# Onesource Specialty Pharma (ONESOURCE) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/onesource

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹1,600
- Change: +1.14%
- As of: 2026-11-06
- 1D return: +1.14%
- 5D return: +2.37%
- 1M return: +8.24%
- Latest complete quarter: fy27_q2

## Faxioms Analysis

_As of 2026-11-06_

### Technical Outlook

ONESOURCE is trading at ₹1600.00 on 2026-11-06, positioned near the upper end of its recent ranges (+86.4% in the 20-day range). The daily trend is established and bullish, with price holding above all key moving averages (EMA/SMA 20/50) and the Supertrend indicator. ADX at 28.63 confirms moderate trend strength on this horizon. However, a conflicting structure exists on higher timeframes: the monthly trend is bearish (Supertrend down, weak ADX 8.92), and the weekly trend is also bearish despite price being above moving averages. Recent anomalies include extreme volume spikes on 2026-10-27 (+13.8% return, 36x volume ratio) and high participation without clear direction on 2026-10-30. Today’s candlestick formation is a Harami, suggesting potential indecision or consolidation after the recent rally. Risk remains elevated with annualized volatility at +44.1% and a current drawdown of -27.2%. Immediate resistance lies at ₹1627.30 (+1.71%), while support is tight at ₹1598.60 (-0.09%).

- Daily Trend: Bullish and established (ADX 28.63); price above all daily MAs and Supertrend.
- Higher-Timeframe Conflict: Monthly and Weekly trends remain bearish (Supertrend down), indicating structural resistance to further upside.
- Price Positioning: Trading at ₹1600.00, near the top of the 20-day (+86.4%) and 50-day (+82.9%) ranges.
- Risk & Volatility: High volatility (+44.1% annualized) and significant recent drawdown (-27.2%) persist.
- Key Levels: Resistance at ₹1627.30; immediate pivot support at ₹1598.60.

- Harami
- Doji
- Bullish Engulfing Reversal
- Outside Bar
- Inside Bar

### News Context

Onesource Specialty Pharma (NSE: ONESOURCE) reported strong Q2 FY27 financials, with consolidated revenue rising 37% year-on-year to over ₹5 billion and EBITDA margins expanding to 32%. Management reaffirmed full-year FY28 guidance of $400 million in revenue and $160 million in EBITDA, citing robust demand in semaglutide markets. Operationally, the company has doubled its sterile production capacity by making Line 2 operational, while Line 3 is undergoing qualification for potential commercialization in FY28. Regulatory progress was marked by a USFDA 'Voluntary Action Indicated' (VAI) classification for its Bengaluru Sterile Product Division facility, completing an inspection conducted in June 2026. The company also announced participation in the Jefferies Global Healthcare Conference in London from November 16–19, 2026, where representatives will discuss strategy without sharing unpublished price-sensitive information. Financially, the group recorded a profit after tax of ₹249.97 million for the quarter, though it faced ₹99.27 million in exceptional losses linked to legacy litigation with Prestige Biopharma Limited. Additionally, borrowings were retrospectively reclassified due to an MCA amendment regarding covenant breaches.

- Q2 FY27 Revenue Growth: Consolidated revenue increased 37% year-on-year to over ₹5 billion, with EBITDA margins expanding to 32%; management reaffirmed FY28 guidance of $400 million revenue and $160 million EBITDA.
- Capacity Expansion: Line 2 of the Drug Device Combination sterile production facility is now operational, doubling total sterile production days, while Line 3 is in qualification phase for FY28 commercialization.
- Regulatory Milestone: Received a USFDA Establishment Inspection Report with a 'Voluntary Action Indicated' (VAI) classification for the Bengaluru Sterile Product Division, concluding an inspection from June 22–30, 2026.
- Financial Adjustments & Litigation: Reported ₹99.27 million in exceptional losses primarily from legal charges related to legacy litigation with Prestige Biopharma Limited; borrowings were retrospectively reclassified from non-current to current liabilities due to an MCA amendment on covenant breaches.

- Onesource Specialty Pharma Limited has informed the Exchange about the Participation in Jefferies Global Healthcare Conference to be held from November 16, 2026 to November 19, 2026 in London. |SUBJECT: General Updates
- Onesource Specialty Pharma Limited has given an intimation of Transcript of Earnings call dated October 27, 2026 |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
- Onesource Specialty Pharma Limited has informed the Exchange regarding a press release dated October 30, 2026, titled "OneSource Receives USFDA EIR with VAI Classification, Marking Completion of Inspection Process at its Sterile Product Division (SPD) Facility in Bengaluru". |SUBJECT: Press Release
- Onesource Specialty Pharma Limited has informed the Exchange about Copy of Newspaper Publication - Extract of Unaudited Standalone and Consolidated Financial Results for the quarter and half year ended September 30, 2026 |SUBJECT: Copy of Newspaper Publication
- Onesource Specialty Pharma Limited has submitted to the Exchange, the unaudited financial results (Standalone and Consolidated) for the quarter and half year ended September 30, 2026. |SUBJECT: Outcome of Board Meeting

### Official Filings

OneSource Specialty Pharma reported Q2 FY27 results showing consolidated revenue of ₹4,490.23 million and profit after tax of ₹249.97 million for the quarter ended September 30, 2026. Management cited a 37% year-on-year revenue increase and 53% EBITDA growth with margins expanding to 32%. The company reaffirmed full-year FY28 guidance of $400 million in revenue and $160 million in EBITDA. A significant accounting change involved the retrospective reclassification of ₹3,676.84 million in borrowings from non-current to current liabilities due to an MCA amendment regarding covenant breaches. Additionally, the Group recorded ₹99.27 million in exceptional losses primarily driven by legal charges related to legacy litigation with Prestige Biopharma Limited concerning the Sputnik vaccine contract.

Regulatory progress includes the receipt of a USFDA Establishment Inspection Report (EIR) with a 'Voluntary Action Indicated' (VAI) classification for its Sterile Product Division facility in Bengaluru, marking the completion of an inspection conducted from June 22 to June 30, 2026. Operational updates confirmed that Line 2 of its Drug Device Combination sterile production capacity is now operational, doubling total sterile production days, while Line 3 has arrived in India and is undergoing qualification for potential commercialization in FY28.

Governance changes include the designation of Dr. Claudio Albrecht from Independent Director to Non-Executive Non-Independent Director, subject to shareholder approval. The Board also approved the allotment of 360 equity shares under the ESOP 2021 at an exercise price of ₹278.00 per share, increasing paid-up capital from ₹11,46,73,791 to ₹11,46,74,151. The company will participate in the Jefferies Global Healthcare Conference in London from November 16 to November 19, 2026, discussing publicly available information without sharing unpublished price sensitive information.

- Q2 FY27 Consolidated Revenue: ₹4,490.23 million; PAT: ₹249.97 million. Year-to-date revenue stands at ₹9,652.65 million with PAT of ₹824.81 million.
- Guidance Reaffirmation: Full-year FY28 targets set at $400 million revenue and $160 million EBITDA, supported by demand in semaglutide markets and new biologics project wins.
- Accounting & Legal Items: Retrospective reclassification of ₹3,676.84 million borrowings from non-current to current liabilities due to MCA covenant breach amendments; ₹99.27 million exceptional losses recorded from legacy litigation with Prestige Biopharma Limited.
- Operational & Regulatory Milestones: USFDA VAI classification received for Bengaluru SPD facility post-inspection (June 22–30, 2026); Line 2 sterile capacity operational, doubling production days; Line 3 arriving for FY28 qualification.

- [Onesource Specialty Pharma Limited has informed the Exchange about the Participation in Jefferies Global Healthcare Conference to be held from November 16, 2026 to November 19, 2026 in London. |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_05112026114821_OS_Jefferies_Conference.pdf)
- [Onesource Specialty Pharma Limited has given an intimation of Transcript of Earnings call dated October 27, 2026 |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_03112026133250_OS_Transcript.pdf)
- [Onesource Specialty Pharma Limited has informed the Exchange regarding a press release dated October 30, 2026, titled "OneSource Receives USFDA EIR with VAI Classification, Marking Completion of Inspection Process at its Sterile Product Division (SPD) Facility in Bengaluru". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_30102026141033_OS_PR_USFDA_Approval.pdf)
- [Onesource Specialty Pharma Limited has informed the Exchange about Copy of Newspaper Publication - Extract of Unaudited Standalone and Consolidated Financial Results for the quarter and half year ended September 30, 2026 |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_28102026155711_OS_Intimation_Newspaper_Adv_Q2FY27_.pdf)
- [Onesource Specialty Pharma Limited has submitted to the Exchange, the unaudited financial results (Standalone and Consolidated) for the quarter and half year ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_27102026100700_OS_Intimation_Outcome_of_BM_27Oct2026_s.pdf)
- [Onesource Specialty Pharma Limited has informed the Exchange regarding Change in Director(s) of the company. |SUBJECT: Change in Director(s)](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_27102026101511_OS_Claudio_Intimation.pdf)
- [Onesource Specialty Pharma Limited has informed the Exchange regarding 'Allotment of 360 Equity Shares of INR. 1/- each, under ONESOURCE ESOP 2021'. |SUBJECT: Updates](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_27102026102445_OS_ESOP.pdf)
- [Onesource Specialty Pharma Limited has informed the Exchange regarding a press release dated October 27, 2026, titled "OneSource Announces Strong Q2FY27 ResultsRevenue up 37% YoY and EBITDA up 53% YoY". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_27102026104146_OS_PR_IR.pdf)
- [ONESOURCE SPECIALTY PHARMA LIMITED has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_25055_WebXMLFile_20261027_105427972.xml)
- [ONESOURCE SPECIALTY PHARMA LIMITED has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_25055_WebXMLFile_20261027_110353197.xml)

### Fundamentals

Onesource Specialty Pharma demonstrates a sharp operational turnaround in Q2 FY2026-27, with revenue from operations surging to ₹965 crore from ₹449 crore in Q1. This growth is accompanied by improved profitability: net profit rose to ₹82.5 crore (EPS of ₹7.19) compared to ₹25 crore (EPS of ₹2.18) in the prior quarter. However, earnings quality remains under scrutiny as cash flow metrics show divergence; while annual CFO/EBITDA improved to 6.0% in Mar 2026 from -13.0%, the Cash Conversion Cycle deteriorated significantly to 308 days in Mar 2026 from 180 days in Mar 2025, driven by rising Debtor Days (177 days) and Inventory Days (438 days). Balance sheet leverage increased, with borrowings rising to ₹1,755 crore by Sep 2026 and total liabilities growing to ₹2,665 crore. Despite strong sequential sales momentum, long-term returns remain weak, with ROE at -1% for the last year and ROCE dropping to 1.0% in Mar 2026.

- Q2 FY2026-27 revenue jumped to ₹965 crore (+115% sequentially), with net profit reaching ₹82.5 crore and EPS of ₹7.19, marking a strong recovery from Q1 losses.
- Working capital efficiency has weakened materially; the Cash Conversion Cycle expanded to 308 days in Mar 2026, with Inventory Days nearly doubling to 438 days.
- Leverage is increasing: Borrowings grew to ₹1,755 crore by Sep 2026, and total liabilities rose to ₹2,665 crore, while ROCE fell to 1.0% in Mar 2026.
- Next checkpoint: Monitor whether Q3 FY2026-27 results sustain operating margins and if cash conversion improves amid higher receivables and inventory levels.

### Bear Case

Onesource Specialty Pharma faces significant near-term technical headwinds and elevated volatility, as of November 6, 2026. While the daily trend is currently bullish with a closing price of ₹1,600.00, the broader monthly and weekly trends remain bearish, indicating underlying structural weakness. The stock has suffered a maximum drawdown of -49.3% and is currently in a -27.2% drawdown from its peak, reflecting substantial recent losses. Annualized volatility stands at +44.1%, suggesting high price instability for investors. Performance metrics show a challenging backdrop: the stock is down -10.5% year-to-date and -10.8% over the past year, despite short-term gains of +1.1% in the last day and +4.2% over the last month. Immediate resistance lies at ₹1,627.30 (1.71% above), while support is tightly clustered near the pivot at ₹1,598.60. Investors should monitor whether the price can sustainably break above the ₹1,627.30 resistance level to confirm a reversal of the longer-term bearish momentum.

- Broader trends are bearish: Monthly and weekly Supertrend directions are bearish, contrasting with the daily bullish signal, highlighting conflicting time-horizon signals.
- Significant drawdown risk: The stock is currently experiencing a -27.2% drawdown, following a historical maximum drawdown of -49.3%, with annualized volatility at +44.1%.
- Negative medium-term performance: Year-to-date return is -10.5% and one-year return is -10.8%, indicating persistent underperformance relative to start-of-period levels.
- Key technical levels: Immediate resistance is at ₹1,627.30 (+1.71%), while immediate support is at the pivot level of ₹1,598.60 (-0.09%); a break below support could expose further downside to ₹1,553.20.

- [Onesource Specialty Pharma Limited has informed the Exchange about the Participation in Jefferies Global Healthcare Conference to be held from November 16, 2026 to November 19, 2026 in London. |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_05112026114821_OS_Jefferies_Conference.pdf)
- [Onesource Specialty Pharma Limited has given an intimation of Transcript of Earnings call dated October 27, 2026 |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_03112026133250_OS_Transcript.pdf)
- [Onesource Specialty Pharma Limited has informed the Exchange regarding a press release dated October 30, 2026, titled "OneSource Receives USFDA EIR with VAI Classification, Marking Completion of Inspection Process at its Sterile Product Division (SPD) Facility in Bengaluru". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_30102026141033_OS_PR_USFDA_Approval.pdf)
- [Onesource Specialty Pharma Limited has informed the Exchange about Copy of Newspaper Publication - Extract of Unaudited Standalone and Consolidated Financial Results for the quarter and half year ended September 30, 2026 |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_28102026155711_OS_Intimation_Newspaper_Adv_Q2FY27_.pdf)
- [Onesource Specialty Pharma Limited has submitted to the Exchange, the unaudited financial results (Standalone and Consolidated) for the quarter and half year ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_27102026100700_OS_Intimation_Outcome_of_BM_27Oct2026_s.pdf)
- [Onesource Specialty Pharma Limited has informed the Exchange regarding Change in Director(s) of the company. |SUBJECT: Change in Director(s)](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_27102026101511_OS_Claudio_Intimation.pdf)
- [Onesource Specialty Pharma Limited has informed the Exchange regarding 'Allotment of 360 Equity Shares of INR. 1/- each, under ONESOURCE ESOP 2021'. |SUBJECT: Updates](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_27102026102445_OS_ESOP.pdf)
- [Onesource Specialty Pharma Limited has informed the Exchange regarding a press release dated October 27, 2026, titled "OneSource Announces Strong Q2FY27 ResultsRevenue up 37% YoY and EBITDA up 53% YoY". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_27102026104146_OS_PR_IR.pdf)
- [ONESOURCE SPECIALTY PHARMA LIMITED has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_25055_WebXMLFile_20261027_105427972.xml)
- [ONESOURCE SPECIALTY PHARMA LIMITED has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_25055_WebXMLFile_20261027_110353197.xml)

### FAQs

**What were the key financial results for Q2 FY27, and how did they compare to the previous year?**

For the quarter ended September 30, 2026, Onesource Specialty Pharma reported consolidated revenue of ₹4,490.23 million and profit after tax of ₹249.97 million. Management highlighted a 37% year-on-year revenue increase to over ₹5 billion and a 53% year-on-year EBITDA growth, with margins expanding to 32%. The company also recorded ₹99.27 million in exceptional losses primarily due to legal charges related to legacy litigation.

**How has the company's production capacity evolved, and what is the outlook for FY28?**

Line 2 of its Drug Device Combination (DDC) sterile production capacity is now operational, doubling total sterile production days. Line 3 has arrived in India and is undergoing qualification for potential commercialization in FY28. Management reaffirmed full-year FY28 guidance of $400 million in revenue and $160 million in EBITDA, citing strong demand in semaglutide markets and new biologics project wins.

**What regulatory milestones have been achieved recently at the Bengaluru facility?**

Onesource received a USFDA Establishment Inspection Report (EIR) with a 'Voluntary Action Indicated' (VAI) classification for its Sterile Product Division (SPD) facility in Bengaluru. This marks the completion of an inspection conducted from June 22 to June 30, 2026. A VAI classification indicates minor deviations that require correction but do not warrant regulatory action.

**What upcoming events should investors monitor regarding investor relations?**

The company will participate in the Jefferies Global Healthcare Conference held in London from November 16, 2026, to November 19, 2026. Representatives will discuss publicly available information, including business overview, strategy, industry trends, and growth outlook. The company explicitly stated that no unpublished price sensitive information (UPSI) will be shared during these interactions.

- [Onesource Specialty Pharma Limited has informed the Exchange about the Participation in Jefferies Global Healthcare Conference to be held from November 16, 2026 to November 19, 2026 in London. |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_05112026114821_OS_Jefferies_Conference.pdf)
- [Onesource Specialty Pharma Limited has given an intimation of Transcript of Earnings call dated October 27, 2026 |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_03112026133250_OS_Transcript.pdf)
- [Onesource Specialty Pharma Limited has informed the Exchange regarding a press release dated October 30, 2026, titled "OneSource Receives USFDA EIR with VAI Classification, Marking Completion of Inspection Process at its Sterile Product Division (SPD) Facility in Bengaluru". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_30102026141033_OS_PR_USFDA_Approval.pdf)
- [Onesource Specialty Pharma Limited has informed the Exchange about Copy of Newspaper Publication - Extract of Unaudited Standalone and Consolidated Financial Results for the quarter and half year ended September 30, 2026 |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_28102026155711_OS_Intimation_Newspaper_Adv_Q2FY27_.pdf)
- [Onesource Specialty Pharma Limited has submitted to the Exchange, the unaudited financial results (Standalone and Consolidated) for the quarter and half year ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_27102026100700_OS_Intimation_Outcome_of_BM_27Oct2026_s.pdf)
- [Onesource Specialty Pharma Limited has informed the Exchange regarding Change in Director(s) of the company. |SUBJECT: Change in Director(s)](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_27102026101511_OS_Claudio_Intimation.pdf)
- [Onesource Specialty Pharma Limited has informed the Exchange regarding 'Allotment of 360 Equity Shares of INR. 1/- each, under ONESOURCE ESOP 2021'. |SUBJECT: Updates](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_27102026102445_OS_ESOP.pdf)
- [Onesource Specialty Pharma Limited has informed the Exchange regarding a press release dated October 27, 2026, titled "OneSource Announces Strong Q2FY27 ResultsRevenue up 37% YoY and EBITDA up 53% YoY". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_27102026104146_OS_PR_IR.pdf)
- [ONESOURCE SPECIALTY PHARMA LIMITED has informed the Exchange about Change in Directors/KMP/SMP/Auditor/RTA |SUBJECT: Change in Directors/KMP/SMP/Auditor/RTA](https://nsearchives.nseindia.com/corporate/xbrl/CIM_25055_WebXMLFile_20261027_105427972.xml)
- [ONESOURCE SPECIALTY PHARMA LIMITED has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_25055_WebXMLFile_20261027_110353197.xml)
## Technical analytics

- As of: 2026-11-06
- Daily trend: Weak Uptrend
- Weekly trend: Weak Uptrend
- Pivot point: ₹1,598.6
- Risk regime: Price Risk Requires Attention

### Support levels
- 1540.1640625
- 1508.74140625
- 1478

### Resistance levels
- 1641.125
- 1669.53125
- 1752.3953125

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +1.14% |
| return_10 | +19.93% |
| return_1m | +4.18% |
| return_1y | -10.80% |
| return_20 | +8.24% |
| return_3m | +2.76% |
| return_5 | +2.37% |
| return_6m | -8.23% |
| return_since_start | +3.51% |
| return_ytd | -10.50% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | elevated_risk |
| label | Price risk requires attention |
| summary | Recent drawdown or price variability is high enough to warrant closer monitoring. |
| maximum_drawdown | -49.31% |
| annualized_volatility | +44.11% |

## Quarterly financials

- Latest complete quarter: fy27_q2

# Onesource Specialty Pharma Limited FY2026-27 Q2: Revenue rose 115% sequentially

Onesource Specialty Pharma reported consolidated revenue from operations of ₹965 crore for Q2 FY2026-27, up 115% from Q1 and 157% from Q2 FY2025-26. Profit for the period increased to ₹82 crore from ₹25 crore in Q1, while operating cash flow was negative ₹19 crore and borrowings rose from the March-end balance.

## Revenue and profitability

Expenses increased 108% sequentially to ₹891 crore, less than the increase in revenue. Profit before exceptional items and tax was ₹79 crore, compared with ₹25 crore in Q1. An exceptional charge of ₹6 crore brought profit before tax to ₹73 crore, up from ₹20 crore in Q1.

Profit for the period was ₹82 crore, compared with ₹25 crore in Q1 and ₹10 crore in Q2 FY2025-26. A tax benefit of ₹9 crore meant reported profit exceeded profit before tax. Basic and diluted earnings per share were both ₹7.19, versus ₹2.18 in Q1; basic EPS was ₹0.92 in Q2 FY2025-26.

## Costs and finance charges

Q2 expenses included ₹293 crore for materials consumed, ₹146 crore in employee benefit expense and ₹147 crore in depreciation and amortisation. Finance costs rose to ₹65 crore from ₹31 crore in Q1 and ₹34 crore in Q2 FY2025-26, adding to the quarter’s expense burden.

## Cash flow and working capital

Operating activities used ₹19 crore of cash in Q2. Investing activities used ₹128 crore, including ₹171 crore spent on property, plant and equipment. Financing activities generated ₹125 crore: borrowings of ₹442 crore were partly offset by repayments of ₹234 crore and interest paid of ₹70 crore. Cash and cash equivalents decreased by ₹21 crore during the quarter.

Trade receivables were ₹1,033 crore at 30 September 2026, up from ₹690 crore at 31 March 2026. The cash-flow statement recorded a ₹361 crore outflow from the increase in receivables. Inventories stood at ₹446 crore, compared with ₹439 crore at March-end, while trade payables increased to ₹536 crore from ₹375 crore.

Cash and cash equivalents on the balance sheet were ₹14 crore at 30 September 2026, down from ₹104 crore at 31 March 2026.

## Borrowings and asset base

Current borrowings were ₹899 crore and non-current borrowings ₹584 crore at 30 September 2026, for total borrowings of about ₹1,484 crore, compared with ₹1,276 crore at 31 March 2026. Total assets were ₹8,586 crore and equity attributable to owners of the parent was ₹5,921 crore.

Goodwill of ₹3,828 crore and other intangible assets of ₹1,208 crore made up substantial portions of the asset base. Property, plant and equipment increased to ₹1,188 crore from ₹926 crore at March-end, while capital work in progress declined to ₹141 crore from ₹314 crore.

## Key Takeaway

Revenue and profit rose sharply in Q2, but the quarter also brought negative operating cash flow, a substantial receivables-related cash outflow and higher borrowings versus March-end. The earnings improvement therefore coincided with increased working-capital and financing demands.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q1
- As of: 2026-06-30
- Promoter holding: +30.48%
- FII holding: +19.19%
- DII holding: +23.37%
- Mutual fund holding: +12.98%
- Retail holding: +9.31%
- Promoter pledged: +0.00%

### Major reported shareholders

- TENSHI PHARMACEUTICALS PRIVATE LIMITED — +18.40% (Bodies Corporate)
- KARUNA BUSINESS SOLUTIONS LLP — +7.06% (Bodies Corporate)
- MOTILAL OSWAL MUTUAL FUND — +7.06%
- AUTHUM INVESTMENT AND INFRASTRUCTURE LIMITED — +4.96%
- PRONOMZ VENTURES LLP — +2.41% (Bodies Corporate)
- ROUTE ONE OFFSHORE MASTER FUND L.P. — +2.32%
- ROUTE ONE FUND I, L.P. — +2.07%
- SBI LIFE INSURANCE CO. LTD — +2.06%
- AMANSA HOLDINGS PRIVATE LIMITED — +1.86%
- THINK INVESTMENTS PCC — +1.79%

## Official filings

- 2026-11-05 — Generic Announcement: Onesource Specialty Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_05112026114821_OS_Jefferies_Conference.pdf)
- 2026-11-03 — Generic Announcement: Onesource Specialty Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_03112026133250_OS_Transcript.pdf)
- 2026-10-30 — Press Release: Onesource Specialty Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_30102026141033_OS_PR_USFDA_Approval.pdf)
- 2026-10-28 — Generic Announcement: Onesource Specialty Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_28102026155711_OS_Intimation_Newspaper_Adv_Q2FY27_.pdf)
- 2026-10-27 — Generic Announcement: Onesource Specialty Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_27102026100700_OS_Intimation_Outcome_of_BM_27Oct2026_s.pdf)
- 2026-10-27 — Generic Announcement: Onesource Specialty Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_27102026101511_OS_Claudio_Intimation.pdf)
- 2026-10-27 — Generic Announcement: Onesource Specialty Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_27102026102445_OS_ESOP.pdf)
- 2026-10-27 — Press Release: Onesource Specialty Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_27102026104146_OS_PR_IR.pdf)
- 2026-10-27 — Generic Announcement: Onesource Specialty Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CIM_25055_WebXMLFile_20261027_105427972.xml)
- 2026-10-27 — Generic Announcement: Onesource Specialty Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_25055_WebXMLFile_20261027_110353197.xml)
- 2026-10-27 — Financial Results Filing: Onesource Specialty Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1746464_27102026122201_WEB.xml)
- 2026-10-27 — Financial Results Filing: Onesource Specialty Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1746467_27102026122307_WEB.xml)
- 2026-10-27 — Generic Announcement: Onesource Specialty Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_27102026205218_OS_Intimation_Earnings_call_recording.pdf)
- 2026-10-21 — Board Meeting Notice: Onesource Specialty Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_25055_WebXMLFile_20261021_185822065.xml)
- 2026-10-21 — Generic Announcement: Onesource Specialty Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_25055_WebXMLFile_20261021_185822065.xml)
- 2026-10-21 — Board Meeting Notice: Onesource Specialty Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_21102026185529_Intimation_of_Board_Meeting.pdf)
- 2026-10-21 — Generic Announcement: Onesource Specialty Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_21102026190624_Earnings_Call.pdf)
- 2026-09-25 — Generic Announcement: Onesource Specialty Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_25092026175945_OS_AGM_Voting_Results.pdf)
- 2026-09-25 — Generic Announcement: Onesource Specialty Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_25055_WebXMLFile_20260925_180833441.xml)
- 2026-09-25 — Generic Announcement: Onesource Specialty Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_25092026180701_1_Window_Closure_Intimation.pdf)
- 2026-09-25 — Generic Announcement: Onesource Specialty Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ONESOURCECDMO_25092026192552_OS_ESOP.pdf)
- 2026-09-25 — Generic Announcement: Onesource Specialty Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_25055_WebXMLFile_20260925_194037914.xml)
- 2026-09-25 — Generic Announcement: Onesource Specialty Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_25055_WebXMLFile_20260925_193956726.xml)
- 2026-09-25 — Generic Announcement: Onesource Specialty Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_25055_WebXMLFile_20260925_194936103.xml)
- 2026-09-24 — Generic Announcement: Onesource Specialty Pharma Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CIM_25055_WebXMLFile_20260924_230509338.xml)

## News and market events

- 2026-10-27 — Mint: **OneSource Specialty Pharma shares jump 14% after Q2 results; recover 50% from recent lows** — OneSource Specialty Pharma shares rose nearly 14% after the company reported Q2 revenue growth of 37% year-on-year and adjusted profit after tax of ₹93.7 crore. The company maintained its FY28 targets and expects expanded drug-device combination capacity to support future growth. — [Source](https://www.livemint.com/market/stock-market-news/onesource-specialty-pharma-shares-jump-14-after-q2-results-recover-50-from-recent-lows-11793115107385.html)
- 2026-10-27 — FREEPRESSJOURNAL.IN: **OneSource Specialty Pharma Reports Strong Q2 FY27 With 37% Revenue Growth, Adjusted PAT Doubles** — OneSource Specialty Pharma Ltd announced strong financial results for the second quarter of fiscal year 2027, with revenue growing 37 per cent year-on-year and earnings before interest, tax, depreciation, and amortisation (EBITDA) increasing 53 per cent. — [Source](https://www.freepressjournal.in/business/onesource-specialty-pharma-reports-strong-q2-fy27-with-37-revenue-growth-adjusted-pat-doubles)
- 2026-10-27 — MONEYCONTROL: **OneSource Specialty Pharma’s Q2 profit more than doubles on new capacity, volume growth** — OneSource Specialty Pharma’s Q2 profit more than doubles on new capacity, volume growth Follow Us On: Stocks: A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Others Trending Topics more Sensex Today Jio IPO Allotment Jio IPO Listing Date Israel Elections 2026 live Microsoft Buyout news Gyanesh Kumar Benjamin Netanyahu Noel Tata Ather Share Price Anthropic IPO News more Business Markets Stocks India News City News Economy Mutual Funds Personal Finance IPO News Startups Markets more Home Currencies Commodities Pre-Market IPO Global Market US Markets Bonds Silver MCX Price Gold MCX Price Pers — [Source](https://www.moneycontrol.com/news/business/earnings/onesource-specialty-pharma-s-q2-profit-more-than-doubles-on-new-capacity-volume-growth-14061094.html)
- 2026-10-27 — CNBC-TV18: **Onesource Specialty Pharma Q2 Results: Stock jumps 8% on strong operating performance, revenue growth** — Shares of Onesource began trading on the bourses in January 2025 at a price of ₹1,800 per share, a 6.9% to its pre-open discovery price. The stock is still down 23% from its recent 52-week high of ₹1,925. — [Source](https://www.cnbctv18.com/market/onesource-specialty-pharma-q2-results-revenue-growth-margin-expansion-demerged-unit-outlook-share-price-move-20020042.htm)
- 2026-08-18 — BUSINESS: **Nifty trades tad above 24,200 level; European shares decline** — The benchmark indices continued to trade with limited losses in afternoon trade, weighed down by a rise in crude oil prices following the expiry of the US-Iran ceasefire and growing uncertainty over the reopening of the Strait of Hormuz. The Nifty traded tad above the 24,200 mark. IT, FMCG & metal shares declined while auto, oil & gas and pharma stocks managed to trade in the green. — [Source](https://www.business-standard.com/markets/capital-market-news/nifty-trades-tad-above-24-200-level-european-shares-decline-126081800580_1.html)
- 2026-07-14 — Economic Times: **OneSource Specialty Pharma partners with Formycon AG to manufacture biosimilars** — OneSource Specialty Pharma has announced a manufacturing partnership for biosimilars with Formycon AG. This collaboration will see OneSource providing integrated manufacturing capabilities for biosimilars. The partnership aims to expand access to high-quality, affordable biologics for patients globally. Formycon AG CEO stated this strengthens their supply capabilities with a quality-focused partner. Both companies aim to broaden sustainable global access to life-changing biosimilar therapies. — [Source](https://economictimes.indiatimes.com/industry/healthcare/biotech/onesource-specialty-pharma-partners-with-formycon-ag-to-manufacture-biosimilars/articleshow/132385862.cms)
- 2026-07-14 — CNBC-TV18: **Sensex Today | Stock Market Live Update: Nifty below 24,150; CreditAccess Grameen shares down 4%** — Stock Market Live Update: The market resilience gets put to test yet again today during the weekly options expiry of the Nifty contracts. 24,000 and 23,800 on the downside remain the key levels for the index, while 24,250 - 24,350 on the upside remains a supply zone. — [Source](https://www.cnbctv18.com/market/stock-market-live-updates-sensex-nifty-50-expiry-today-oil-hpcl-ongc-ril-banks-hcltech-ltts-tata-elxsi-share-price-liveblog-19944620.htm)
- 2026-07-14 — The Hindu: **Sensex today | Stock Market Live: Sensex drops over 370 points; Nifty slips below 24,120** — Sensex, Nifty, Stock Price Live Updates: Indian equity markets traded lower on Tuesday, with the Sensex falling over 500 points, as escalating US-Iran tensions, Brent crude hovering around $85 a barrel, renewed FPI selling and persistent geopolitical uncertainty kept investors cautious despite resilience in broader market segments. — [Source](https://www.thehindubusinessline.com/markets/sensex-nifty50-today-stock-market-live-updates-14th-july-2026/article71217153.ece)

## Business profile

**Strategic vision:** Pharmaceutical and biologic contract development and manufacturing organization.

### Business segments
- **Biologics Development and Manufacturing:** Offers integrated support for complex biologics, including process and analytical development, technology transfer, and scale-up.
- **Drug-Device Combination Solutions:** Specializes in the design, development, and manufacturing of combination products like prefilled syringes, auto-injectors, and pen injectors.
- **Complex Sterile Injectables:** Focuses on formulation and production of advanced sterile dosage forms including sterile liquids, lyophilized vials, cartridges, and pre-filled syringes.
- **Soft Gelatin Capsule Production:** Develops and manufactures high-quality soft gelatin capsules in multiple formats, shapes, and sizes.

### Competitive strengths
- India's first pure-play specialty pharma CDMO.
- Over three decades of operational experience through integrated businesses.
- End-to-end service offering from development to commercial manufacture.
- Expertise in complex biologics, drug-device combinations, and sterile injectables.

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## Freshness and sources

- Data as of: 2026-11-06
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/onesource
Markdown representation: https://faxioms.com/stocks/onesource?render=md