India Pharma Outlook Team | Friday, 21 August 2026
The latest financial performance in the pharma sector shows strong Q1 FY27 results. These numbers point to improving profitability, stronger operating efficiency and continued expansion in high-growth therapy segments.
Orchid Pharma reported higher revenue and a sharp rise in profitability. Manipal Hospitals also posted strong revenue and EBITDA growth. Similarly, Mankind Pharma expanded its diabetes portfolio with two insulin analogues.
Globally, Novonesis and Novo Nordisk are exploring microbiome supplements alongside GLP-1 weight-loss medicines.
These developments show stronger pharma sector financial performance across revenue, profitability, chronic care and new therapy areas.
Orchid Pharma reported standalone revenue of Rs 304 crore in Q1 FY27. Revenue rose 16 per cent from Rs 263 crore in Q1 FY26. EBITDA jumped 178 per cent to Rs 25 crore, whereas it stood at Rs 9 crore in the year-ago quarter. The EBITDA margin reached 8 per cent, as it stood at 3 per cent a year earlier.
The company reported Rs 12 crore in standalone PAT. It had reported Rs 3 crore loss in Q1 FY26. Gross margin also improved to 33 per cent from 30 per cent following the Integration of Dhanuka Laboratories that took effect on July 10, 2026. The National Company Law Tribunal approved the merger. Dhanuka brings expertise in cephalosporin antibiotics. It also operates two API manufacturing facilities.
Orchid reported consolidated total income of Rs 306 crore. Consolidated profit stood at Rs 3.22 crore. The company had reported Rs 5.69 crore loss in Q1 FY26.
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Manipal Hospitals reported Q1 FY27 revenue of Rs 3,091 crore. Revenue grew 38.1 per cent year on year. EBITDA reached Rs 749 crore. It rose 26.4 per cent during the quarter. PAT declined 4.2 per cent to Rs 243 crore. The company incurred Rs 89 crore in post-tax interest. The cost related to an NCD raised for the Sahyadri Hospitals acquisition.
Adjusted PAT grew 30.9 per cent after excluding this interest cost. Inpatient volumes rose 38.8 per cent. Outpatient volumes increased 26 per cent. Occupancy improved by 290 basis points to 65 per cent.
Dilip Jose, Managing Director & CEO, Manipal Hospitals, said, “Q1 FY27 marks an important milestone for Manipal Hospitals as our first quarter as a listed company. Our performance this quarter reflects the strength of our Pan-India network, sustained patient demand and continued growth in high-acuity specialties. We remained focused on absorbing added capacity while maintaining clinical quality, patient outcomes and operational discipline.”
Oncology and orthopedics remained key growth areas. Oncology inpatient revenue rose 62 per cent. Orthopedics inpatient revenue increased 49 per cent. Sahyadri Hospitals also reported strong numbers. Revenue grew 12.8 per cent. EBITDA increased 18.7 per cent.
Mankind Pharma signed an exclusive in-licensing and marketing agreement with Chongqing Chenan Biopharmaceutical. The deal covers two insulin analogues. These include Insulin Degludec and Insulin Degludec + Aspart.
Mankind will market the products in India. The agreement expands its injectable diabetes portfolio. The deal also supports Mankind’s chronic-care strategy. The company continues to explore international partnerships for differentiated biopharmaceutical assets.
“China is rapidly emerging as a hub for innovative biopharmaceutical assets. Building on our partnerships for Insulin Aspart and Insulin Degludec, we remain focused on expanding our in-licensing pipeline from China,” said Atish Majumdar, Senior President, Sales and Marketing at Mankind Pharma.
Novonesis expects results in the second half of 2027 from its research with Novo Nordisk. The companies are studying microbiome supplements for people using GLP-1 weight-loss medicines. The research will assess blood glucose and cholesterol. It will also examine gut microbiome changes and related biomarkers.
The companies are exploring synbiotics, probiotics and prebiotics. These products could complement GLP-1 drugs. The collaboration combines Novo Nordisk’s obesity drug expertise with Novonesis’ microbiome capabilities.
The latest financial performance in the pharma sector shows stronger operating results. Orchid delivered a 178 per cent EBITDA increase. Manipal Hospitals recorded 26.4 per cent EBITDA growth. Mankind is expanding its diabetes portfolio through international licensing. Novonesis and Novo Nordisk are exploring opportunities around GLP-1 therapies.
These moves could shape the next phase of pharma growth. Companies may focus more on chronic care, operating efficiency and strategic licensing. Obesity and diabetes could also create new opportunities across the broader healthcare market.
