Glenmark Pharmaceuticals Limited FY26 Comprehensive Financial and Operational Summary

Reporting Period: Fiscal Year 2025-2026 | Document Dates: May 29, 2026 (Results) & August 13, 2026 (AGM Notice)

Financial Performance Overview

Glenmark reported contrasting financial results for FY26, with consolidated revenue surging 27.5% to ₹169,825 million driven by strong performance across all geographic segments (42% North America, 22% India, 19% Europe, 17% Rest of World). However, the company reported a standalone net loss of ₹2,008 million compared to a profit of ₹16,104 million in FY25, primarily due to exceptional expenses totaling ₹22,661 million including:

  • ₹6,013 million for US antitrust litigation settlements
  • ₹5,901 million inventory provisions
  • ₹4,958 million receivables and asset provisions
  • ₹2,279 million property, plant and equipment impairment
  • ₹1,395 million legal costs
  • ₹1,139 million employee benefits provision for New Labour Codes

Consolidated net profit increased 30% to ₹13,619 million with basic EPS rising to ₹48.26 from ₹37.11, demonstrating the strength of the broader group operations despite standalone challenges.

48th Annual General Meeting Details

The company will hold its 48th AGM on September 11, 2026 via video conferencing with key agenda items including:

  • Adoption of standalone and consolidated financial statements
  • Declaration of dividend of ₹2.50 per share (record date: August 31, 2026)
  • Re-appointment of Mrs. Blanche Saldanha (86) as Non-Executive Director
  • Ratification of cost auditor remuneration of ₹2.8 million for FY2027

Corporate Restructuring and Business Updates

Significant corporate actions during FY26 included:

  • Transfer of Consumer Care business to wholly-owned subsidiary Glenmark Consumer Care Limited on slump sale basis
  • Post-year-end transfer of Nebulizer brands/IP portfolio to Glenmark Healthcare Limited
  • Board composition changes with appointment of Ms. Patricia Andrews as Additional Independent Director
  • Management changes with Ms. Rashmi Khandelwal replacing Mr. Harish Kuber as Company Secretary & Compliance Officer

Credit Rating Updates

The company received positive rating actions with:

  • Crisil Ratings and India Ratings revising outlook to 'Positive' from 'Stable'
  • S&P Global affirming 'BB+' with Stable outlook
  • All agencies maintaining strong investment grade ratings

Tax and Regulatory Developments

  • Adoption of new tax regime under Section 115BAA effective April 1, 2026, reducing tax rate to 22%
  • MAT credit entitlement of ₹7,245 million recognized as deferred tax asset
  • Compliance with all SEBI Listing Regulations and Companies Act, 2013 requirements
  • Multiple ongoing legal proceedings including NPPA pricing matters, CCI cases, and US antitrust litigation

Operational Highlights

  • R&D expenditure: ₹3,864 million (4.19% of turnover)
  • Employee strength: 17,782 total workforce
  • CSR spending: ₹365 million (exceeding mandatory requirement)
  • ESG performance: Water positive (2.32x), zero waste to landfill at India sites
  • Export contribution: 57.99% of standalone revenue (₹48,943 million)

Balance Sheet and Capital Structure

  • Total assets: ₹294,852 million (standalone)
  • Cash position: ₹11,747 million (consolidated)
  • Share capital: ₹282.20 million (282,200,809 shares)
  • Promoter holding: 46.66% primarily through Saldanha Family Trust
  • ESOP outstanding: 131,881 options under 2016 scheme

Future Outlook

The company maintains strong fundamentals with revenue growth momentum, improved credit ratings, and strategic business restructuring positioning it for sustainable growth despite one-time exceptional charges impacting FY26 profitability.

All financial statements received unqualified audit opinions from Walker Chandiok & Co LLP confirming compliance with accounting standards and adequate internal financial controls.