Investor Presentation - Q4 FY 25-26
GLENMARK · price
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Glenmark Pharmaceuticals reported Q4 FY26 consolidated revenue of Rs. 37,706 million, up 15.8% YoY, with EBITDA of Rs. 7,626 million (20.2% margin) and PAT of Rs. 3,013 million (7.6% margin). North America saw exceptional growth of 136.6% for the full year to Rs. 71,390 million, boosted by the AbbVie licensing deal for ISB 2001 (USD 700 million upfront, potential USD 1.925 billion total). India business grew 8.2% in Q4 but declined 17% for the full year to Rs. 37,237 million. Key launches included 13 new products in North America, RYALTRIS® commercialization in the USA, WINLEVI® launch in UK, and GLIPIQ® (semaglutide) in India. The Monroe manufacturing facility received U.S. FDA EIR with VAI classification, enabling restart of commercial manufacturing.
Strong quarter driven by the AbbVie deal recognition and robust North America performance. However, the India business full-year decline and relatively low PAT margin of 7.6% despite high EBITDA margin suggest operational cost pressures. Investors should monitor margin sustainability as licensing income normalizes.