Q4FY26 Earnings Call Transcript

Gland Pharma reported its highest-ever quarterly revenue of INR 17,428 million in Q4 FY26, up 22% YoY, with adjusted EBITDA of INR 5,244 million (30% margins) and adjusted PAT of INR 3,667 million (21% margins). Full-year FY26 revenue stood at INR 64,307 million (+14.5%), with adjusted EBITDA of INR 16,826 million (26% margins) and adjusted PAT of INR 10,455 million (16% margins). The CDMO business accounted for 46% of total revenues, growing 28%, while the US base business posted Q4 revenue of INR 9,716 million (+26%). Cenexi contributed EUR 45 million in Q4 (EUR 182 million full year, +11%) and returned to EBITDA positivity, with a target of mid-single to high-single digit EBITDA by end of FY27 and EUR 200 million revenue. Key product launches include Dalbavancin (Feb) and multivitamins (Apr), with a major CDMO project commercializing in H2 FY28 with USD 25-30 million annual potential. The company has 8 signed GLP-1 contracts with 6-7 more expected, 140 million cartridge capacity, and plans INR 2,000 crore capex over five years.