Makes complex injectable pharmaceutical products for global markets, with a growing contract development and manufacturing (CDMO) business that accounted for 46% of consolidated revenues in FY26 and grew 28% year-over-year. The base injectables/generics business covers the balance of revenue; the company launched 31 products in the US in FY26, including 5 in Q4 alone, and recently won USFDA approval for Sugammadex Injection. The European CDMO arm, Cenexi, returned to EBITDA positive in Q4 FY26, delivering EUR 182 million in FY26 revenue (+11% YoY). Operations span six domestic plants in India and four international plants, and 88.44% of revenue comes from exports across around 60 countries. The biggest cost line is materials and consumables at 34.8% of revenue, followed by employee costs at 25.3%, with capex planned at INR 500 crore in FY27 and INR 2,000 crore over the next five years. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. CDMO services (46%), Generic injectables (base business). Asset-heavy sterile injectables manufacturer with growing CDMO services and R&D spend of around 5% of base-business revenue.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 4,401 | 3,625 | 5,665 | 5,617 | 6,431 |
| EBITDA (ex other income) | 1,510 | 968 | 1,333 | 1,269 | 1,605 |
| margin % | 34.3 | 26.7 | 23.5 | 22.6 | 25.0 |
| Owners' profit | 1,212 | 781 | 772 | 699 | 1,027 |
| EPS, as reported (₹) | 73.81 | 47.44 | 46.90 | 42.40 | 62.35 |
| ROE % · ROCE % | 16.9 · 22.4 | 9.8 · 13.2 | 8.9 · 12.5 | 7.6 · 11.4 | 9.9 · 13.7 |
| Debt / equity (x) | 0.00 | 0.00 | 0.04 | 0.03 | 0.02 |
| Cash from operations | 791 | 364 | 997 | 915 | 1,031 |
| Capex | (511) | (221) | (390) | (385) | (491) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,406 | 1,384 | 1,425 | 1,506 | 1,487 | 1,695 | 1,743 | 1,800 |
| Profit before tax | 257 | 299 | 288 | 313 | 284 | 362 | 506 | 435 |
| Net profit | 164 | 205 | 187 | 215 | 184 | 261 | 367 | 317 |
| EPS (₹) | 9.93 | 12.42 | 11.32 | 13.08 | 11.15 | 15.87 | 22.26 | 19.23 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SUN PHARMACEUTICAL IND L | 4,41,471 | 36.5 | 5.26 | 23.7 | 13.7 | 17.5 | 11.8 | 32.3 |
| DIVI S LABORATORIES LTD | 2,47,033 | 84.6 | 14.74 | 63.7 | 15.3 | 18.8 | 8.7 | 42.8 |
| TORRENT PHARMACEUTICALS L | 1,68,062 | 79.3 | 9.56 | 41.5 | 12.2 | 8.0 | 11.8 | 33.1 |
| ZYDUS LIFESCIENCES LTD | 1,11,686 | 24.9 | 3.78 | 14.5 | 17.3 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 10 Sept 2026 · Gland Pharma schedules investor and analyst meetings from Sep 16 to 25 | board shareholder meetings | low | — | — |
| 8 Sept 2026 · Gland Pharma to meet DSP Mutual Fund on September 11 | board shareholder meetings | low | — | — |
| 8 Sept 2026 · Fosun Pharma sells 6 percent stake in Gland Pharma via open market | ownership changes | high | — | — |
| 4 Sept 2026 · Gland Pharma to meet Kotak Mutual Fund on Sept 9, 2026 | board shareholder meetings | low | — | — |
| 1 Sept 2026 · USFDA inspection at Visakhapatnam facilities concluded with zero observations | regulatory legal | high | — | — |
| 1 Sept 2026 · USFDA inspection at Visakhapatnam facility closed with zero observations | business updates | high | — | — |
| 31 Aug 2026 · Gland Pharma schedules investor meetings from Sept 3 to Sept 24 | board shareholder meetings | low | — | — |
| 26 Aug 2026 · Gland Pharma AGM 2026: All 5 resolutions passed; final dividend approved | board shareholder meetings | low | — | — |
| 25 Aug 2026 · Gland Pharma 48th AGM held; FY26 PAT up 47% at Rs 10,273 mn | board shareholder meetings | medium | — | — |
| 23 Aug 2026 · Gland Pharma schedules investor meetings with Nomura and HDFC MF | board shareholder meetings | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 18.0 |
| 12.4 |
| 25.2 |
| CIPLA LTD | 1,10,352 | 32.7 | 3.20 | 16.9 | 11.2 | 14.7 | 8.0 | 19.7 |
| LAURUS LABS LIMITED | 1,06,375 | 97.2 | 19.59 | 59.3 | 16.4 | 17.2 | 7.2 | 32.0 |
| DR. REDDY S LABORATORIES | 97,319 | 30.1 | 2.55 | 13.1 | 10.9 | 13.0 | 12.1 | 15.0 |
| AUROBINDO PHARMA LTD | 96,656 | 26.3 | 2.55 | 13.4 | 9.2 | 12.6 | 6.3 | 23.0 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 42.7 | 28.9 | 117 of 169 | 31% |
| P/B | 4.7 | 3.3 | 109 of 163 | 33% |
| ROCE | 13.4 | 10.8 | 75 of 183 | 59% |
| ROE | 9.9 | 10.4 | 88 of 171 | 49% |
| Debt / Equity | 0.0 | 0.1 | 59 of 171 | 66% |
| EBITDA margin | 30.6 | 17.5 | 32 of 165 | 81% |
| Revenue growth | 19.6 | 16.3 | 72 of 161 | 55% |
| Profit growth | 47.1 | 30.9 | 66 of 158 | 59% |
| Market cap | 48300 | 839 | 16 of 182 | 92% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
