Rubicon Research surges after Q3 PAT jumps 91% YoY to Rs 73 cr

Profit before tax (PBT) jumped 70.42% YoY to Rs 90.58 crore in Q3 FY26.

EBITDA stood at Rs 111.9 crore during the quarter, recording the growth of 59% compared with Rs 70.4 crore in Q3 FY25. EBITDA margin improved 23.5% in Q3 FY26 as against 22.3% in Q3 FY25.

Revenue grew 52% year-on-year during the quarter, driven by broad-based performance. The top five products contributed 35% of total revenue in Q3 FY26, up from 30% in Q2 FY26 and 34% in Q1 FY26. Meanwhile, the top 10 products accounted for 53% of revenue, compared with 51% in Q2 FY26 and 56% in Q1 FY26.

Reasearch & Development (R&D) expense climbed 100.38% to Rs 52.3 crore, compared with Rs 26.1 crore posted in corresponding quarter last year. R&D expenses were 11.0% of operating revenue in Q3 FY26.

In dollar terms, the revenue stood at $53 million in Q3 FY26, up 46% YoY. Approximately 98% of the revenue was denominated in US dollars.

Meanwhile, the company's board granted in-principle approval for the merger of KIA Health Tech, wholly owned subsidiary of the company, with Rubicon Research and their shareholders.

Rubicon Research is a pharmaceutical formulations company focused on innovation-led research and development, with a growing portfolio of specialty products and drug'device combination offerings aimed at regulated markets.

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