GLAXONSEGlaxoSmithKline Pharmaceuticals Limited· PharmaceuticalsMediumNeutral
Announced Mon, 18 May · 13:05 IST

GlaxoSmithKline Pharmaceuticals Limited has informed the Exchange about Transcript

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Price reaction · full curve 14 horizons · vs prior close
-2.1%1-day move
₹2438.90
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₹2387.20
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AI summary

GSK Pharmaceuticals reported FY2026 full year results with revenues up 2% (muted due to supply disruptions from a CMO incident), EBITDA growing 11% and PAT growing 10%. The company crossed INR1,000 crores in PAT for the first time, with EPS at INR59.6 per share. EBITDA margins improved sharply to 34% for the full year, up 290 basis points, driven by gross margin improvement of 190 basis points and SG&A efficiencies from field force productivity and AI-led optimization. Q4 standalone showed sales up 2%, EBITDA up 5% and PAT up 6%, with EBITDA margin at 35%. The innovation/specialty portfolio now contributes 6% of sales, up from 2% previously, with management targeting 10% contribution. Vaccines delivered double-digit growth (~11-12%), while General Medicines was flat after losing INR100 crores due to supply constraints. Key launches include Belantamab for multiple myeloma and ongoing trials for Bepirovirsen in hepatitis B. The company declared a final dividend of INR57 per share and maintains a strong cash position of INR2,745 crores.

Likely market impact

Strong profitability improvement with margin expansion to 34% EBITDA. Management prioritizes top-line growth over margin expansion and plans reinvestment for upcoming launches in oncology, adult vaccines, and other innovative therapies. Supply issues are now resolved and underlying business fundamentals remain healthy.