Brooks Laboratories Ltd Q3 FY26 — ₹65.5 Cr Quarterly Revenue, ₹23.1 Cr PAT, but Still Trading Like a Confused Generic Pharma Cousin

1. At a Glance

Brooks Laboratories Ltd is that classic “silent backbencher who suddenly topped one exam” kind of stock. Market cap around ₹179 crore, current price ₹60.9, and in the last 3 months it’s down ~41%, which tells you the market is still not convinced by its recent profit spike.

And yet… Q3 FY26 numbers slapped hard:

• Revenue: ₹65.5 crore
• PAT: ₹23.1 crore
• Quarterly EPS: ₹1.87
• TTM EPS: ₹7.33
• P/E: ~8.3 (when industry median is ~29)

Debt? Barely ₹8 crore.
Interest coverage? 22x.
Promoter holding? 52.6%, though steadily melting like kulfi in May.

This is a contract pharma manufacturer sitting in Baddi, doing injections, tablets, dry powders, tender supplies, exports to politically adventurous countries, and occasionally surprising everyone with profits driven by… Other Income (yes, we’ll come to that).

So the big question: Is Brooks finally healing, or is this just a temporary antibiotic shot?

2. Introduction

Brooks Laboratories was incorporated in 2002 and has spent most of its life oscillating between “almost profitable” and “please wait next year.”

For years, the company was bleeding because of its Vadodara unit, which was eventually transferred to a JV — Brooks Steriscience Limited — in FY21 via a slump sale. That move finally pushed Brooks into profitability in FY22.

Then FY23 happened.
API prices went wild, margins evaporated, and Brooks went back to losses — because obviously stability is overrated.

Now suddenly in FY25–FY26, Brooks has posted one of its strongest quarters ever, helped by:

• Lower costs
• Decent operating margin recovery
• And a fat slab of other income

The market, however, isn’t clapping yet. Maybe because Brooks has a long history of one step forward, two steps sideways.

So let’s decode whether Q3 FY26 is a genuine turnaround or just a