Rubicon Research Limited Q2 FY26 earnings call summary

NSE: RUBICON · BSE: 544578

Earnings call of 13 Nov 2025, summarised by AI from the filing.

Rubicon Research reported Q2 FY26 revenue growth of 39% year-on-year, with EBITDA up 53% and PAT up 56%.

Revenue growth Revenue grew 39% year-on-year, driven by new launches and growth in existing products.
R&D guidance R&D expenditure expected at 10% to 11% of operating revenue over next 3 to 4 years.
Margin change Gross margin dropped to 68.7% due to increased outsource manufacturing from capacity constraints.
Specialty driver Specialty products contributed just under 33% of gross profit, up from 13% in FY2023.
Margin risk Outsource manufacturing trend expected to continue until Pithampur plant ramps up in Q1 CY27.

Rubicon Research Limited Q1 FY27 results

As filed: Revenue ₹428 cr, EBITDA ₹125 cr, PAT ₹82.5 cr, EBITDA margin 29.2%.

Not scored. No result for the same quarter last year.

Q4 FY26: Revenue ₹514 cr, EBITDA ₹119 cr, PAT ₹76.8 cr, EBITDA margin 23.1%. Not scored. No consolidated results for the same quarter last year to compare yet (consolidated revenue ₹514 cr). Scored once a year-earlier consolidated quarter exists. Share price after the results: +40.9% in 27 days (Nifty 500: +2.0%).
Q3 FY26: Revenue ₹476 cr, EBITDA ₹108 cr, PAT ₹72.8 cr, EBITDA margin 22.7%. Not scored. No consolidated results for the same quarter last year to compare yet (consolidated revenue ₹476 cr). Scored once a year-earlier consolidated quarter exists. Share price after the results: +4.1% in 30 days (Nifty 500: −3.2%).
Q2 FY26: Revenue ₹336 cr, EBITDA ₹79.0 cr, PAT ₹46.0 cr, EBITDA margin 23.5%. Not scored. No result for the same quarter last year. Share price after the results: −2.8% in 29 days (Nifty 500: −0.4%).

Past price moves after results do not indicate future moves. Not a recommendation.

Figures from the company's filings with NSE and BSE. Not investment advice.