Alivus Life Sciences Limited engages in the development, manufacture, and marketing of non-commoditized active pharmaceutical ingredients for various chronic therapeutic areas in India. The company offers various APIs, such as olmesartan, telmisartan, perindopril, atovaquone, solifenacin, mirabegron, sitagliptin, zonisamide, adapalene, and rosuvastatin. It also provides contract development and manufacturing services to a range of multinational corporations and specialty companies. The company's APIs are used in various therapeutic segments, including cardiovascular disease, central nervous system disorders, diabetes, gastrointestinal health, oncology, pain management, and anti-infectives.
The company was formerly known as Glenmark Life Sciences Limited and changed its name to Alivus Life Sciences Limited in December 2024. Alivus Life Sciences Limited is a subsidiary of Nirma Limited. The promoter of Alivus Life Sciences Ltd is NIRMA LIMITED, which owns 74.99% of the total equity.
Alivus Life Sciences (Formerly Glenmark Life Sciences) is a leading developer and manufacturer of select, high-value, non-commoditized, active pharmaceutical ingredients (APIs) in chronic therapeutic areas such as cardiovascular disease, central nervous system disease, pain management, and diabetes. It has a diversified portfolio of 161 molecules & supplies its products to customers in India, Europe, North America, Latin America, Japan, and the Rest of the World (RoW).
Operating as a wholly-owned subsidiary of Glenmark Pharmaceuticals (prior to the Nirma acquisition), the company is engaged in the development, manufacture, and marketing of active pharmaceutical ingredients (APIs). The company has Research and Development (R&D) facilities in Mahape, Ankleshwar, and Dahej, while its manufacturing facilities are located in Ankleshwar, Dahej, Mohol, and Kurkumbh.
Revenue from operations for Q4 FY25 reached ₹6,496 million, a growth of 21.1% YoY and 1.2% QoQ. For Q4 FY25, EBITDA was at ₹2,085 million, a growth of 44.2% YoY and 3.8% QoQ. EBITDA margins were at 32.1%, up 520 bps YoY and up 80 bps QoQ. PAT for the quarter stood at ₹1,419 million and PAT margins were at 21.8%.
For FY25, revenue from operations was ₹23,869 million, a growth of 4.5% YoY. EBITDA for FY25 was at ₹7,172 million while EBITDA margins stood at 30.0% as compared to 30.1% in FY24 despite the absence of PLI benefit in the current year. For FY25, the company recorded PAT of ₹4,857 million with PAT margins of 20.3%.
The company has posted net profit of ₹485.62 Crore for the Financial Year ended March 31, 2025. For the Financial Year ended March 31, 2025, Alivus Life Sciences has reported total income of ₹2,421.45 Crore as compared to ₹2,295.25 Crore during the Financial Year ended March 31, 2024. The company has posted net profit of ₹485.62 Crore for the Financial Year ended March 31, 2025, as against net profit of ₹470.88 Crore for the Financial Year ended March 31, 2024.
- Market Capitalization: ₹12,412 Crore (as of June 2025)
- 52-Week High/Low: ₹1,335.00 and ₹820.05
- Promoter Holding: 74.99%
- Revenue Growth (past 5 years): Poor sales growth of 9.20%
During FY25, the company generated a strong free cash flow of ₹2,328 million, leading to Cash and Cash Equivalents (including short-term investments) of ₹5,487 million as of March 31, 2025. The Company is almost debt-free.
Tushar Mistry, CFO, Alivus Life Sciences, said, "We delivered strong revenue growth of 21.1% in Q4FY25, with 520 bps improvement in EBITDA margins at 32.1%. We concluded the year on a positive note, with full-year revenue growth of 7.1% normalized for PLI benefits, which has been in line with our earlier guidance. For FY25, both gross margins and EBITDA margins remained stable at ~55% and ~30% respectively, supported by a favorable product mix and cost discipline. Notably, we maintained EBITDA margins of 30% without PLI scheme benefits, a strong validation of our operational resilience. Alivus Life Sciences has generated healthy cash flows of ₹233 Crore during the year, which supports our growth initiatives while enabling us to maintain a debt-free balance sheet."
Despite this success, the company faces challenges such as a rising cash conversion cycle and market erosion of approximately 4% to 4.5%, which could impact future revenue growth. Management remains optimistic about mid-teen volume growth for FY'26, supported by significant capital expenditures of ₹550 to ₹600 Crore aimed at expanding production capacity and enhancing R&D capabilities. While pricing pressures and regulatory concerns pose risks, the company's net debt-free status and strong cash flow position it well for continued investment and innovation in a dynamic market landscape.
Before 2019, the API business was an integral part of Glenmark Pharma (GPL). It was separated from GPL into GLS through a Business Transfer Agreement in Jan 2019, and GLS was subsequently listed on NSE & BSE in FY22. Alivus Life Sciences Limited was initially established as 'Zorg Laboratories Private Limited' on June 23, 2011, and was granted the Certificate of Incorporation by the Registrar of Companies Maharashtra in Pune.
The company represents a significant player in the Indian pharmaceutical API industry, with a strong focus on non-commoditized, high-value products and a diversified global customer base across multiple therapeutic areas.
