CMP: ₹1,194.70 | Up 1.17% | EPS: ₹15.56 | Revenue: ₹8,382 Cr | P/E: 19.2x
📌 At a Glance
Aurobindo Pharma reported Q4FY25 consolidated revenue of ₹8,382 Cr (up 10.6% YoY) with a net profit of ₹903 Cr. US and Europe drove the show, while growth markets took a nap. Margins held firm despite R&D spends of ₹423 Cr. 5 ANDAs were finally approved in Q4. And the company continues to fire on all cylinders globally.
🏢 About the Company
- HQ: Hyderabad, India
- Listed On: NSE (AUROPHARMA), BSE (524804)
- Founded: 1986
- Global Reach: 150+ countries
- Facilities: 30+ USFDA-approved plants
- Segments: Generics, APIs, ARVs, specialty drugs, R&D, biosimilars
Aurobindo is that pharma nerd in class who never speaks — but always tops the board exams (and the USFDA exam).
👨⚕️ Key Management
- K. Nithyananda Reddy – Vice-Chairman & MD
“All-time high sales and EBITDA. Europe closing in on $1B. We’ve built a revenue rocket, now launching it.”
📊 Q4 FY25 Financials
| Metric | Q4 FY25 | Q4 FY24 | YoY % | Q3 FY25 | QoQ % |
|---|---|---|---|---|---|
| Revenue from Operations | ₹8,382 Cr | ₹7,580 Cr | +10.6% | ₹7,979 Cr | +5.1% |
| EBITDA (before R&D) | ₹2,202 Cr | ₹2,056 Cr | +7.1% | ₹2,056 Cr | +7.1% |
| EBITDA Margin (pre-R&D) | 26.3% | 27.1% | -85 bps | 25.8% | +51 bps |
| EBITDA (ex Forex/Other Inc.) | ₹1,792 Cr | ₹1,687 Cr | +6.2% | ₹1,628 Cr | +10.1% |
| Net Profit | ₹903 Cr | ₹907 Cr | -0.5% | ₹846 Cr | +6.7% |
| EPS | ₹15.56 | ₹15.61 | Flat | ₹14.58 | Up |
Margins stayed rock solid, even with R&D at 5% of revenue.
🌍 Revenue Breakdown (Q4FY25)
| Segment | ₹ Cr | YoY Growth | Share of Total |
|---|---|---|---|
| 🇺🇸 US | 4,072 | +13.5% | 48.6% |
| 🇪🇺 Europe | 2,147 | +17.2% | 25.6% |
| 🌏 Growth Mkts | 786 | -7.8% | 9.4% |
| 💊 ARVs | 308 | +29.4% | 3.7% |
| 🧪 API | 1,069 | +5.0% | 12.8% |
If this was a cricket scorecard, the US would be Virat Kohli and Europe would be Surya Kumar Yadav — with Growth Markets playing the role of Rishabh Pant post-injury.
🔬 R&D & Regulatory Pipeline
| Item | Q4FY25 |
|---|---|
| US ANDAs filed | 9 |
| Final ANDA approvals (including 2 upgrades) | 5 |
| Total USFDA filings till date | 861 |
| Final approvals till date | 690 |
| Tentative approvals | 29 |
💡 Final Approvals in Q4FY25:
- Tretinoin Gel 0.01%, 0.025%
- Nystatin Cream
- Azelastine Nasal Spray (OTC)
- Pantoprazole Oral Suspension
🧪 API Business Breakdown
| Category | ₹ Cr | YoY Growth |
|---|---|---|
| Beta-lactam | 789 | +13.1% |
| Non-Beta-lactam | 280 | -12.6% |
| Total API | 1,069 | +5.0% |
Despite headwinds in pricing, the API division is holding its own — thanks to strong US and regulated market demand.
🌎 Geographic Mix (FY25)
| Geography | Revenue ₹ Cr | Growth |
|---|---|---|
| US | ₹14,816 | +6.8% |
| Europe | ₹8,356 | +16.6% |
| Growth Markets | ₹3,180 | +26.3% |
| ARVs | ₹1,037 | +19.4% |
| Domestic | ₹382 | Flat |
Europe has officially become Aurobindo’s most loyal growth market. Growth markets grew for the year despite a Q4 dip.
💹 EduFair Valuation
| Metric | Value |
|---|---|
| TTM EPS | ₹61.5 |
| CMP | ₹1,194.70 |
| P/E (TTM) | 19.4x |
| EduFair P/E Target | 22x |
| Fair Value (FV) | ₹1,353 |
💥 Upside Potential: ~13% on conservative FY25 numbers. If margin expansion sustains in FY26, that could shoot up.
🧠 EduInvesting Take
“Aurobindo is like that boring 1st bencher who just keeps acing every USFDA exam and never asks for attention.”
- Steady profit machine 💸
- Europe becoming a ₹10,000 Cr business 💶
- US base growing despite high competition 🇺🇸
- API engine humming at 5% growth 🧪
- Valuation not cheap, but not frothy either
If Sun Pharma is Shah Rukh Khan, Aurobindo is Irrfan Khan — quiet, brilliant, and always consistent.
⚠️ Risks & Red Flags
- Growth Markets volatility (esp. Africa, LatAm)
- Domestic business stagnant
- API pricing pressure may intensify
- ANDA approval timelines uncertain
- Margin compression if R&D rises
🏷️ Tags:
Aurobindo Pharma FY25 Results, AUROPHARMA Q4 Earnings, USFDA ANDA approvals, API revenue India, India pharma exports, undervalued pharma stock, generic formulations, EduInvesting
