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Glenmark Pharmaceuticals (GLENMARK) investor relations material
Glenmark Pharmaceuticals Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary17 Nov, 2025
Executive summary
Consolidated Q2 FY26 revenue rose 76.1% year-over-year to INR 60,469 million, driven by the AbbVie ISB 2001 deal and strong international performance.
North America and Europe showed robust growth, while India faced a one-time impact from GST regime changes and inventory reduction.
Specialty and innovation businesses advanced, with global expansion of RYALTRIS®, UK launch of WINLEVI®, and progress in oncology assets.
Major pipeline progress with specialty launches, global partnerships, and new regulatory approvals.
Significant settlements and restructuring, including US antitrust lawsuits and business transfers, impacted results.
Financial highlights
Q2 FY26 consolidated revenue: INR 60,469 million, up 76.1% year-over-year.
North America Q2 sales: INR 44,656 million, up 503% YoY, driven by ISB 2001 deal; core business grew 7.4% YoY.
Europe Q2 sales: INR 7,600 million, up 8.5% YoY, with double-digit growth in Western Europe.
India Q2 revenue dropped 87.1% YoY to INR 1,650 million due to GST-related inventory adjustments.
Consolidated net profit after tax for Q2 FY26 was INR 6,104 million, with EBITDA margin at 39.0%.
Outlook and guidance
India business expected to return to INR 1,150-1,200 crore quarterly run rate from Q3, with FY27 target of over INR 4,800 crore.
FY27 group revenue guidance: INR 17,000-18,000 crore; anticipated 12-15% annual revenue growth.
EBITDA margin projected to stabilize at ~23% from H2 FY26, with target of 25%+ in coming years.
ROCE estimated at 25-30% and ROE at 20-25% for FY27.
Zero gross debt expected by FY26, with strong free cash flow and industry-leading return ratios.
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Next Glenmark Pharmaceuticals earnings date
Q3 202613 Feb, 2026
Next Glenmark Pharmaceuticals earnings date
Q3 202613 Feb, 2026
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Frequently asked questions
Glenmark Pharmaceuticals Ltd. is a pharmaceutical company engaged in the research, development, manufacturing, and marketing of generic and specialty medicines. The company operates across multiple therapeutic areas, including dermatology, respiratory, oncology, and cardiovascular diseases. The company is headquartered in Mumbai, India, and its shares are listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE).
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