Senores Pharma Q4 Results: Stock drops 5% on sequential earnings weakness

Senores Pharmaceuticals shares fell over 5% on Thursday despite the company reporting strong year-on-year growth in its March quarter earnings, as investors appeared concerned over sequential weakness in operating performance. The stock declined to ₹918.85 on the NSE after the earnings announcement.

The company reported a 77.5% rise in net profit to ₹31.6 crore for the fourth quarter, compared with ₹17.8 crore in the year-ago period.

Revenue from operations climbed 53.4% year-on-year to ₹175.2 crore, while EBITDA surged to ₹47.5 crore from ₹19.4 crore a year earlier. EBITDA margin expanded sharply to 27.1% from 17%.

However, on a sequential basis, earnings momentum weakened. Revenue remained largely flat compared with the December quarter, while EBITDA dropped 43.4% quarter-on-quarter to ₹30.6 crore from ₹54 crore. Margins also narrowed sharply to 17.4% from 30.9% in Q3FY26, indicating pressure on profitability despite sustained revenue growth. Profit after tax rose 9.2% sequentially to ₹36.7 crore.

Management said the company continued to deliver steady growth despite an uncertain operating environment, supported by execution across regulated and emerging markets.

Senores expanded its approved ANDA portfolio from 26 products in March 2025 to 51 approved ANDAs by March 2026, with more than 30 products yet to be commercialised. Another 27 molecules involving over 65 strengths remain under development, providing long-term growth visibility.

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The company also highlighted progress in strengthening its US business. Senores acquired a majority stake in Zoraya Pharmaceuticals to bolster its US marketing and distribution presence and entered into a joint venture, Amerisyn, to access the US federal and veterans healthcare procurement market.

Additionally, Senores said the Apnar Pharmaceuticals acquisition is expected to scale meaningfully over the next 12-18 months, aided by product launches and manufacturing expansion. Emerging markets operations also turned cash flow positive during the year, with EBITDA margins improving into the mid-teens range.