Gland Pharma (GLAND) investor relations material

Executive summary

• Q1 FY26 revenue grew 7% year-over-year to INR 15,056 million, with EBITDA up 39% to INR 3,678 million and PAT rising 50% to INR 2,155 million; EBITDA margin increased to 24-25% from 19% in Q1 FY25.

• Strong performance in US and regulated markets, with nine new molecules launched and portfolio expansion; Cenexi achieved breakeven EBITDA.

• Operations span 7 domestic and 4 international plants, with exports contributing 88.97% of turnover for FY2024-25.

• Focus on complex injectables, oncology, and ophthalmics, operating primarily on a B2B model.

• Workforce of 4,313 permanent employees, with 13% female representation and 25% women on the Board.

Financial highlights

• Gross margin improved to 65% from 60% year-over-year; base business gross margin (ex-Senexi) rose to 59% from 53%.

• Consolidated EBITDA rose 39% year-over-year to INR 3,678 million; adjusted EBITDA up 41% to INR 3,737 million.

• Cash and equivalents at group level stood at INR 30,139 million as of June 30, 2025; net cash at INR 18,394 million.

• Cash flow from operations for Q1 FY26 was INR 2,620 million.

• Turnover for FY2025: INR 41,161.49 million; net worth: INR 97,551.02 million.

Outlook and guidance

• Guidance maintained for mid-teens growth for the year, with new launches in the US and Europe expected to drive acceleration in H2.

• Focus on expanding complex injectables pipeline and increasing GLP-1/pen/cartridge capacity from 40 million to 140 million units.

• Strategic focus on sustainability, regulatory compliance, and ESG targets.

• ROW business expected to double over a few years, with ongoing portfolio optimization and market expansion.

• Ongoing transition to cleaner fuels and solar power to reduce emissions.