GlaxoSmithKline Pharmaceuticals (500660) Q3 25/26 earnings summary

Executive summary

• Achieved milestone quarterly revenue, surpassing INR 1,000 crores for the first time, with 8.1% standalone and nearly 10% consolidated growth year-over-year, driven by recovery in general medicines, specialty, and vaccines portfolios.

• Focused on innovation, portfolio transformation, and digital engagement to drive market share and category leadership.

• Standalone and consolidated unaudited financial results for the quarter and nine months ended 31st December 2025 were approved by the Board on 9th February 2026.

• Financial statements have been reviewed by the Audit Committee and limited review conducted by statutory auditors.

Financial highlights

• Revenue reached ₹1,023 crore, up 8.1% year-over-year for Q3 FY26, with EBITDA margin at 35.9% (+520bps YoY) and EBITDA growth of 26.7%.

• PAT margin improved to 27.3% (+290bps YoY), with EPS for Q3 at ₹16.36, up 9% year-over-year.

• Standalone net profit for Q3 FY26 was ₹27,718 lakhs, compared to ₹22,858 lakhs in Q3 FY25.

• Net cash position remains strong at INR 2,426 crores.

• One-off labor code impact of INR 11.8 crores included in employee expenses.

Outlook and guidance

• Management aims to sustain current margin levels, focusing on competitive performance, disciplined cost control, and scaling oncology and adult immunization.

• Double-digit annual revenue growth targeted over the next five years to reach INR 8,000 crore top line, driven by base business and new launches.

• The company continues to monitor regulatory changes, especially regarding new labour codes, and will adjust accounting as needed.