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Windlas Biotech Seeks Approval for Director Re-appointments and ₹1.56 Cr Annual Remuneration
Windlas Biotech has initiated a postal ballot to seek shareholder approval for the re-appointment of Mr. Ashok Kumar Windlass as Whole-time Director for a five-year term starting May 3, 2026. The proposal includes a fixed annual remuneration of ₹1.56 crore and requires a special resolution as he is over 75 years of age. Additionally, the company is seeking a second five-year term for Independent Directors Mr. Vivek Dhariwal and Mr. Gaurav Gulati. Shareholders can participate in remote e-voting from February 18 to March 19, 2026.
Key Highlights
Proposed re-appointment of Mr. Ashok Kumar Windlass as WTD for 5 years with ₹1.56 crore annual salary.
Special resolution required for Mr. Windlass to continue in office beyond the age of 75 years.
Re-appointment of two Independent Directors, Vivek Dhariwal and Gaurav Gulati, for second 5-year terms.
Remote e-voting period set for February 18, 2026, to March 19, 2026, with a cut-off date of February 13.
Aggregate remuneration of promoter executive directors may exceed SEBI Regulation 17(6)(e) limits but will remain within Section 197 ceilings.
💼 Action for Investors
Investors should monitor the voting results to ensure leadership continuity and evaluate if the proposed remuneration aligns with the company's performance. No immediate portfolio changes are necessary based on this routine governance update.
Windlas Biotech Q3 Revenue Up 20% to INR 233 Cr; Plant 6 Completion Set for FY26
Windlas Biotech reported a strong Q3 FY26 with revenue growing 20% YoY to INR 233 crores, marking its 12th consecutive quarter of record revenue. The CDMO vertical led the performance with 23% growth, while the Exports segment surged 36% due to increased penetration in semi-regulated markets. Management confirmed that Plant 6 is on track for mechanical completion by the end of FY26, which will bring the total revenue capacity to approximately INR 1,100 crores. For the first 9 months of FY26, the company achieved an EPS of INR 24.02, representing a 12% YoY increase.
Key Highlights
Q3 FY26 revenue grew 20% YoY to INR 233 Cr, while 9M FY26 revenue rose 19% to INR 666 Cr.
9M FY26 EBITDA (excluding ESOP expenses) stood at INR 89 Cr with a margin of 13.3%.
Exports vertical grew 36% in Q3 FY26, significantly outperforming domestic volume growth trends.
Plant 6 mechanical completion expected by end of FY26 with an estimated capex of INR 50-60 Cr.
Total revenue capacity target set at INR 1,000 Cr for oral solids and INR 100 Cr for injectables.
💼 Action for Investors
Investors should focus on the successful commissioning and utilization of Plant 6 and the injectable facility as primary growth catalysts. The company's consistent 12-quarter revenue growth streak and expansion in high-margin exports make it a strong candidate for long-term portfolios in the CDMO space.
Windlas Biotech Faces Suspension of Codeine Syrup Production; ₹55.21 Cr Revenue Impact
Windlas Biotech has received a Show Cause Notice from the Food Safety & Drug Administration (Uttarakhand), resulting in the temporary suspension of Codeine-containing cough syrup manufacturing. This specific product line contributed ₹55.21 crore to the company's total revenue in the current financial year as of February 9, 2026. While the suspension is limited to this product category, the company is preparing a detailed response to address the regulatory concerns and resume operations. Investors should monitor the duration of this suspension as it affects a material revenue stream.
Key Highlights
Temporary suspension of Codeine-containing cough syrup manufacturing by Uttarakhand authorities.
Affected product line contributed ₹55.21 crore to revenue in the current FY up to Feb 9, 2026.
Suspension is limited to Codeine-based products; other manufacturing operations remain unaffected.
Company is in the process of filing a detailed response to the Show Cause Notice within stipulated timelines.
💼 Action for Investors
Investors should monitor the duration of the suspension as the affected revenue is significant. Watch for the company's formal response and any further regulatory actions or clearances from the Food Safety & Drug Administration.
Windlas Biotech Re-appoints Founder and Two Independent Directors for 5-Year Terms
Windlas Biotech has approved the re-appointment of its founder, Mr. Ashok Kumar Windlass, as Whole-time Director for a five-year term starting May 2026. The board also re-appointed Chairman Mr. Vivek Dhariwal and Mr. Gaurav Gulati as Independent Directors for their second five-year terms. These moves ensure leadership continuity and maintain a board with deep expertise in pharmaceutical manufacturing and business strategy. The re-appointments are subject to shareholder approval and will extend the current leadership's tenure until 2031.
Key Highlights
Mr. Ashok Kumar Windlass re-appointed as Whole-time Director for a 5-year term from May 3, 2026, to May 2, 2031.
Chairman Vivek Dhariwal re-appointed as Independent Director for a second 5-year term starting May 6, 2026.
Gaurav Gulati re-appointed as Independent Director for a second 5-year term starting May 6, 2026.
The leadership team brings combined experience from major firms like Pfizer, Baxter, and Oyo Hotels.
💼 Action for Investors
Investors should view this as a sign of management stability and continuity, which is beneficial for long-term strategic execution. No immediate action is required as the existing leadership remains in place.
Windlas Biotech Q3FY26: Revenue up 20% to Rs 233 Cr; 12th Consecutive Record Revenue Quarter
Windlas Biotech reported a strong 20% YoY revenue growth in Q3FY26, reaching Rs 233.1 crore, marking its 12th consecutive quarter of record revenue. While reported PAT for the quarter saw a marginal decline of 4% to Rs 14.9 crore due to non-cash ESOP expenses, adjusted PAT grew significantly. The core CDMO vertical, contributing over 70% of revenue, grew by 23% YoY, while the export segment surged by 36%. For the 9-month period, the company maintained healthy momentum with a 19% revenue increase and a 13% rise in reported PAT.
Key Highlights
Revenue from operations grew 20% YoY to Rs 233.1 crore in Q3FY26, driven by the CDMO segment.
Adjusted EBITDA (excluding ESOP expenses) for 9MFY26 rose 26% YoY to Rs 89 crore with a 13.3% margin.
CDMO revenue increased 23% YoY in Q3FY26, contributing 71.6% to the total revenue mix.
Export vertical showed significant traction with 36% YoY growth in Q3FY26, reaching Rs 13.2 crore.
Plant-6 is on track for mechanical completion by the end of FY26, signaling future capacity expansion.
💼 Action for Investors
Investors should focus on the strong 20% top-line growth and the robust performance of the CDMO segment, looking past the reported PAT dip caused by non-cash ESOP expenses. The consistent revenue records and upcoming capacity at Plant-6 suggest a positive long-term growth trajectory for the company.
Windlas Biotech Q3FY26 Revenue up 20% to ₹233 Cr; Adjusted PAT Surges 38% YoY
Windlas Biotech reported its 12th consecutive quarter of record revenue, reaching ₹233 crore in Q3FY26, a 20% YoY increase. While reported PAT for Q3 fell 4% to ₹15 crore due to significant non-cash ESOP charges, the adjusted PAT (excluding ESOPs) surged 38% to ₹22 crore. The core CDMO vertical, contributing 73% of revenue, grew 23% in Q3, while the Exports segment jumped 36%. The company remains net debt-free with ₹213 crore in liquidity and expects to complete its Plant-6 expansion by the end of FY26.
Key Highlights
9MFY26 Revenue grew 19% YoY to ₹666 Cr, driven by strong performance across CDMO and Export verticals.
Adjusted EBITDA (excluding non-cash ESOP expenses) for 9MFY26 rose 26% YoY to ₹89 Cr with a 13.3% margin.
CDMO vertical revenue grew 23% YoY in Q3FY26 to ₹167 Cr, with 67% of the portfolio focused on complex generics.
Exports segment showed robust momentum with 36% YoY growth in Q3FY26, increasing penetration in RoW markets.
Maintains a strong financial position with ₹213 Cr liquidity and remains net debt-free.
💼 Action for Investors
Investors should focus on the adjusted (Ex-ESOP) profit figures to assess operational performance, as non-cash accounting charges are temporarily masking strong bottom-line growth. The consistent revenue trajectory and shift toward complex generics and exports make this a positive long-term growth story.
Windlas Biotech Q3 Revenue Grows 19.5% YoY to ₹233 Cr; PAT Marginally Lower at ₹15 Cr
Windlas Biotech reported a 19.5% YoY increase in revenue for Q3 FY26, reaching ₹2,331.02 million. Despite the top-line growth, net profit declined slightly to ₹150.02 million from ₹155.76 million in the same quarter last year, impacted by a 30% rise in employee benefit expenses. For the nine-month period ending December 2025, the company maintained a positive trajectory with a 12.9% increase in net profit. The board also approved the dissolution of its non-operative US subsidiary to simplify the corporate structure.
Key Highlights
Q3 FY26 Revenue from Operations increased 19.5% YoY to ₹2,331.02 million.
Net Profit for the quarter dipped 3.7% YoY to ₹150.02 million due to higher operating costs.
9M FY26 Revenue reached ₹6,655.90 million, up from ₹5,571.73 million in the previous year.
Employee benefit expenses surged to ₹420.48 million in Q3 FY26 compared to ₹321.72 million in Q3 FY25.
Board approved the dissolution of Windlas Inc. USA, a non-operative wholly-owned subsidiary.
💼 Action for Investors
While revenue growth is robust, the margin pressure from rising employee costs warrants caution; investors should hold for long-term CDMO prospects.