Hyderabad, May 16: Gland Pharma Limited, an injectable-focused pharmaceutical company, announced its financial results for the fourth quarter and year ended March 31, 2026.
Commenting on the results Mr. Srinivas Sadu, Executive Chairman of Gland Pharma, stated, “Our strong FY26 performance, reflected in consolidated revenue growth of 14.5% and an adjusted EBITDA margin of 26%, underscores the progress we are making across the businesses including Cenexi. The 38% adjusted EBITDA margin of base business has been supported by robust growth in the CDMO segment, alongside new product launches and improved profitability across our existing portfolio, driven by ongoing cost-efficiency initiatives. We remain confident in sustaining this momentum, supported by a pipeline of complex product launches and the continued ramp-up of CDMO partnerships.”
Consolidated Financial Performance
|
Particulars |
Q4 FY26 |
Q4 FY25 |
YoY |
Q3 FY26 |
QoQ |
FY26 |
FY25 |
YoY |
|
Revenue from operations |
17,428 |
14,249 |
22% |
16,954 |
3% |
64,307 |
56,165 |
14% |
|
Gross Profit (1) |
11,515 |
9,370 |
23% |
11,187 |
3% |
41,877 |
35,261 |
19% |
|
Gross Profit margin (%) |
66% |
66% |
|
66% |
|
65% |
63% |
|
|
EBITDA (2) |
5,130 |
3,475 |
48% |
4,349 |
18% |
16,295 |
12,689 |
28% |
|
EBITDA margin (%) (3) |
29% |
24% |
|
26% |
|
25% |
23% |
|
|
Adj. EBITDA (4) |
5,244 |
3,475 |
51% |
4,490 |
17% |
16,826 |
12,689 |
33% |
|
Adj. EBITDA margin (%) |
30% |
24% |
|
26% |
|
26% |
23% |
|
|
Adj. PBT (5) |
5,058 |
2,883 |
75% |
3,865 |
31% |
14,889 |
10,627 |
40% |
|
Adj. PBT margin (%) |
29% |
20% |
|
23% |
|
23% |
19% |
|
|
Adj. PAT (6) |
3,667 |
1,865 |
97% |
2,797 |
31% |
10,455 |
6,985 |
50% |
|
Adj. PAT margin (%) |
21% |
13% |
|
16% |
|
16% |
12% |
|
1. Gross Profit = Revenue from Operations – Materials consumed; 2. EBITDA = Profit before tax plus finance expense plus depreciation and amortization expense excluding other income.
3. EBITDA margin = EBITDA / Revenue from operations; 4.Adj. EBITDA = EBITDA plus Employee stock option compensation expenses and one-off GST-related expenses. 5. Adj. PBT = PBT before exceptional items which is the one-time impact due to new wage code. 6. Adj. PAT = Adj. PBT minus equivalent taxes.
Financial Highlights:
- Quarterly revenue increased by 22% year-on-year; Full year FY26 revenues increased by 14.5%
- Quarterly R&D investments stood at ₹ 506 million; Full year FY26 R&D investment was ₹ 2,230 million
- Quarterly adj. EBITDA increased by 51% year-on-year; Full year FY26 adj. EBITDA increased by 33%
- Quarterly adj. EBITDA margin stood at 30%; Full year FY26 adj. EBITDA margin was at 26%
- Quarterly adj. PAT increased by 97% year-on-year; Full year FY26 adj. PAT increased by 50%
- Quarterly adj. PAT margin increased by ~795 bps year-on-year; Full year FY26 adj. PAT margin increased by ~380 bps
- CDMO business contributed 46% of revenues and grew by 36% year-on-year in Q4FY26
- CDMO business contributed 46% of revenues and grew by 28% year-on-year in FY26
Consolidated Market Wise Performance
|
Particulars |
Q4 FY26 |
Q4 FY25 |
YoY |
Q3 FY26 |
QoQ |
FY26 |
FY25 |
YoY |
|
USA |
9,807 |
7,918 |
24% |
8,685 |
13% |
34,214 |
30,387 |
13% |
|
Europe |
3,814 |
2,801 |
36% |
4,071 |
-6% |
14,035 |
10,470 |
34% |
|
Canada, Australia and New Zealand (Other Core Markets) |
588 |
601 |
-2% |
454 |
30% |
2,269 |
2,021 |
12% |
|
India |
670 |
525 |
28% |
744 |
-10% |
2,672 |
2,487 |
7% |
|
Rest of the world |
2,549 |
2,404 |
6% |
3,000 |
-15% |
11,117 |
10,800 |
3% |
|
TOTAL |
17,428 |
14,249 |
22% |
16,954 |
3% |
64,307 |
56,165 |
14% |
Base Business (Gland) Financial Performance
|
Particulars |
Q4 FY26 |
Q4 FY25 |
YoY |
Q3 FY26 |
QoQ |
FY26 |
FY25 |
YoY |
|
Revenue from operations |
12,648 |
10,332 |
22% |
11,790 |
7% |
45,613 |
41,248 |
11% |
|
Gross Profit (1) |
7,800 |
6,280 |
24% |
7,147 |
9% |
27,662 |
23,943 |
16% |
|
Gross Profit margin (%) |
62% |
61% |
|
61% |
|
61% |
58% |
|
|
EBITDA (2) |
5,084 |
3,954 |
29% |
4,201 |
21% |
16,632 |
14,451 |
15% |
|
EBITDA margin (%) (3) |
40% |
38% |
|
36% |
|
36% |
35% |
|
|
Adj. EBITDA (4) |
5,198 |
3,954 |
31% |
4,342 |
20% |
17,163 |
14,451 |
19% |
|
Adj. EBITDA margin (%) |
41% |
38% |
|
37% |
|
38% |
35% |
|
|
Adj. PBT (5) |
5,663 |
3,924 |
44% |
4,382 |
29% |
17,808 |
14,607 |
22% |
|
Adj. PBT margin (%) |
45% |
38% |
|
37% |
|
39% |
35% |
|
|
Adj. PAT (6) |
4,211 |
2,913 |
45% |
3,274 |
29% |
13,232 |
10,868 |
22% |
|
Adj. PAT margin (%) |
33% |
28% |
|
28% |
|
29% |
26% |
|
1. Gross Profit = Revenue from Operations – Materials consumed; 2. EBITDA = Profit before tax plus finance expense plus depreciation and amortization expense excluding other income.
3. EBITDA margin = EBITDA / Revenue from operations; 4.Adj. EBITDA = EBITDA plus Employee stock option compensation expenses and one-off GST-related expenses. 5. Adj. PBT = PBT before exceptional items which is the one-time impact due to new wage code. 6. Adj. PAT = Adj. PBT minus equivalent taxes.
.Financial Highlights:
- Quarterly revenue increased by 22% year-on-year; Full year FY26 revenues increased by 11%
- Quarterly adj. EBITDA increased by 31% year-on-year; Full year FY26 adj. EBITDA increased by 19%
- Quarterly adj. EBITDA margin stood at 41%; Full year FY26 adj. EBITDA margin was at 38%
- Quarterly adj. PAT increased by 45% year-on-year; Full year FY26 adj. PAT increased by 22%
- Quarterly adj. PAT margin stood at 33%; Full year FY26 adj. PAT margin was at 29%
- CDMO business contributed 25% of revenues and grew by 65% year-on-year in Q4FY26
- CDMO business contributed 23% of revenues and grew by 33% year-on-year in FY26
Base Business (Gland) Market Wise Performance
|
Particulars |
Q4 FY26 |
Q4 FY25 |
YoY |
Q3 FY26 |
QoQ |
FY26 |
FY25 |
YoY |
|
USA |
9,716 |
7,714 |
26% |
8,290 |
17% |
33,181 |
29,766 |
11% |
|
Europe |
462 |
402 |
15% |
593 |
-22% |
1,883 |
1,555 |
21% |
|
Canada, Australia and New Zealand (Other Core Markets) |
332 |
437 |