OneSource Specialty Pharma shares nosedive 18% on weak Q3. Here’s what happened

Shares of OneSource Specialty Pharma tumbled as much as 18% to their day’s low of Rs 1,178 per share on the BSE on Tuesday, after it reported a weak set of numbers for the December quarter of financial year 2026.

The company reported a net loss of Rs 47 crore, a reversal from a profit of Rs 67 crore in the corresponding quarter of the previous financial year, OneSource Specialty Pharma said in a regulatory filing.

The company’s revenue from operations came in at Rs 290 crore, marking a 26% year-on-year decrease from Rs 393 crore in the same quarter of the previous financial year. The fall, company says, was impacted by delayed semaglutide approvals in Canada.


EBITDA or earnings before interest, tax, depreciation and amortization came in at Rs 17 crore, down 88% from the same quarter last year, due to lower revenue in the quarter and largely fixed cost base. The EBITDA in Q3 FY25 stood at Rs 142 crore.

Margins also declined to 6% from 36% posted in the third quarter of the previous financial year. This translates to a decline of 3,018 basis points. One basis point (BPS) is equal to 0.01% (one-hundredth of one percent).

Management commentary

Neeraj Sharma, CEO & MD, OneSource Specialty Pharma speaking on the performance said, “As previously anticipated, this has been a subdued quarter due to delays in customer approvals in Canada that have prolonged the transition from the MSA to the CSA phase. The inherent demand, however, remains intact with the order book continuing to trend upwards. In our nascent biologics segment, we continue to witness strong interest, with another global biosimilar player onboarded and the funnel at a historic high.”

Management guidance

Despite the weak quarterly performance, the company reaffirmed its FY28 guidance. It expects organic revenue of $400 million, which could rise to $500 million including the proposed acquisition.

EBITDA margin guidance was maintained at 40%, while net debt to EBITDA is targeted to remain below 1.5x.

Stock performance

OneSource Specialty Pharma shares have been on a weak run in the first month of 2026, down over 33% in January and about 41% in the last 6 months.

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