Here's a concise summary of Anthem Biosciences' Q3FY26 and 9MFY26 performance: **1. Business Performance:** Anthem Biosciences' Q3FY26 revenue dipped 15% YoY to ₹423.2 Cr, impacted by a higher base.

However, 9MFY26 revenue still grew 11.2% YoY to ₹1513.4 Cr.

While Q3 CRDMO revenue was down 19.4% YoY, Specialty Ingredients saw 6.7% growth.

For the nine months, CRDMO grew 13.1%, and Specialty Ingredients 2.5%. Profitability remained robust. **2. Key Financial Metrics:** Q3 EBITDA hit ₹190.7 Cr (41.8% margin), and PAT was ₹92.8 Cr (20.3% margin). For 9MFY26, EBITDA was ₹671.2 Cr (41.5% margin), and PAT ₹402.0 Cr (24.8% margin). Net cash stands strong at ₹1231.2 Cr. **3. Recent Developments:** The company recorded a one-off charge of ₹25.4 Cr in Q3 due to changes in labor-related provisions. **4. Growth Drivers or Strategy:** Growth is underpinned by strong technology, infrastructure, and capabilities across the drug discovery to commercialization value chain, supported by significant custom synthesis and fermentation capacities. **5. Management Outlook:** Management is optimistic about a strong year-end, citing robust underlying demand and improved margins, despite the Q3 revenue dip.