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International markets played a key role in the growth story. Sales in the United States rose 19% to Rs 308 crore. India, Torrent's largest market, contributed Rs 1,811 crore, growing 11% year-on-year. Brazil matched that growth with an 11% rise, while Germany posted a 9% increase. Revenue from other global markets was also healthy, rising 10% YoY.
On the operational front, EBITDA grew 14% YoY to Rs 1,032 crore, translating into a margin of 32.5%. Adjusting for one-time acquisition-related expenses of Rs 15 crore, the margin edged higher to 32.9%. Gross margins remained firm at 76% in Q1 FY26.
The company also continued to back its R&D engine, spending Rs 157 crore during the quarter, a 16% increase over last year, while maintaining the R&D-to-sales ratio at 5%.
Torrent's performance drew praise from analysts. A foreign brokerage firm raised its price target on the stock to Rs 4,380 from Rs 4,000, citing the quarter as healthy and in-line, with solid traction across geographies. The firm maintained its 'Buy' rating, reflecting optimism over the company's steady execution and global growth outlook.
Torrent Pharmaceuticals is the flagship of the Torrent Group and ranks seventh in the Indian pharmaceutical market. It is among the top five players in key therapeutic areas such as cardiovascular, gastrointestinal, central nervous system, and cosmo-dermatology. With nearly 76% of its India business coming from chronic and sub-chronic therapies, Torrent remains a focused, specialty-driven player.
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