pharmaceutical industry and pricing pressure on mature molecules.
Competitive Moat
Moat is built on high talent intensity (2,200 employees) and USFDA-inspected manufacturing sites (Ankleshwar, Dahej, Mohol) which allow access to regulated markets.
Macro Economic Sensitivity
Sensitive to global pharmaceutical demand and pricing environments for commoditized APIs. Benign pricing environments require volume growth to sustain absolute profitability.
Consumer Behavior
Strong demand for chronic therapies, which contributed 69% to the top line in Q2 FY26.
Geopolitical Risks
Subject to changes in political conditions in India and abroad, as well as foreign exchange control regulations.
Regulatory & Governance
Industry Regulations
Strict adherence to USFDA standards. Ankleshwar facility received one 483 observation in January 2025 (resolved with VAI status); Dahej had zero observations in May 2025 (NAI status).
Environmental Compliance
Sustainability is noted as an industry trend the company is monitoring.
Taxation Policy Impact
Not specifically disclosed, though PAT margins are maintained at 22.1%.
Legal Contingencies
One USFDA 483 observation at the Ankleshwar facility was answered and resolved with an EIR (Establishment Inspection Report).
Risk Analysis
Key Uncertainties
Inventory rationalization by key customers (GPL) and the timing of cash flow deployment for capex projects like Solapur.
Geographic Concentration Risk
High concentration in regulated markets (81% of revenue).
Third Party Dependencies
Significant dependency on Glenmark Pharma (GPL), which accounts for 24.4% of revenue.
Technology Obsolescence Risk
Managed through R&D investment (3.7% of sales) and a development grid of 26 high potent API products.
Credit & Counterparty Risk
Strong free cash flow generation of INR 147.7 Cr in Q2 FY26 indicates high receivables quality and liquidity.
