Morepen Laboratories has scheduled its 41st Annual General Meeting for Saturday, September 26, 2026, with the Board proposing a final dividend of ₹0.20 per equity share for FY26. The record date for the dividend is Saturday, September 19, 2026, with remote e-voting running from September 23 to September 25, 2026. The company has released the web-link to its FY26 annual report on September 2, 2026, alongside details for remote e-voting. Standalone net profit after tax of ₹6,605.75 Lakhs has been carried forward to retained earnings, with the dividend payout ratio for the year at 16.44%. The AGM will address significant corporate governance changes, including the elevation of Mr. Sanjay Suri from Whole-Time Director to Managing Director effective July 1, 2026, and the reappointment of Mr. Sushil Suri as Chairman & Managing Director for three years from October 20, 2026.
Morepen Laboratories' share price has zoomed 126.5% over the last one year, moving from ₹48.2 to ₹109.1, significantly outperforming the BSE HEALTHCARE index which gained 16.6% during the same period. The stock is currently trading at ₹109.1, up 5% in today's session, while the BSE HEALTHCARE index stands at 51,062.9, down 0.4%. The pharmaceutical company's price-to-earnings ratio based on rolling 12-month earnings stands at 42.5, reflecting strong investor confidence in its growth trajectory. The stock has zoomed 112% in the past six weeks after reporting strong earnings for the June 2026 quarter (Q1FY27), with the current price representing its highest level since 2001, having previously hit a record high of ₹234 on March 30, 2000.
The latest quarterly results demonstrate continued exceptional performance with net profit surging 394% year-on-year to ₹563 million for Q1FY27, compared with ₹114 million in the same quarter last year. Net sales rose 34.1% to ₹5,701 million during the period as against ₹4,252 million in April-June 2025. The company's revenue increased by 34% YoY to ₹575.31 crore, up from ₹429.64 crore in the June quarter of the previous fiscal year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) surged by 207% YoY to ₹87.72 crore, while EBITDA margin stood at 15.25%, showing an improvement of 6.65% in the quarter under review. The management attributed the strong performance to better operating leverage, improved performance on the active pharmaceutical ingredient (API) front, strong export growth and full-scale commercialization of the contract development and manufacturing organization (CDMO) mandate.
The first quarter marked a major strategic milestone with the ₹825 crore CDMO mandate entering full scale commercialization phase, as reported by Business Standard. The company completed ₹58 crore worth of commercial CDMO dispatches during the quarter, marking the commercial validation of its Morepen 2.0 strategy. This strategy focuses on moving from traditional commodity APIs toward innovation-led manufacturing, long-duration CDMO partnerships, recurring customer programs and a scalable operating platform. The management noted that with API profitability recovering, exports growing strongly and Medical Devices continuing to scale as a second growth engine, Morepen is entering the next phase with greater confidence.
For the financial year ended March 31, 2026, standalone revenue growth of 8.39% was delivered, while consolidated revenues remained broadly stable. The Medical Devices segment delivered strong year-on-year growth of 20.13%, with revenues increasing to ₹59,698.01 Lakhs from ₹49,692.61 Lakhs. The segment achieved a five-year CAGR of 9.26%. Product categories showed robust performance with Blood Glucose Monitoring revenues of ₹45,924.04 Lakhs (18.73% YoY growth), Blood Pressure Monitoring at ₹10,491.50 Lakhs (15.57% YoY growth), Nebulisers at ₹1,733.36 Lakhs (300.16% YoY growth), and Thermometers at ₹790.45 Lakhs (37.56% YoY growth). The Finished Formulations business reported revenue of ₹16,678.57 Lakhs compared with ₹17,748.07 Lakhs in the previous year, while the Contract Manufacturing business grew 32.33% to ₹8,488.63 Lakhs from ₹6,414.63 Lakhs. Export revenues increased 13.01% to ₹80,268.87 Lakhs from ₹71,027.89 Lakhs.
