GLAND

Gland Pharma share price & financials

Price
₹2,449
Market cap
₹48.0k Cr
Sector
Healthcare
Calls analysed
7
Latest concall · Q1 FY27 · call held 10 Aug 2026

Gland Pharma Limited Q1 FY27

Revenue 18,003 million +20%Adjusted EBITDA 5,102 million Adjusted EBITDA Margin 28% Profit After Tax 3,170 million +47%

What went well

  • Revenues grew 20% year-on-year to INR 18,003 million.
  • Adjusted EBITDA stood at INR 5,102 million with margins of 28%, up from 25% in Q1 FY26.
  • Profit after tax grew 47% year-on-year to INR 3,170 million, with PAT margin of 18%.

What to watch

  • Forex loss of INR 36 million in Q1 FY27, compared to a gain of INR 508 million in Q4 FY26 and INR 39 million in Q1 FY26.
  • Supply disruptions in Saudi Arabia impacted Rest of World (ROW) revenues, which were broadly in line with last year.
Read the full call →

What Gland Pharma Limited does

Gland Pharma manufactures generic injectable pharmaceuticals — including complex injectables, oncology products and peptides — which it sells directly under its own label ("base business") in the United States (its largest market), Europe and other regulated markets, the Rest of World, and India. Alongside this, it runs a Contract Development and Manufacturing Organisation (CDMO) business that develops and manufactures injectable drugs, including a growing GLP-1 cartridge-filling pipeline, for global pharma and biotech partners. Its subsidiary Cenexi is a European CDMO that manufactures and packages drugs for pharma clients. The company files ANDAs with the US FDA to register new generic injectables and invests in R&D for complex injectable and specialty drug-delivery platforms.

Segments

  • Base Business (Gland)
  • CDMO (Contract Development & Manufacturing)
  • Cenexi
GLP-1 cartridge manufacturing capacity
140 million units
New products launched in the US (FY26)
31
ANDA approvals received (FY26)
28
ANDAs filed (FY26)
24
GLP-1 CDMO contracts signed
8 signed, with 6-7 more expected
Key geographic markets served
United States, Europe, Rest of World, India
Founded 1978Headquarters Hyderabad, Telangana, India Company website

Guidance record · Q1 FY27

what the last two calls moved 19 tracked 5 delivered 2 missed 12 open
  • Cenexi EBITDA delivered said Q3 FY25 Promised: Q4 FY25 Q1 FY27: Continued positive performance with €2M EBITDA reported for the quarter, reinforcing the turnaround.
  • Biologics Revenue FY26 missed said Q4 FY25 Promised: ₹100 crores Q1 FY27: Target pertains to FY26 and was missed. No new update.
  • Organic Revenue CAGR revised up said Q3 FY26 Promised: 15% over next 5 years Q1 FY27: Management is re-evaluating the CAGR upwards to 'around 20% growth next 4 years' based on new contracts, a significant upgrade from the original 15% over 5 years target.

All 19 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 23.9%, net profit up 35.3% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue1,063 1,011 1,030 1,039 1,074 +1%1,178 +17%1,262 +23%1,287 +24%
EBITDA364 391 394 359 375 +3%422 +8%508 +29%474 +32%
Net profit282 295 290 269 302 +7%308 +4%420 +45%364 +35%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +53.6% 1Y

₹1.5k₹2.0k₹2.5k₹3.0kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 3 Nov 2025Q3 FY26 — 28 Jan 2026Q4 FY26 — 15 May 2026Q1 FY27 — 10 Aug 2026

1Y: ₹1,902.5 on 10 Sept 2025 → ₹2,922.3. High ₹3,026.2 (9 Sept 2026), low ₹1,596.8 (19 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
+2.5%
10 Aug
Q4 FY26
−1.6%
15 May
Q3 FY26
+0.8%
28 Jan
Q2 FY26
+2.2%
3 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 7.9% a year over 3 years, FY23 to FY26. Operating margin widened to 36.5%.

Year endingFY23FY24FY25FY26
Revenue₹3.6k Cr₹4.2k Cr₹4.1k Cr₹4.6k Cr
Operating profit₹1.0k Cr₹1.4k Cr₹1.4k Cr₹1.7k Cr
Operating margin28.3%33.8%35.1%36.5%
Interest₹8 Cr₹9 Cr₹22 Cr₹17 Cr
Depreciation₹148 Cr₹162 Cr₹170 Cr₹177 Cr
Net profit₹781 Cr₹1.0k Cr₹1.1k Cr₹1.3k Cr
Net margin21.6%25.0%26.5%28.5%
Cash from operations₹368 Cr₹1.1k Cr₹1.1k Cr₹1.1k Cr
Free cash flow₹145 Cr₹899 Cr₹962 Cr₹917 Cr
ROCE15.0%17.0%16.0%17.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹16 Cr₹16 Cr₹16 Cr₹16 Cr₹16 Cr₹16 Cr
Reserves₹5.9k Cr₹7.1k Cr₹7.9k Cr₹9.0k Cr₹9.5k Cr₹10.8k Cr
Borrowings₹5 Cr₹5 Cr₹4 Cr₹4 Cr₹302 Cr₹3 Cr
Other liabilities₹588 Cr₹671 Cr₹815 Cr₹542 Cr₹1.9k Cr₹794 Cr
Total liabilities₹6.5k Cr₹7.8k Cr₹8.8k Cr₹9.5k Cr₹11.8k Cr₹11.6k Cr
Fixed assets₹954 Cr₹1.5k Cr₹1.6k Cr₹1.7k Cr₹4.4k Cr₹1.7k Cr
Capital work in progress₹338 Cr₹191 Cr₹177 Cr₹120 Cr₹209 Cr₹138 Cr
Investments₹1 Cr₹163 Cr₹8 Cr₹2.4k Cr₹0 Cr₹3.3k Cr
Other assets₹5.2k Cr₹6.0k Cr₹7.0k Cr₹5.3k Cr₹7.2k Cr₹6.5k Cr
Total assets₹6.5k Cr₹7.8k Cr₹8.8k Cr₹9.5k Cr₹11.8k Cr₹11.6k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs trimmed −2.42 pp while FIIs added +1.35 pp. The shareholder count shrank 2% to 1,08,266.

Promoters
51.8%
FIIs
8.7%
DIIs
30.4%
Public
9.1%

Since Jun 2025

  • DIIs −2.42 pp
  • FIIs +1.35 pp
  • Public +1.13 pp

How it drifted, 12 quarters

Over this window DIIs went from 22.4% to 30.4% — +8.0 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 57.9%, FIIs 4.9%, DIIs 22.4%, Public 14.8%.Dec '23: Promoters 57.9%, FIIs 4.0%, DIIs 24.2%, Public 13.9%.Mar '24: Promoters 57.9%, FIIs 3.6%, DIIs 25.2%, Public 13.3%.Jun '24: Promoters 51.8%, FIIs 6.9%, DIIs 32.8%, Public 8.5%.Sep '24: Promoters 51.8%, FIIs 4.5%, DIIs 35.4%, Public 8.3%.Dec '24: Promoters 51.8%, FIIs 5.0%, DIIs 34.8%, Public 8.3%.Mar '25: Promoters 51.8%, FIIs 6.9%, DIIs 33.3%, Public 8.0%.Jun '25: Promoters 51.8%, FIIs 7.4%, DIIs 32.9%, Public 7.9%.Sep '25: Promoters 51.8%, FIIs 7.9%, DIIs 32.6%, Public 7.6%.Dec '25: Promoters 51.8%, FIIs 7.6%, DIIs 33.0%, Public 7.6%.Mar '26: Promoters 51.8%, FIIs 7.3%, DIIs 33.4%, Public 7.5%.Jun '26: Promoters 51.8%, FIIs 8.7%, DIIs 30.4%, Public 9.1%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Gland Pharma Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Fosun Pharma Industrial Pte. Ltd 51.77%−0.06 pp
HDFC Mutual Fund - HDFC Mid-Cap Fund Mutual fund6.11%−0.28 pp
Mirae Asset Large & Midcap Fund Mutual fund5.69%−1.23 pp
Nippon Life India Trustee Ltd- A/C Nippon India Growth Mid Cap Fund Mutual fund4.93%−0.11 pp
SBI Large & Midcap Fund Mutual fund3.32%unchanged
ICICI Prudential India Opportunities Fund Mutual fund1.79%−1.30 pp
DSP Small Cap Fund Mutual fund1.62%unchanged
Government Pension Fund Global Sovereign1.34%unchanged
UTI-Flexi Cap Fund Mutual fund1.22%unchanged
Regal Gesture Limited 0.00%unchanged
Lustrous Star Limited 0.00%unchanged
Ample Up Limited 0.00%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in GLAND

Filings to Aug 2026

0 new, 6 added, 5 trimmed, 1 sold out — net −2.99 L shares (−1.8%).

Held by funds
₹4.7k Cr
27 schemes
Biggest holder
SBI Large and Midcap Fund
₹920 Cr · 2.2% of that fund
SchemeHoldingLast month
SBI Large and Midcap Fund SBI Mutual Fund₹920 Cr+0.17 L
Nippon India Growth Mid Cap Fund Nippon India Mutual Fund₹808 Crheld
Nippon India Small Cap Fund Nippon India Mutual Fund₹529 Crheld
HDFC Large and Mid Cap Fund HDFC Mutual Fund₹350 Crheld
Nippon India Multi Cap Fund Nippon India Mutual Fund₹345 Crheld
SBI Contra Fund SBI Mutual Fund₹321 Crheld
Nippon India ELSS Tax Saver Fund Nippon India Mutual Fund₹317 Crheld
Nippon India Pharma Fund Nippon India Mutual Fund₹231 Crheld

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

6 added, 5 trimmed — net −2.99 L shares (−1.8%)

Funds are sitting on
+56%
vs est. average cost
Held by funds
₹4.7k Cr
27 schemes · ≈ 8.5% of the company
Biggest holder
SBI Large and Midcap Fund
₹920 Cr · 2.2% of that fund
Longest holder
Nippon India Pharma Fund
5y 10m · since Nov '20

Shares held by these funds +17%

Aug '23 1.68 cr shares Jul '26

What the price assumes

Expensive

To justify its price of ₹2922, this stock must grow earnings at 24% every year for 7 years. Our analysis caps realistic growth at ~18%. At that growth it is worth ₹2198 — downside of 25%.

Growth the price implies
24.1% a year
for 7 years, fading to 4%
It has actually compounded at
18.5% a year
net profit, FY23–FY26 · EPS 18.5%
The gap
0.1 pp
-25% downside if it only repeats history
Price today ₹2,922.3 Value at the reference growth ₹2,198.13

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Gland Pharma Limited

Guides on how to read this kind of business and the numbers that matter.