Gland Pharma Q1 PAT Surges 47% YoY

Financial Performance Summary

Gland Pharma Limited reported its consolidated financial results for the first quarter ended June 30, 2026 (Q1 FY27).

Key Financial Metrics:

| Revenue from operations | 18,003 | 15,056 | 20% | 17,428 | 3% |

| Gross Profit | 11,759 | 9,845 | 19% | 11,515 | 2% |

| Gross Profit margin (%) | 65% | 65% | - | 66% | - |

| EBITDA | 4,930 | 3,678 | 34% | 5,130 | -4% |

| EBITDA margin (%) | 27% | 24% | - | 29% | - |

| Adj. EBITDA | 5,102 | 3,737 | 37% | 5,244 | -3% |

| Adj. EBITDA margin (%) | 28% | 25% | - | 30% | - |

| PBT | 4,350 | 3,127 | 39% | 5,058 | -14% |

| PBT margin (%) | 24% | 21% | - | 29% | - |

| PAT | 3,170 | 2,155 | 47% | 3,667 | -14% |

| PAT margin (%) | 18% | 14% | +330 bps | 21% | - |

Performance Drivers:

Quarterly revenue reached record levels with 20% year-on-year growth
PAT margin expanded significantly by approximately 330 basis points year-on-year
Adjusted EBITDA margin improved to 28% from 25% in Q1 FY26

Business Segment Performance

Business-wise Revenue Breakdown:

| CDMO | 8,915 | 7,411 | 20% | 8,059 | - |

| B2B* | 9,088 | 7,645 | 19% | 9,369 | -3% |

| TOTAL | 18,003 | 15,056 | 20% | 17,428 | 3% |

*Including B2C Revenue: ₹152 Mn in Q1FY27, ₹147 Mn in Q1FY26, ₹147 Mn in Q4FY26

CDMO business contributed 50% of total revenues and grew by 20% year-on-year
B2B business contributed 50% of total revenues and grew by 19% year-on-year

Geographic Market Performance

Market-wise Revenue Breakdown:

| USA | 9,810 | 7,443 | 32% | 9,807 | 0% |

| Europe | 3,954 | 3,302 | 20% | 3,814 | 4% |

| Canada, Australia & New Zealand | 534 | 739 | -28% | 588 | -9% |

| India | 666 | 594 | 12% | 670 | -1% |

| Rest of the world | 3,039 | 2,978 | 2% | 2,549 | 19% |

| TOTAL | 18,003 | 15,056 | 20% | 17,428 | 3% |

Operational and Strategic Highlights

R&D Investment:

Total R&D expenses were ₹772 million in Q1 FY27, representing 4% of consolidated revenue
R&D expenditure focused on complex product development and number of filings

Product Launches and Pipeline:

Launched 4 molecules in the USA this quarter, including Multi-Vitamin and Leucovorin calcium
Three ANDAs were filed, and seven were approved in Q1 FY27
Cumulative total of 389 ANDA filings in the U.S. (342 approved, 47 pending)
Six complex injectable products already launched, with three more in line for approval

Strategic Partnerships and Developments:

CDMO partnership with A Global Pharmaceutical Company: Annualized revenue potential of approximately USD 90-100 million once all products are commercialized. Technology transfer activities planned for completion within two years, with revenues expected to commence from calendar year 2029.
Strategic collaboration with Neuland Laboratories: Long-term strategic collaboration for the manufacturing of sterile APIs for microparticle depot products.
In-licensing agreement with a China-based development company: For development, manufacturing and commercialization of a niche liposomal product for U.S. and European markets.

Ready-to-Use (RTU) Bags Portfolio:

Filed 21 Ready-to-Use infusion bag products with 18 approvals received
Additional 11 products currently under development
Total RTU bag portfolio addresses market opportunity of approximately $644 million in the US

Co-development Partnerships:

Fifteen products in co-development (seven 505(b)(2) and eight ANDAs)
Commercialization anticipated to begin in FY28

Management Commentary

Mr. Srinivas Sadu, Executive Chairman of Gland Pharma, stated: "Our strong start to FY27 reflects the successful execution of our CDMO strategy and the resilience of our B2B business model. Growth was driven by recent product launches from CDMO portfolio and strong customer demand for our diversified product mix. We continue to strengthen our growth platform through a robust CDMO pipeline including investments in differentiated technologies and capacity expansions, which position us well for sustainable long-term growth."

Additional Information

Earnings Call Details: The Company conducted an Earnings call at 6.30 PM (IST) on August 10, 2026.

Company Background: Gland Pharma was established in 1978 in Hyderabad and has grown to become one of the largest injectable-focused companies with a global footprint across 60 countries. It operates primarily under a Contract Development & Manufacturing Operations (CDMO), Business-to-Business (B2B) model with a wide range of injectables including vials, ampoules, pre-filled syringes, lyophilized vials, dry powders, infusions, oncology, and ophthalmic solutions.