WANBURY - Wanbury
📢 Recent Corporate Announcements
Wanbury Limited has successfully completed a regulatory inspection by the South Korean Ministry of Food and Drug Safety (MFDS) at its Patalganga facility. The three-day inspection, conducted between April 7 and April 9, 2026, concluded with zero observations, confirming full cGMP compliance. This adds to the company's track record of clean inspections, following zero observations from the USFDA for Patalganga and Anvisa for its Tanuku plant. Furthermore, the company is expanding its API manufacturing capacity with a new block in Andhra Pradesh currently under validation.
- Patalganga facility cleared the MFDS (Korea FDA) inspection with zero observations.
- The 3-day regulatory audit was conducted from April 7 to April 9, 2026.
- Both Patalganga and Tanuku sites maintain USFDA compliance with a history of zero observations.
- A new state-of-the-art manufacturing block for APIs is being commercialized at the Andhra Pradesh site.
Wanbury Limited's Secretarial Compliance Report for FY 2025-26 indicates the resolution of several significant past governance lapses. The company has successfully dematerialized 100% of promoter holdings and restored the required board and committee compositions, which previously led to fines exceeding ₹51 lakh. While a minor delay in filing the September 2025 shareholding pattern resulted in a ₹42,480 fine, the company is now largely in compliance with SEBI regulations. This transition suggests an improvement in administrative discipline compared to previous years.
- Paid a fine of ₹42,480 for delayed submission of the shareholding pattern for the quarter ended September 30, 2025.
- Achieved 100% dematerialization of promoter shareholding, resolving a previous deficiency where only 76.74% was in demat form.
- Restored Board of Directors to the required minimum of 6 members and Audit/NRC committees to 3 members by January 2025.
- Settled substantial historical fines including ₹37.99 lakh for board composition and ₹10.57 lakh for NRC composition lapses.
- Confirmed compliance with Secretarial Standards (SS) and all other major SEBI regulations for the review period.
Wanbury Limited has informed the exchanges that its trading window for dealing in company securities will be closed starting April 1, 2026. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the announcement of audited financial results for the quarter and year ending March 31, 2026. The restriction applies to all designated persons, including directors, promoters, and KMPs. The window will remain closed until 48 hours after the financial results are officially declared.
- Trading window closure commences on April 1, 2026.
- Closure is related to the Audited Financial Results for the quarter and year ended March 31, 2026.
- Restriction applies to Directors, KMPs, Promoters, and identified employees of the company and its subsidiaries.
- Window will reopen 48 hours after the declaration of the financial results.
- The specific date for the Board Meeting to approve results will be announced separately.
Wanbury Limited has launched Coriminic CPM Drops and Coriminic NS Nasal Drops to align with recent DCGI regulations restricting fixed-dose cold combinations for children under 4 years. This strategic move allows the company to protect and grow its presence in the ₹861 crore Cold Preparation Liquid market. By introducing standalone formulations that avoid restricted combinations, Wanbury is positioning itself as a first-mover in safer pediatric care. The launch is expected to consolidate the company's market share in the fast-growing pediatric therapeutic segment.
- Launched Coriminic CPM Drops and Coriminic NS Nasal Drops specifically for pediatric use.
- Strategic response to DCGI restrictions on Chlorpheniramine + Phenylephrine combinations for children under 4.
- Targets a significant share of the ₹861 crore Cold Preparation Liquid market in India.
- First-of-its-kind India-focused initiative to reposition Chlorpheniramine in a safer, regulation-aligned format.
- Strengthens the established Coriminic brand portfolio through localized and non-systemic relief options.
Wanbury Limited has received ANVISA approval from Brazil for Sertraline Form II, which complements its existing Form I approval. The company currently holds a dominant 75% market share for Sertraline in Brazil, and this new approval is expected to further consolidate its position. Additionally, the company secured approval from a major customer for a special Metformin DC grade, representing a potential revenue opportunity of Rs 15 crore per annum. Both manufacturing sites in Patalganga and Tanuku remain cGMP compliant, ensuring steady production capabilities.
- Received ANVISA (Brazil) approval for Sertraline Form II to strengthen market dominance.
- Currently holds a 75% market share for Sertraline in the Brazilian market.
- Secured a new Metformin DC grade approval with an estimated Rs 15 crore annual business potential.
- Manufacturing facilities at Patalganga and Tanuku confirmed as cGMP compliant.
- Approval for Form II is expected to further consolidate the company's share of business in Brazil.
Wanbury Limited has successfully executed a major financial turnaround, reducing its peak debt of ₹700 crore by approximately 75% and lowering borrowing costs from 22.5% to 12.5%. The company achieved its highest-ever operational EBITDA of ₹80 crore in FY25, driven by a dominant 30% global market share in Sertraline and 11% in Metformin. The formulations business reached financial break-even in 9MFY26, with a scale-up strategy planned for FY27. Future growth is anchored by a pipeline of four new molecule commercializations annually starting in FY27, supported by a ₹127 crore CAPEX plan for FY26-27.
- Debt reduced by ~75% from peak levels with interest rates slashed from 22.5% to 12.5% effective March 2025.
- Global market leadership established with a 30% share in Sertraline and 11% share in Metformin APIs.
- Formulations segment achieved financial break-even in 9MFY26 after years of turnaround efforts.
- Aggressive CAPEX plan of ₹64 Cr for FY26 and ₹63 Cr for FY27 focusing on new product blocks and clean rooms.
- Operational EBITDA scaled approximately 3X between FY23 and FY25, reaching a record ₹80 crore.
Wanbury Limited has officially released its un-audited financial results for the third quarter and nine-month period ending December 31, 2025 (FY26). The announcement was communicated via a formal press release dated February 6, 2026. This filing is a standard regulatory requirement providing transparency into the company's recent operational performance. Investors should now examine the detailed profit and loss statements to evaluate the company's growth trajectory in the pharmaceutical sector.
- Release of un-audited financial results for the quarter ended December 31, 2025.
- Consolidated and standalone performance for the 9-month (9M) period of FY26 included.
- Official press release issued on February 6, 2026, to provide management context.
- Compliance with SEBI Listing Obligations and Disclosure Requirements confirmed.
Wanbury Limited has announced the grant of 60,000 new stock options to employees at an exercise price of Rs. 130 per share. Concurrently, the company allotted 47,400 equity shares following the exercise of previously vested options under its 2016 ESOP plan. This allotment has increased the total paid-up share capital to Rs. 34.94 crore. The company realized a total of Rs. 4.74 lakh from the exercise of these options.
- Grant of 60,000 stock options at an exercise price of Rs. 130 per share.
- Allotment of 47,400 equity shares of face value Rs. 10 each.
- Total paid-up share capital increased to Rs. 34,93,93,980 from Rs. 34,89,19,980.
- Vesting schedule for new grants spans between 1 to 4 years based on loyalty and performance.
- Realized Rs. 4.74 lakh in cash from the exercise of 47,400 options.
Wanbury Limited has announced the allotment of 47,400 equity shares to employees who exercised their vested options under the WANBURY ESOP 2016 plan. This allotment has increased the company's total paid-up share capital to Rs. 34.94 crore. Simultaneously, the Board has approved a fresh grant of 60,000 stock options at an exercise price of Rs. 130 per share. These new grants are structured with loyalty and performance-based vesting schedules spanning three to four years.
- Allotment of 47,400 equity shares of Rs. 10 face value following ESOP exercise.
- Total paid-up capital increased from 3,48,91,998 to 3,49,39,398 equity shares.
- Grant of 60,000 new stock options at an exercise price of Rs. 130 per share.
- New grants are split into Loyalty (40%) and Performance (60%) components.
- Vesting for new grants ranges from 1 to 4 years from the date of grant.
Wanbury Limited's board met on February 5, 2026, to approve the un-audited financial results for the quarter ended December 31, 2025. The company announced the grant of 60,000 new stock options to employees at an exercise price of ₹130 per share. Additionally, the board approved the allotment of 47,400 equity shares following the exercise of previously vested options, generating ₹4.74 lakh in capital. As a result, the company's total paid-up share capital has increased to ₹34.94 crore.
- Approved un-audited financial results for the third quarter and nine months ended December 31, 2025
- Granted 60,000 new stock options under ESOP 2016 at a pricing formula of 50% of the closing market price (₹130 per share)
- Allotted 47,400 equity shares of face value ₹10 each to employees upon exercise of vested options
- Total paid-up share capital increased from ₹34,89,19,980 to ₹34,93,93,980
- Realized ₹4,74,000 in cash from the exercise of 47,400 options
Wanbury Limited's board met on February 5, 2026, to approve the un-audited financial results for the quarter and nine months ending December 31, 2025. The company announced a fresh grant of 60,000 stock options to employees at an exercise price of Rs. 130 per share. Additionally, the board allotted 47,400 equity shares following the exercise of vested options under the 2016 ESOP plan. This allotment has marginally increased the company's total paid-up share capital to Rs. 34.94 crore.
- Approved un-audited financial results for Q3 and the nine-month period ended December 31, 2025
- Granted 60,000 new ESOPs at an exercise price of Rs. 130 per share, representing 50% of the closing market price
- Allotted 47,400 equity shares of Rs. 10 each, realizing Rs. 4,74,000 from the exercise of options
- Total paid-up share capital increased from Rs. 34,89,19,980 to Rs. 34,93,93,980
- The total number of equity shares outstanding now stands at 3,49,39,398
Wanbury Limited has successfully commenced commercial shipments of its new high-demand Anaesthetic API from its Tanuku facility in Andhra Pradesh. The first sale and invoicing milestone was achieved on January 30, 2026, for a leading European customer. This move marks the company's entry into a high-growth segment just months after the initial product launch. Management expects this to signal rapid growth and production ramp-up, strengthening its global API portfolio which already serves over 50 countries.
- Achieved first sales and invoicing of a new high-demand Anaesthetic API on January 30, 2026
- Commenced commercial shipments to a leading European customer from the USFDA/EUGMP approved Tanuku facility
- Commercialization achieved within just months of the product launch, indicating high operational efficiency
- Management signals rapid growth ahead with plans to multiply production capacity and scaling fast
Wanbury Limited has commenced commercial production of a high-potent anaesthetic API at its Tanuku facility in Andhra Pradesh. This move is expected to generate incremental revenues of approximately ₹18 crore in Q4 FY26 and over ₹100 crore in FY 2026-27. The company is also expanding its capacity with a multi-purpose intermediate block scheduled for completion by March 2026. This expansion aims to capture a share of the global market for these new APIs, which is currently valued at over ₹5,000 crore.
- Commenced commercial production of a key anaesthetic API at the state-of-the-art Tanuku facility.
- Projected incremental revenue of over ₹100 crore in FY 2026-27 from the new API production.
- Expected immediate revenue contribution of approximately ₹18 crore in Q4 FY 2025-26.
- On track to launch four additional high-value APIs (Antidiabetic, Anticoagulant, etc.) by March 2026.
- Targets a global market opportunity for these molecules valued at over ₹5,000 crore.
Wanbury Limited has commenced commercial production of a high-potent anaesthetic API at its Tanuku facility in Andhra Pradesh. The company expects this launch to generate incremental revenues of approximately Rs. 18 crore in Q4 FY26 and over Rs. 100 crore in FY 2026-27. Furthermore, a new multi-purpose production block is on track for completion by March 2026, which will facilitate the production of four additional high-value APIs. These strategic moves target a global market opportunity valued at over Rs. 5,000 crore, significantly strengthening the company's API portfolio.
- Commenced commercial production of a key anaesthetic API at the state-of-the-art Tanuku facility.
- Projected incremental revenue of over Rs. 100 crore for FY 2026-27 and Rs. 18 crore for Q4 FY26.
- Multi-purpose intermediate production block for four additional APIs expected to be ready by March 2026.
- New products target high-value therapeutic categories including Anticoagulants and Antidepressants.
- The global market for the upcoming pipeline of APIs is currently valued at over Rs. 5,000 crore.
Wanbury Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations for the period ending December 31, 2025. The Registrar and Share Transfer Agent, Purva Sharegistry (India) Pvt. Ltd., confirmed that all share certificates received for dematerialization were processed, mutilated, and cancelled as per guidelines. The filing includes a detailed list of shareholders whose physical shares were converted to electronic form during the quarter. This is a standard administrative procedure ensuring the integrity of the company's share register.
- Compliance certificate issued by Purva Sharegistry for the quarter ended December 31, 2025.
- Confirmed that dematerialized securities are listed on the National Stock Exchange and BSE.
- Detailed list shows multiple transactions, with the largest being 400 shares for a single folio on December 31, 2025.
- Verification and cancellation of physical certificates were completed within prescribed SEBI timelines.
Financial Performance
Revenue Growth by Segment
API revenue grew 8.2% YoY to INR 277 Cr in H1 FY26, while Formulations revenue grew 17.6% YoY to INR 40 Cr in H1 FY26. Total revenue for H1 FY26 was INR 323.2 Cr, up 10.57% YoY from INR 292.3 Cr.
Geographic Revenue Split
80% of revenue is derived from Exports, with 65% of that comprising regulated markets. Domestic sales contribute the remaining 20% of the total revenue mix.
Profitability Margins
Gross Margin improved from 39% in FY23 to 56.11% in H1 FY26. PAT Margin turned positive from -2.08% in FY23 to 5.28% in FY24 and reached 8.87% in H1 FY26 due to operational efficiencies and debt restructuring.
EBITDA Margin
EBITDA Margin was 15.7% in H1 FY26, a significant improvement from 4.7% in FY23. EBITDA scaled up ~3X between FY23 and FY25 through de-bottlenecking and production scale-up.
Capital Expenditure
Planned Capex of INR 64 Cr in FY25 (INR 38 Cr for new products, INR 14 Cr for de-bottlenecking) and INR 63 Cr in FY26 (INR 45 Cr for a new production block and clean rooms).
Credit Rating & Borrowing
Credit rating is IVR C+/Negative (Issuer Not Cooperating) as of October 2024. Borrowing costs were reduced from 22.5% to 12.5% effective March 1, 2025, following the exit of high-cost private financial agreements.
Operational Drivers
Raw Materials
Key raw materials are chemical precursors for Metformin and Sertraline; COGS represented 44% of revenue in H1 FY26 (INR 142.4 Cr).
Import Sources
Not specifically disclosed in available documents, though the company exports to 50+ countries and operates in global API markets.
Capacity Expansion
Metformin capacity is 8,500 tons per year (largest manufacturer globally). Capacity for Metformin and Sertraline increased by 25% and 20% respectively over the last 3 years through de-bottlenecking.
Raw Material Costs
COGS as a % of revenue decreased from 60.7% in FY23 to 44% in H1 FY26, reflecting efficient procurement practices and technical savings.
Manufacturing Efficiency
Capacity ramp-up achieved through de-bottlenecking projects; cumulative reactor capacity stands at 386 KL across 2 USFDA approved facilities.
Strategic Growth
Expected Growth Rate
10.60%
Growth Strategy
Growth will be driven by launching an Anaesthetic in Q4 FY26 and a pipeline of 4 new molecules commercialized each year starting next FY. Strategic focus includes brownfield expansion, entering China/Brazil markets, and scaling top brands in Formulations to achieve sustainable profitability by FY27.
Products & Services
API products including Metformin, Sertraline, and Anaesthetics. Branded Formulations include C Pink and Wanbury C RED.
Brand Portfolio
C Pink, Wanbury C RED.
New Products/Services
Launch of an Anaesthetic in Q4 FY26 and 4 new molecules per year starting FY27; Formulations business achieved financial break-even in H1 FY26.
Market Expansion
Expanding regulatory footprints in China (expecting approval for 1 more API) and Brazil (ANVISA approved in Dec 2024).
Market Share & Ranking
Largest manufacturer of Metformin globally with 8,500 tons/year; globally significant market share in Sertraline.
Strategic Alliances
Historical strategic alliance with Wyckoff Chemicals (US) for API manufacturing.
External Factors
Industry Trends
The industry is shifting toward chronic therapies; Wanbury has aligned 100% of its API portfolio to chronic segments. The company is positioned to benefit from the 10.6% growth trend seen in H1 FY26.
Competitive Landscape
Wanbury is a mid-size pharma company ranked among the Top 50 in India (ORG-IMS), competing in the global API and domestic branded formulation markets.
Competitive Moat
Moat is built on being the world's largest Metformin producer and having long-standing USFDA approvals (since 2000). This cost leadership and regulatory track record are highly sustainable due to high entry barriers in regulated API markets.
Macro Economic Sensitivity
Sensitivity to global pharmaceutical demand and regulatory changes in the US and Europe, which govern 65% of export top-line.
Consumer Behavior
Increased demand for chronic disease management (Diabetes/Metformin) is driving long-term volume growth.
Geopolitical Risks
Exposure to trade barriers in regulated markets; mitigating this by expanding into China and Brazil.
Regulatory & Governance
Industry Regulations
Subject to USFDA (last inspection 2024, zero 483), EDQM (Europe), ANVISA (Brazil), and WHO GMP regulations. Compliance is mandatory for 80% of revenue derived from exports.
Environmental Compliance
Maintains Environment, Health & Safety (EHS) standards as part of corporate profile; specific costs not disclosed.
Risk Analysis
Key Uncertainties
Regulatory risk (potential impact on 65% of exports) and high debt-to-equity levels, although gearing improved from 4.96x in FY24 to 3.25x in FY25.
Geographic Concentration Risk
80% revenue concentration in Export markets, making the company sensitive to international trade policies.
Third Party Dependencies
Low dependency on single suppliers or customers as per management commentary.
Technology Obsolescence Risk
Digital transformation status includes 'GPS reporting' to improve field force efficiency in the Formulations business.
Credit & Counterparty Risk
Trade payables stood at INR 112.53 Cr in H1 FY26; the company has exited high-cost private financial agreements to improve credit standing.