• Type of Event: Q2 FY27 Earnings Conference Call held on Friday, November 06, 2026, at 18:30 Hrs IST.
  • Purpose: Discussion of quarterly results and business updates for the second quarter and first half of fiscal year 2027.
  • Management Participants: Mr. Srinivas Sadu (Executive Chairman), Mr. Ravi Mitra (Chief Financial Officer – India Office), Mr. Shriniwas P. Dange (Head, Investor Relations).
  • Availability of Materials: The transcript of the earnings call was provided and is available on the company's website at <https://glandpharma.com/investors/financials>.
  • Compliance: The call included forward-looking statements based on management's current estimates, subject to business risks. No specific statement regarding unpublished price sensitive information (UPSI) was made.

Financial Highlights Discussed:

  • Q2 FY27 Performance: Revenue of INR 18,336 million (up 23% YoY), EBITDA of INR 4,804 million (up 53% YoY), adjusted EBITDA of INR 5,030 million (margin 27%), profit after tax of INR 2,908 million (up 58% YoY).
  • H1 FY27 Performance: Revenue of INR 36,339 million (up 21.4% YoY), adjusted EBITDA of INR 10,132 million (margin 28%), profit after tax of INR 6,077 million (up 52% YoY).
  • Business Segments: CDMO revenue grew 31% YoY to INR 8,227 million (45% of total revenue); Critical Injectables revenue grew 18% YoY to INR 10,109 million.
  • Geographic Performance: US revenue grew 42% YoY to INR 11,795 million; Europe and other regulated markets grew 23% YoY to INR 4,110 million; Rest of World revenue was INR 2,044 million; India revenue was INR 387 million.
  • R&D Expenditure: INR 1,077 million (6% of revenue) in Q2; filed 11 ANDAs, received 10 approvals, launched 4 products in the US.
  • Guidance: Full-year constant currency growth guidance of 15% reaffirmed.

Operational and Strategic Updates:

  • Capacity Expansion: Announced a new brownfield expansion at Pashamylaram facility with an outlay of INR 10,000 million (three isolator-based vial lines), commercial operations expected from FY2030. Ongoing INR 2,000 crore expansion program includes ophthalmic products, BFS line, and oncology capacity. Greenfield project at Vizag SEZ in planning stage.
  • Cenexi Performance: Q2 revenue of EUR 41 million, EBITDA loss of EUR 6 million due to planned annual shutdowns; profitability expected to restore from Q3 onwards.
  • New Initiatives: Signed term sheet to in-license a second long-acting injectable product from China; strengthening leadership with new CEO (Mr. Deepak Sapra) joining November 16th and new President for Cenexi (Mr. Ajay Sahni).
  • Quality & Compliance: Vizag oncology facility completed US FDA inspection with zero observations; Dundigal facility had four procedural observations (no data integrity or repeat observations).

Additional Notes Section

  • The document is a regulatory filing enclosing the transcript of the earnings conference call.
  • No financial data was disclosed in the announcement itself; all figures are from the enclosed transcript.
  • The transcript included a full question-and-answer session with analysts.