WOCKPHARMA · Healthcare
Wockhardt Ltd. reported revenue of ₹965 cr for January to March 2026, +29.9% on the year and +8.7% on the quarter. It is the highest quarterly revenue in the last 12 quarters on record. Over the last four quarters revenue comes to ₹3,373 cr, +12.0% on the four before.
Operating profit (EBITDA) was ₹225 cr, a margin of 23.3%, +1,470 bps on the year and +338 bps on the quarter. It is the widest margin of the last 8 quarters (range 8.6% to 23.3%). Operating costs grew +9.0% against revenue growth of +29.9%, so more of each rupee of sales reached operating profit.
The company swung to a net profit of ₹164 cr from a loss of ₹45.0 cr a year earlier, with earnings per share of ₹10.22.
On earnings per share of ₹13.11 over the last four quarters, the stock at ₹1,947.00 trades at 148.5 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
Other income is carrying a large and rising share of profit. Treasury gains, interest, or one-off?
Source: Quarterly statements
Turned profitable from a loss a year ago.
Source: Quarterly statements
Could not run on this quarter: Headline vs core profit, Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹701 cr | ₹700 cr | ₹739 cr | ₹809 cr | ₹721 cr | ₹743 cr | ₹738 cr | ₹782 cr | ₹888 cr | ₹965 cr | ₹929 cr | ₹969 cr |
| YoY | — | — | +15% | +7% | +3% | +6% | −0% | −3% | +23% | +30% | +26% | +24% |
| EBITDA margin | 5.3% | −8.4% | 12.3% | 13.6% | 17.8% | 8.6% | 9.8% | 22.8% | 19.9% | 23.3% | 20.7% | 17.9% |
| Other income, % of PBT | — | — | — | — | 38% | — | — | 23% | 22% | 35% | 27% | 15% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | — | — | — | — | 5% | — | — | 10% | 9% | 13% | 8% | 0% |
| Net profit | −₹86.0 cr | −₹177 cr | −₹16.0 cr | −₹16.0 cr | ₹20.0 cr | −₹45.0 cr | −₹108 cr | ₹82.0 cr | ₹61.0 cr | ₹164 cr | ₹107 cr | ₹73.0 cr |
| YoY | — | — | — | — | — | — | — | — | +205% | — | — | −11% |
| Core profit YoY | — | — | — | — | — | — | — | — | +300% | — | — | −11% |
| EPS | −₹5.76 | −₹11.02 | −₹0.91 | −₹1.43 | ₹0.86 | −₹1.54 | −₹5.54 | ₹4.80 | ₹3.63 | ₹10.22 | ₹6.52 | ₹4.86 |
| Flags | · | · | ✓ | ✓ | 1 | ✓ | ✓ | ✓ | ✓ | 1 | ✓ | 2 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Wockhardt Ltd. reported revenue of ₹965 cr (+29.9% on the year) and net profit of ₹164 cr (— on the year) for January to March 2026.
1 check raised a question: Other income is carrying a large and rising share of profit. Treasury gains, interest, or one-off?
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