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ONESOURCE - OneSource Speci.

📊 NSE: ONESOURCE 🏢 Miscellaneous 📅 Last Updated: 12/14/2025 10:42

📢 Recent Corporate Announcements

OneSource Specialty Pharma Withdraws CARE Ratings; Maintains IND A- Positive Rating

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 05 Mar 2026, 10:32 PM

OneSource Specialty Pharma has requested the withdrawal of its credit ratings from CareEdge Ratings (CARE) as part of a rationalization process. Prior to the withdrawal, CARE reaffirmed the ratings at 'CARE BBB+; Stable' for long-term facilities and 'CARE A3+' for short-term facilities. The company continues to maintain a superior credit rating of 'IND A-; Positive' from India Ratings & Research, which was reaffirmed in December 2025. This move is intended to streamline the company's external credit assessments.

CARE reaffirmed 'CARE BBB+; Stable' and 'CARE A3+' ratings before withdrawing them at the company's request.
The company continues to hold a higher 'IND A-; Positive' rating from India Ratings & Research.
Ratings were withdrawn for long-term/short-term bank facilities and non-convertible debentures.
The withdrawal is part of a periodic review and rationalization of external credit ratings.

💡 Investors should view this as a routine administrative consolidation of credit rating agencies. The maintenance of a 'Positive' outlook from India Ratings suggests a stable to improving credit profile.

OneSource Specialty Pharma to Attend Investec India Promoter & Founder Conference on March 09

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 04 Mar 2026, 06:57 PM

OneSource Specialty Pharma Limited has announced its participation in the Investec India Promoter & Founder Conference 2026. The event is scheduled for March 09, 2026, in Mumbai, where company representatives will meet with institutional investors. The discussions will center on the company's business strategy, industry trends, and growth outlook based on publicly available information. This is a standard investor engagement activity and no unpublished price sensitive information will be shared.

Participation in Investec India Promoter & Founder Conference 2026 scheduled for March 09, 2026.
Interaction will take place in Mumbai with various institutional investors and analysts.
Discussion topics include business overview, strategy, industry trends, and growth outlook.
Compliance with Regulation 30 of SEBI (LODR) Regulations, 2015 confirmed by the company.

💡 No immediate action is required as this is a routine investor meeting. Investors should look for any subsequent investor presentations filed with the exchanges for updated insights into the company's strategy.

OneSource Pharma Gets NSE/BSE No-Objection for Merger with Steriscience and Strides Entities

🟢 POSITIVE ⭐ 8/10

M&A 📅 26 Feb 2026, 04:55 PM

OneSource Specialty Pharma has cleared a major regulatory hurdle by receiving 'No-Objection' letters from NSE and BSE for its proposed multi-entity merger. The scheme involves the absorption of Steriscience Specialties, Brooks Steriscience, Steriscience Pte. (Singapore), and Strides Pharma Services into OneSource. This consolidation is aimed at creating a larger specialty pharma platform, though it remains subject to NCLT and shareholder approvals. Investors should carefully review the mandated disclosures regarding the impact on public shareholding and the integration of accumulated losses from the merging entities.

NSE and BSE issued 'No-Objection' letters on February 25, 2026, valid for a period of six months.
The merger includes four transferor companies, including an international entity based in Singapore (Steriscience Pte. Limited).
SEBI requires prominent disclosure of the pre and post-scheme shareholding patterns for promoters and public shareholders in the upcoming notice.
The company must provide a detailed rationale for merging entities with accumulated losses and the resulting impact on OneSource's reserves.
Final implementation remains subject to approvals from the NCLT Mumbai, Singapore Courts, and respective creditors.

💡 Investors should wait for the detailed explanatory statement to assess the share-swap ratio and the financial health of the entities being absorbed. This merger is a significant step for the company's growth but requires final NCLT clearance.

OneSource Specialty Pharma Assigned ESG Score of 65.7 by SES ESG Research

🟡 NEUTRAL ⭐ 4/10

REGULATORY 📅 12 Feb 2026, 04:48 PM

OneSource Specialty Pharma Limited has been assigned an Environmental, Social, and Governance (ESG) score of 65.7 by SES ESG Research Private Limited. The rating is based on the company's performance data for the fiscal year 2024-25 available in the public domain. Notably, the company did not commission this report; SES ESG Research conducted the assessment independently. This disclosure is in compliance with the SEBI Master Circular regarding ESG ratings for listed entities.

SES ESG Research assigned an ESG score of 65.7 to the company.
The assessment is based on publicly available data from the Financial Year 2024-25.
The rating was independent and not commissioned or engaged by OneSource Specialty Pharma.
The disclosure follows the SEBI Master Circular dated January 30, 2026, regarding ESG reporting.

💡 Investors should monitor the company's ESG score relative to industry peers to assess long-term sustainability risks. No immediate action is required as this is a routine regulatory disclosure of an independent rating.

OneSource Secures SFDA Approval for Generic Ozempic in Saudi Arabia via Hikma Partnership

🟢 POSITIVE ⭐ 8/10

REGULATORY 📅 11 Feb 2026, 08:22 AM

OneSource Specialty Pharma has received approval from the Saudi Food and Drug Authority (SFDA) to commercialize a generic version of Ozempic (semaglutide) in Saudi Arabia. The company has entered into an exclusive partnership with Hikma Pharmaceuticals, the largest pharma company in the MENA region, to handle commercialization and distribution. OneSource will manufacture the product at its integrated Biologics facility in Bengaluru, India. This approval marks a significant entry into one of the world's largest markets for GLP-1 therapies, positioning the company for high-growth revenue in the metabolic health segment.

Received SFDA approval for generic semaglutide (Ozempic®) in Saudi Arabia.
Exclusive commercialization partnership with Hikma Pharmaceuticals for the MENA region.
Manufacturing to be conducted at the company's state-of-the-art Bengaluru facility.
Targeting Saudi Arabia, identified as one of the largest global markets for GLP-1 therapies.
OneSource operates 5 global manufacturing facilities with a team of over 1,600 professionals.

💡 Investors should monitor the commercial rollout and subsequent revenue contribution from the MENA region, as this establishes OneSource as a key player in the high-value GLP-1 generic market. The stock may see positive momentum given the scale of the partnership with Hikma.

Promoter Group Acquires 4.43 Lakh Shares (0.39% Stake) of OneSource Specialty Pharma

🟢 POSITIVE ⭐ 6/10

MANAGEMENT 📅 04 Feb 2026, 07:43 PM

Promoter group entities, Tenshi Pharmaceuticals Private Limited and Pronomz Ventures LLP, have increased their stake in OneSource Specialty Pharma by purchasing 443,906 shares from the open market. This acquisition represents approximately 0.39% of the company's total paid-up equity capital. The transactions were carried out between January 30, 2026, and February 04, 2026. Such insider buying is generally viewed as a sign of promoter confidence in the company's valuation and future growth prospects.

Promoter group acquired a total of 443,906 equity shares representing 0.39% of the company.
Tenshi Pharmaceuticals Private Limited purchased 365,000 shares across three transactions.
Pronomz Ventures LLP acquired 78,906 shares in two separate market transactions.
The acquisition was conducted through the stock market between January 30 and February 04, 2026.
Disclosures were made under SEBI Substantial Acquisition of Shares & Takeovers and Prohibition of Insider Trading regulations.

💡 Investors should take this as a positive signal of promoter commitment and confidence in the business. It may be worth monitoring the stock for further consolidation or accumulation by insiders at current levels.

OneSource Q3 FY26 Revenue Drops $10M on Regulatory Delays; Reaffirms $400M FY28 Target

🔵 WATCH ⭐ 8/10

EARNINGS 📅 30 Jan 2026, 09:47 PM

OneSource Specialty Pharma reported a $10 million sequential revenue decline in Q3 FY26, primarily driven by deferred semaglutide approvals in the Canadian market and a strategic shift from MSAs to commercial supplies. Despite these near-term headwinds, management reiterated its FY28 guidance of $400 million in revenue and $160 million in EBITDA, excluding inorganic growth. The company is aggressively investing over INR 700 crores in capacity expansion and has doubled its flagship site workforce to prepare for a significant ramp-up expected in H2 FY27.

Q3 FY26 revenue and EBITDA declined by approximately $10 million sequentially due to deferred commercial launches.
Reiterated long-term FY28 guidance of $400 million revenue and $160 million EBITDA.
Aggressive capex of over INR 700 crores (~$100 million) is underway, with 75% of flagship site investment already committed.
Currently holding INR 250 crores in customer advances for pre-booked manufacturing capacities.
Flagship site workforce doubled year-to-date with the addition of 300 new full-time employees.

💡 Investors should focus on the H2 FY27 recovery timeline and regulatory approval milestones for semaglutide in Canada and emerging markets. While the next two quarters may remain soft, the reiterated FY28 guidance suggests significant long-term upside if execution remains on track.

Promoter Tenshi Pharmaceuticals Acquires 200,000 Shares (0.17% Stake) in OneSource Specialty

🟢 POSITIVE ⭐ 6/10

OTHER 📅 28 Jan 2026, 06:57 PM

Tenshi Pharmaceuticals Private Limited, a promoter entity of OneSource Specialty Pharma Limited, has acquired 200,000 equity shares from the open market. This transaction, completed on January 28, 2026, represents a 0.17% stake in the company's total equity capital. The acquisition was disclosed in compliance with SEBI's Substantial Acquisition of Shares and Insider Trading regulations. Promoter buying from the open market typically signals internal confidence in the company's long-term value and operational trajectory.

Tenshi Pharmaceuticals purchased 200,000 equity shares on January 28, 2026.
The acquisition accounts for 0.17% of the company's total equity share capital.
The transaction was executed via an open market purchase.
The disclosure follows SEBI (SAST) and SEBI (PIT) regulatory requirements.

💡 This insider buying is a positive indicator of promoter conviction; investors may consider this a supportive factor for the stock price. Monitor for further accumulation by promoters as a sign of sustained confidence.

OneSource Specialty Pharma Releases Q3 FY26 Earnings Call Audio Recording

🟡 NEUTRAL ⭐ 3/10

EARNINGS 📅 24 Jan 2026, 02:08 PM

OneSource Specialty Pharma Limited has released the audio recording of its earnings conference call held on January 24, 2026. The call was conducted to discuss the company's unaudited financial results for the third quarter ended December 31, 2025. This disclosure is a standard regulatory requirement under SEBI Listing Obligations and Disclosure Requirements. Investors can access the full recording via the link provided on the company's official website to gain insights into management's commentary.

Earnings call held on January 24, 2026, at 09:30 hrs IST regarding Q3 FY26 results.
Discussion centered on unaudited financial performance for the quarter ended December 31, 2025.
Audio recording link made available on the company's website for public transparency.
Compliance filing submitted under Regulation 30 and 46 of SEBI LODR Regulations.

💡 Investors should listen to the audio recording to understand management's outlook and specific performance drivers for the quarter. No immediate action is required as this is a routine procedural update.

OneSource Corrects FY28 Revenue Guidance to $500M; Reports Weak Q3FY26 Results

🔵 WATCH ⭐ 8/10

EARNINGS 📅 24 Jan 2026, 01:09 PM

OneSource Specialty Pharma reported a weak Q3FY26 with revenues declining 26% YoY to ₹2,903 million and EBITDA falling 88% to ₹173 million due to delayed semaglutide approvals in Canada. The company issued a critical correction to its FY28 guidance, clarifying that revenue targets are $400-$500 million, not ₹400-₹500 million as previously stated. Despite a quarterly adjusted PAT loss of ₹472 million, management reaffirmed long-term targets of ~40% EBITDA margins and ROCE above 50%. The company noted that the order book remains strong and the biologics segment is seeing historic high interest.

Corrected FY28 revenue guidance to $400 million organic and $500 million total, a massive upward correction from the typo of ₹500 million.
Q3FY26 revenue dropped 26% YoY to ₹2,903 million, impacted by transition delays from MSA to CSA phases in Canada.
EBITDA margins collapsed to 6% from 36% YoY, leading to an adjusted PAT loss of ₹472 million.
Effective interest rate (EIR) improved by 200bps YoY to below 9%, showing better debt management.
Reaffirmed FY28 outlook of ~40% EBITDA margin and Net-to-EBITDA ratio below 1.5x.

💡 Investors should focus on the timeline for Canadian regulatory approvals for semaglutide, which is the primary bottleneck for current revenue. While the corrected USD-denominated FY28 guidance is highly positive, the current operational volatility suggests waiting for a recovery in EBITDA margins before increasing exposure.

OneSource Q3FY26 Revenue Drops 26% to ₹2,903M; EBITDA Margin Shrinks to 6%

🔴 NEGATIVE ⭐ 8/10

EARNINGS 📅 23 Jan 2026, 09:31 PM

OneSource Specialty Pharma reported a weak Q3FY26 with revenue declining 26% YoY to ₹2,903 million, primarily due to delayed customer approvals for semaglutide in Canada. EBITDA crashed 88% YoY to ₹173 million as margins compressed significantly from 36% to 6% due to a fixed cost base and lower operating leverage. Despite the quarterly setback, the company reaffirmed its ambitious FY28 guidance of $400-$500 million in revenue with ~40% EBITDA margins. The biologics segment remains a bright spot with a 4x growth in the project funnel and the onboarding of a major US biosimilar player.

Revenue declined 26% YoY to ₹2,903 million due to transitional delays in the Canadian market for semaglutide.
EBITDA plummeted 88% YoY to ₹173 million, with margins shrinking by 3,018 bps to 6%.
Reported an Adjusted PAT loss of ₹472 million compared to a profit of ₹672 million in Q3FY25.
Reaffirmed FY28 organic revenue guidance of $400 million and steady-state EBITDA margin outlook of ~40%.
Biologics funnel grew 4x compared to FY25, with 20 new MSAs and licensing deals signed during the year.

💡 Investors should treat this as a transitional quarter and closely monitor the timeline for Canadian regulatory approvals for semaglutide. While current earnings are weak, the long-term investment thesis depends on the company's ability to execute its high-margin FY28 guidance and scale its biologics CDMO business.

OneSource Specialty Pharma Q3 Revenue Drops 22% QoQ; Reports ₹621.8 Million Net Loss

🔴 NEGATIVE ⭐ 8/10

EARNINGS 📅 23 Jan 2026, 09:25 PM

OneSource Specialty Pharma (formerly Stelis Biopharma) reported a weak Q3 FY26 with standalone revenue falling 22.6% sequentially to ₹2,902.2 million. The company posted a net loss of ₹621.8 million, a sharp reversal from the ₹371 million profit in Q2 FY26, driven by increased 'other expenses' and exceptional costs. Exceptional items totaling ₹70.9 million were linked to merger integration and employee settlements. While 9M FY26 performance shows revenue growth of 20% YoY, the quarterly volatility remains a concern for short-term performance.

Standalone Revenue from operations declined to ₹2,902.2 million in Q3 FY26 from ₹3,751.9 million in Q2 FY26.
Reported a Net Loss of ₹621.85 million for the quarter, compared to a profit of ₹371.01 million in the preceding quarter.
Exceptional items of ₹70.9 million included ₹41.47 million for one-time employee settlements and merger-related expenses.
9M FY26 revenue improved to ₹9,864.2 million from ₹8,221.8 million in the corresponding period last year.
Ongoing Composite Scheme of Arrangement involves amalgamation with multiple entities including Brooks Steriscience and Steriscience Pte.

💡 Investors should monitor the progress of the Composite Scheme of Arrangement and the company's ability to stabilize margins post-merger. The current operational loss and revenue contraction suggest a cautious approach is warranted until post-merger synergies are realized.

OneSource Specialty Pharma Reports Q3 FY26 Net Loss of ₹621.85 Million; Revenue Down 22.6% QoQ

🔴 NEGATIVE ⭐ 8/10

EARNINGS 📅 23 Jan 2026, 09:19 PM

OneSource Specialty Pharma Limited (formerly Stelis Biopharma) reported a standalone net loss of ₹621.85 million for the quarter ended December 31, 2025, a sharp reversal from the ₹371.01 million profit in the previous quarter. Revenue from operations declined 22.6% sequentially to ₹2,902.20 million. The bottom line was further impacted by ₹70.90 million in exceptional costs related to employee settlements and labor code adjustments. The company is currently in the process of a major corporate restructuring through a composite scheme of arrangement to merge multiple entities.

Revenue from operations decreased to ₹2,902.20 million from ₹3,751.87 million in the previous quarter.
Swung to a net loss of ₹621.85 million in Q3 FY26 from a profit of ₹371.01 million in Q2 FY26.
Exceptional items of ₹70.90 million recorded for employee separation settlements and new labor code impacts.
Finance costs remained significant at ₹379.85 million for the quarter.
Ongoing 'Composite Scheme of Arrangement' aims to merge Steriscience and Brooks Steriscience with the company.

💡 The company is in a volatile transition phase due to declining quarterly revenues and an ongoing massive merger. Investors should remain cautious and monitor the regulatory approvals for the amalgamation scheme which will redefine the company's capital structure.

OneSource Specialty Pharma Allots 36,065 Equity Shares Under ESOP 2021

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 21 Jan 2026, 06:14 PM

OneSource Specialty Pharma Limited has allotted 36,065 equity shares to eligible employees following the exercise of vested options under the OneSource ESOP 2021 scheme. The shares were issued at an exercise price of INR 278 per share, which includes a premium of INR 277 per share. This allotment has resulted in a marginal increase in the company's paid-up share capital from INR 11,45,85,136 to INR 11,46,21,201. The newly allotted shares will rank pari passu with the existing equity shares of the company.

Allotment of 36,065 equity shares with a face value of INR 1 each.
Exercise price for the options was set at INR 278 per share.
Total paid-up share capital increased to 11,46,21,201 equity shares.
The allotment was approved by the Management Committee on January 21, 2026.
The new shares carry the same rights as existing equity shares (pari passu).

💡 This is a routine administrative update regarding employee compensation and involves negligible equity dilution. No specific action is required from investors.

OneSource Specialty Pharma to Host Q3 FY26 Earnings Call on January 24, 2026

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 19 Jan 2026, 03:54 PM

OneSource Specialty Pharma Limited has scheduled its earnings conference call for Saturday, January 24, 2026, at 9:30 AM IST. The call is intended to discuss the unaudited financial results for the third quarter ended December 31, 2025. Senior leadership, including Founder Arun Kumar, CEO Neeraj Sharma, and CFO Anurag Bhagania, will be present to address investor queries. This is a routine but important event for stakeholders to assess the company's performance following its rebranding from Stelis Biopharma.

Earnings call scheduled for January 24, 2026, at 09:30 AM IST.
Focus on unaudited financial results for the quarter ended December 31, 2025 (Q3 FY26).
Senior management participation including Founder, CEO, and CFO.
Universal access dial-in numbers provided: +91 22 6280 1372 and +91 22 7115 8193.

💡 Investors should attend or review the transcript of the call to understand the company's growth trajectory and operational updates in the specialty pharma CDMO space.

View All ONESOURCE Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

OneSource reported H1 FY26 revenue of INR 7,030 million, representing a 12% YoY growth. The proforma combined revenue for H1 FY26 reached $110 million, driven by the integration of CDMO businesses from Strides and Steriscience.

Geographic Revenue Split

The company derives 100% of its revenue from international markets, with 50% specifically coming from the US market. Production is primarily based in India and exported to regulated, growth, and access markets.

Profitability Margins

In Q2 FY26, the company reported an adjusted PAT of INR 449 million. The company achieved a break-even PBILDT for the first time in Q4 FY24, following a net loss of INR 391 crores in FY24 and INR 800 crores in FY23.

EBITDA Margin

EBITDA margin for Q2 FY26 expanded to 28%, a 506 basis point improvement YoY. Proforma combined EBITDA margin for H1 FY26 stood at 30% ($33 million EBITDA on $110 million revenue).

Capital Expenditure

The company is utilizing proceeds from a pre-listing fundraise for capex to add new capacity, with a typical lead time of two years. New capacity is expected to be operational by calendar year 2026.

Credit Rating & Borrowing

CARE Ratings reaffirmed ratings, noting that net debt to PBILDT is expected to fall below 2.5x by March 2025. Net debt for the incoming business stands at $11.5 million as of September 30, 2025, trending toward $7-$8 million.

⚙️ Operational Drivers

Import Sources

Production is centered in India, with finished products exported to overseas subsidiaries for sale in approximately 100 countries.

Capacity Expansion

Current installed capacity for the DDC (Sterile Injectables) business is 40 million units, with deliverable capacity ranging between 15 million to 20 million units. Expansion is planned for completion in CY 2026.

Raw Material Costs

Raw material price volatility contributed to margin moderation in FY22. The company uses natural hedges and forward covers to mitigate these costs and forex fluctuations.

Manufacturing Efficiency

Working capital utilization was at 90% for the 12 months ending April 2024. The company operates 7 manufacturing facilities, 4 of which are US FDA approved.

Logistics & Distribution

Distribution spans approximately 100 countries, with significant exposure to regulated markets like the USA and UK.

📈 Strategic Growth

Expected Growth Rate

12%

Growth Strategy

Growth will be achieved through an integrated CDMO model combining Biologics, Sterile Injectables, and Softgel. Strategies include cross-selling (12 common customers across modalities), 26 new RFP wins in a single quarter, and a material profit-share partnership with NATCO for first-to-file opportunities.

Products & Services

CDMO services for Biologics, Sterile Injectables, Softgel, and GLP-1 products.

Brand Portfolio

OneSource Specialty Pharma Limited (formerly Stelis Biopharma Limited).

New Products/Services

First Commercial Service Agreement (CSA) for a GLP-1 launch expected in FY25; 26 new RFPs added in the most recent quarter.

Market Expansion

Expansion into 100 countries with a focus on regulated markets; non-Canadian markets expected to open up from April 2026.

Strategic Alliances

Partnership with NATCO for profit-sharing on first-to-file SKUs; backing from global and local PE players.

🌍 External Factors

Industry Trends

The CDMO industry is evolving toward integrated service providers. OneSource is positioning itself as a single-source partner for Biologics and complex injectables to capture higher wallet share.

Competitive Landscape

Competes with established global CDMO players; currently has a moderate size and requires volume growth for operational efficiencies.

Competitive Moat

Moat is built on 4 USFDA-approved facilities, an integrated 'OneSource' modality model that encourages cross-selling, and a 2-year lead time barrier for competitors to add similar sterile capacity.