1. At a Glance
Bold growth, bolder losses. Q1 FY26 saw 12% revenue growth and a 37% EBITDA surge, yet a consolidated loss of ₹44 million thanks to ₹29 million legal charges. Standalone profit of ₹248 million provided some cheer. Promoters keep selling, litigation keeps biting, and the company is out shopping for USFDA-approved Steriscience sites. Investors? Hold your horses.
2. Introduction
Ladies and gentlemen, meet OneSource Specialty Pharma Ltd (OSSPL) – the biotech CDMO kid spun out of Strides Pharma, now sprinting like it’s on GLP-1. The company specializes in contract manufacturing of complex injectables, biosimilars, and drug-device combos. Q1 FY26 results read like a Bollywood thriller: revenue rising, EBITDA flexing, but bottom line playing hide and seek. Add in litigation drama, promoter stake drop, and acquisition gossip – and you have all the ingredients for a high-volatility scrip. Let’s put this under the auditor’s microscope, with a touch of sarcasm.
3. Business Model (WTF Do They Even Do?)
OneSource is India’s answer to the global need for complex injectable biologics. It provides Contract Development and Manufacturing (CDMO) services across the value chain: pre-clinical, clinical, and commercial. The product basket includes:
- Injectables (Sterile & Lyophilized)
- GLP-1 generics (Semaglutide, etc.)
- Drug-Device Combination (DDC) products
- Peptides & complex biologics
Clients: global pharma and
