GLENMARK

Glenmark Pharmaceuticals share price & financials

Price
₹2,235.5
Market cap
₹69.5k Cr
Sector
Healthcare
Calls analysed
7
Latest concall · Q1 FY27 · call held 03 Aug 2026

Glenmark Pharmaceuticals Limited Q1 FY27

Consolidated Revenue 40,185 million +23%

What went well

  • Consolidated revenue grew 23.1% YoY to INR 40,185 million, driven by broad-based performance across all key markets.
  • India formulation business recorded 15.5% growth, significantly outperforming IPM, with strong momentum in oncology from TEVIMBRA and BRUKINSA.
  • North America core business growth (excl. deferred income) was 19.8%, with overall revenue up 41.1%, supported by new respiratory launches.

What to watch

  • Operating margins impacted by increased costs due to geopolitical situation, shipments, and logistics, with pressure expected for at least two more quarters.
  • Europe business growth was muted at 11.9% in Q1 FY27, though expected to return to double-digit growth from next year.
Read the full call →

What Glenmark Pharmaceuticals Limited does

Glenmark Pharmaceuticals develops, manufactures and markets branded generics, specialty and OTC medicines, with deep therapeutic focus on Oncology, Dermatology and Respiratory. It earns revenue from branded and generic formulation sales across India, the US, Europe, Latin America, APAC, Middle East and Africa, supplemented by out-licensing and milestone payments from its innovative pipeline. Its biotech arm, Ichnos Glenmark Innovation (IGI), discovers multispecific antibodies via the proprietary BEAT platform and partners globally (e.g. ISB 2001 licensed to AbbVie) to monetize novel oncology and immunology assets. Manufacturing spans API and formulation sites feeding both regulated and emerging markets.

Segments

  • India Formulations
  • North America
  • Europe
  • Emerging Markets
  • Ichnos Glenmark Innovation (IGI)
Manufacturing sites globally
11
R&D centres
4
Global employee base
~17,000
Countries with commercial presence
80+
Key global therapeutic areas
3 (Oncology, Dermatology, Respiratory)
Out-licensing deals executed since 2004
10
Founded 1977Headquarters Mumbai, IndiaEmployees 17,000 (April 2026) Company website

Guidance record · Q1 FY27

what the last two calls moved 26 tracked 7 delivered 1 missed 18 open
  • RYALTRIS Global Sales delivered said Q3 FY25 Promised: $80 million for FY25 Q1 FY27: This promise for FY25/FY26 targets remains achieved. A separate promise tracks long-term growth.
  • Total Capex went quiet said Q4 FY26 Promised: Around INR 900 crores for FY27 onwards Q1 FY27: No specific update on capex spend provided in the Q1 FY27 call or materials.
  • EBITDA Margin revised down said Q4 FY25 Promised: 19% to 20% for FY26 Q1 FY27: The final verdict for the FY26 journey was a downward revision of future expectations, even though the interim target was met.

All 26 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 1.7%, net profit up 123.0% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue2,636 2,251 2,010 2,395 1,539 −42%2,360 +5%2,147 +7%2,435 +2%
EBITDA779 494 341 728 -178 −123%496 +0%32 −91%613 −16%
Net profit595 414 148 330 -739 −224%282 −32%-74 −150%736 +123%
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 +13.5% 1Y

₹1.8k₹2.0k₹2.2k₹2.4kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 17 Nov 2025Q3 FY26 — 2 Feb 2026Q4 FY26 — 1 Jun 2026Q1 FY27 — 3 Aug 2026

1Y: ₹2,130.9 on 10 Sept 2025 → ₹2,419.2. High ₹2,515 (28 Aug 2026), low ₹1,810.4 (6 Nov 2025).

How the price took the results

close before → close after

Q1 FY27
−0.2%
3 Aug
Q4 FY26
−3.2%
1 Jun
Q3 FY26
−1.0%
2 Feb
Q2 FY26
−1.4%
17 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 fell 5.2% a year over 3 years, FY23 to FY26. Operating margin narrowed to 12.8%.

Year endingFY23FY24FY25FY26
Revenue₹9.9k Cr₹7.9k Cr₹9.2k Cr₹8.4k Cr
Operating profit₹1.6k Cr₹1.2k Cr₹2.2k Cr₹1.1k Cr
Operating margin15.8%15.7%24.3%12.8%
Interest₹258 Cr₹277 Cr₹48 Cr₹78 Cr
Depreciation₹386 Cr₹202 Cr₹219 Cr₹236 Cr
Net profit₹783 Cr₹5.2k Cr₹1.6k Cr₹-201 Cr
Net margin7.9%65.5%17.5%-2.4%
Cash from operations₹1.5k Cr₹-495 Cr₹589 Cr₹543 Cr
Free cash flow₹1.6k Cr₹-690 Cr₹249 Cr₹266 Cr
ROCE11.0%10.0%10.0%7.0%
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₹28 Cr₹28 Cr₹28 Cr₹28 Cr₹28 Cr₹28 Cr
Reserves₹14.8k Cr₹16.7k Cr₹17.8k Cr₹22.9k Cr₹23.9k Cr₹24.1k Cr
Borrowings₹3.7k Cr₹3.7k Cr₹3.2k Cr₹707 Cr₹476 Cr₹107 Cr
Other liabilities₹2.1k Cr₹2.4k Cr₹3.5k Cr₹3.7k Cr₹4.0k Cr₹5.2k Cr
Total liabilities₹20.6k Cr₹22.9k Cr₹24.6k Cr₹27.4k Cr₹28.4k Cr₹29.5k Cr
Fixed assets₹1.7k Cr₹1.8k Cr₹1.7k Cr₹1.8k Cr₹2.0k Cr₹2.0k Cr
Capital work in progress₹131 Cr₹109 Cr₹172 Cr₹198 Cr₹168 Cr₹159 Cr
Investments₹7.0k Cr₹8.6k Cr₹10.3k Cr₹13.0k Cr₹15.2k Cr₹15.2k Cr
Other assets₹11.8k Cr₹12.5k Cr₹12.3k Cr₹12.5k Cr₹11.0k Cr₹12.1k Cr
Total assets₹20.6k Cr₹22.9k Cr₹24.6k Cr₹27.4k Cr₹28.4k Cr₹29.5k 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, the public trimmed −1.24 pp while DIIs added +0.96 pp. The shareholder count grew 11% to 2,11,418.

Promoters
46.6%
FIIs
20.9%
DIIs
18.6%
Government
0.0%
Public
13.8%

Since Jun 2025

  • Public −1.24 pp
  • DIIs +0.96 pp
  • FIIs +0.27 pp

How it drifted, 12 quarters

Over this window DIIs went from 10.3% to 18.6% — +8.3 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 46.6%, FIIs 24.8%, DIIs 10.3%, Government 0.0%, Public 18.2%.Dec '23: Promoters 46.6%, FIIs 23.7%, DIIs 10.9%, Government 0.0%, Public 18.7%.Mar '24: Promoters 46.6%, FIIs 21.4%, DIIs 13.4%, Government 0.0%, Public 18.6%.Jun '24: Promoters 46.6%, FIIs 21.0%, DIIs 13.9%, Government 0.0%, Public 18.4%.Sep '24: Promoters 46.6%, FIIs 23.1%, DIIs 13.2%, Government 0.0%, Public 17.1%.Dec '24: Promoters 46.6%, FIIs 23.5%, DIIs 13.8%, Government 0.0%, Public 16.0%.Mar '25: Promoters 46.6%, FIIs 23.1%, DIIs 14.6%, Government 0.0%, Public 15.6%.Jun '25: Promoters 46.6%, FIIs 20.6%, DIIs 17.6%, Government 0.0%, Public 15.1%.Sep '25: Promoters 46.6%, FIIs 20.7%, DIIs 18.6%, Government 0.0%, Public 14.0%.Dec '25: Promoters 46.6%, FIIs 19.2%, DIIs 20.1%, Government 0.0%, Public 14.0%.Mar '26: Promoters 46.6%, FIIs 20.4%, DIIs 19.3%, Government 0.0%, Public 13.7%.Jun '26: Promoters 46.6%, FIIs 20.9%, DIIs 18.6%, Government 0.0%, Public 13.8%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 0 holders trimming and 4 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

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

HolderStakeChange
Saldanha Family Trust 45.44%unchanged
HDFC Mutual Fund - HDFC Mid-Cap Fund Mutual fund6.22%newly disclosed
Government Pension Fund Global Sovereign3.89%+0.11 pp
Amansa Holdings Private Limited FPI fund2.22%unchanged
Invesco India Contra Fund Mutual fund2.20%newly disclosed
Bandhan Nifty 200 Momentum 30 Index Fund Mutual fund1.28%newly disclosed
UTI Multi Cap Fund Mutual fund1.15%newly disclosed
Blanche Elizabeth Saldanha 0.39%unchanged
Glenn Mario Saldanha 0.36%unchanged
Cherylann Maria Pinto 0.27%unchanged
Robin Joseph Pinto 0.18%unchanged
Neha Saldanha 0.01%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 GLENMARK

Filings to Aug 2026

1 new, 10 added, 5 trimmed, 0 sold out — net −0.34 L shares (−0.5%).

Held by funds
₹1.5k Cr
21 schemes
Biggest holder
SBI Arbitrage Fund
₹292 Cr · 0.6% of that fund
SchemeHoldingLast month
SBI Arbitrage Fund SBI Mutual Fund₹292 Cr+0.04 L
HDFC Large and Mid Cap Fund HDFC Mutual Fund₹234 Crheld
HDFC Balanced Advantage Fund HDFC Mutual Fund₹198 Crheld
Nippon India Arbitrage Fund Nippon India Mutual Fund₹174 Cr−0.72 L
HDFC Manufacturing Fund HDFC Mutual Fund₹156 Cr−0.35 L
HDFC Arbitrage Fund HDFC Mutual Fund₹119 Cr+0.29 L
HDFC Multi Cap Fund HDFC Mutual Fund₹92 Crheld
HDFC Pharma and Healthcare Fund HDFC Mutual Fund₹76 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

10 added, 5 trimmed — net −33,547 shares (−0.5%)

Funds are sitting on
+41%
vs est. average cost
Held by funds
₹1.5k Cr
21 schemes · ≈ 2.1% of the company
Biggest holder
SBI Arbitrage Fund
₹292 Cr · 0.6% of that fund
Longest holder
Nippon India Nifty Pharma ETF
5y · since Sep '21

Shares held by these funds +1%

Aug '23 66.78 L shares Jul '26

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Glenmark Pharmaceuticals Limited

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