Key Financial Figures - Q1 FY27 (Consolidated)

  • Revenue: ₹40,185 million, representing YoY growth of 23.1%
  • EBITDA: ₹8,048 million
  • EBITDA Margin: 20.03%
  • PAT: ₹4,828 million
  • PAT Margin: 11.8%
  • R&D Expenditure: ₹2,494 million

Regional Performance Breakdown (Q1 FY27 vs Q1 FY26)

| Region | FY 2027 (₹ million) | FY 2026 (₹ million) | YoY Growth |

| India | 14,321 | 12,399 | 15.5% |

| North America | 10,974 | 7,780 | 41.1% |

| Europe | 7,472 | 6,678 | 11.9% |

| Emerging Markets | 7,304 | 5,721 | 27.7% |

| Total | 40,071 | 32,578 | 23.0% |

| Other Revenue | 114 | 66 | 72.4% |

Note: North America revenue for Q1 FY27 includes deferred out-licensing income recognition for ISB 2001. Emerging Markets include Russia + CIS (RCIS), Latin America (LATAM), Middle East and Africa (MEA), and Asia-Pacific (APAC).

Regional Business Highlights

India Business

  • Growth of 15.5% YoY
  • Business continued to outperform the market

North America Business

  • Core business growth of 19.8% YoY
  • Robust underlying growth driven by first-to-market respiratory launches

Europe Business

  • Growth of 11.9% YoY
  • Continued strong growth in branded markets/products
  • Increasing contribution from Branded portfolio across Respiratory and Dermatology
  • RYALTRIS® continues to gain market share across the region
  • 8 additional products launched
  • Expansion of branded Dermatology portfolio: WINLEVI® launched in UK + select EU markets, HILKOTA™ approved in Nordic countries

Emerging Markets Business

  • Growth of 27.7% YoY
  • Continued outperformance in Russia Dermatology market
  • Very strong secondary sales growth in LATAM and MEA markets
  • Respiratory portfolio continues outperformance in the covered market
  • RYALTRIS® continues to be the leading nasal spray in the region
  • RYALTRIS® launched in China and Thailand in Q4 FY26
  • Targeting Brazil launch in H2 FY27

Global Innovative Portfolio Update

RYALTRIS®

  • Commercialized in 57 markets
  • Launched in China, Thailand in Q4 FY26
  • Initiated commercialization in the USA
  • Robust secondary sales growth of >40% in Q1 FY27

WINLEVI®

  • Launched in several EU markets - Nordics, CEE and Spain
  • Continued uptake in the UK since launch in FY26

Marketing Authorization Status

  • Marketing authorization applications filed in 24 countries
  • Initiated early access programs or Named Patient Programs in seven markets
  • First wave of MA applications to begin Q2 FY27
  • Submitted MA applications in 13 markets as of June 2026
  • First commercial launch anticipated during H2 FY27

Pipeline Development Updates

Clinical Trials

  • Glenmark initiated Phase 3 clinical trial in Platinum resistant Ovarian Cancer (PROC) in India
  • Initiated a global multi-center Phase 3 study in adjuvant NSCLC

Pipeline Assets Status

Oncology Assets:
  • ISB 2001 (ABBV-2001): CD38 x BCMA x CD3 Trispecific T-cell engager for Multiple Myeloma
  • ISB 2301: Multispecific immune cell activator for Solid Tumors
  • ISB 2302: Bispecific immune modulator for Hematologic & Solid Tumors
  • ISB 2501: Trispecific T-cell engager for Solid Tumors
Immunology Assets:
  • ISB 880 (LAD191): IL-1RAP antagonist mAb for Hidradenitis Suppurativa
  • Telazorlimab (ISB 830)/ISB 830-X8 (STAR 0310): OX40 antagonist mAb for Atopic Dermatitis

IGI - Key Updates

ISB 2001/ABBV-2001

  • To date, >160 subjects have been dosed in the TRIgnite 1 Phase 1 study (42 in dose escalation and >120 in dose expansion)
  • Safety and efficacy data from all subjects continue to be promising and consistent with data previously presented at ASCO 2025
  • A Phase 1/2 multi cohort combination study in Multiple Myeloma with other anti-myeloma therapies has been initiated (NCT06892522)

ISB 2301

  • A first-in-class multispecific immune cell activator targeting solid tumors
  • IGI intends to submit an IND later this year (CY26)

Other Assets

  • ISB 2302 (Bispecific immune modulator) and ISB 2501 (Trispecific T-cell engager) are both in early preclinical development

Management Commentary

Glenn Saldanha, Chairman and Managing Director, stated: "We have started FY27 with broad-based growth across our key markets, reflecting strong execution and the resilience of our business. India continued to outperform the market, North America delivered robust underlying growth driven by our first-to-market respiratory launches, and Emerging Markets sustained strong momentum, underscoring the strength of our diversified global business. The results reinforce the direction of Glenmark's next phase: strengthening our core businesses while expanding our differentiated specialty and innovation-led platforms. With RYALTRIS® continuing to grow globally, WINLEVI® gaining traction across Europe, and further progress across our oncology portfolio and IGI's pipeline, we remain focused on disciplined execution, sustainable and profitable growth and creating long-term value."

Foreign Exchange Rates

  • Average conversion rate in 3M FY 2026-27: INR 94.53 / USD 1.00
  • Average conversion rate in 3M FY 2025-26: INR 85.54 / USD 1.00
  • Note: USD figures are only indicative

Disclaimer Notes

The presentation contains forward-looking statements subject to risks and uncertainties. The document notes that certain information is not audited or reviewed by an auditor and is not based on Indian Accounting Standards or internationally accepted accounting principles.