Glenmark Pharmaceuticals (GLENMARK) Q1 26/27 earnings summary

Executive summary

• Consolidated revenue from operations grew 23.1% year-over-year to INR 40,185 million in Q1 FY27, with broad-based growth across India, North America, Europe, and emerging markets.

• India, North America, Europe, and Emerging Markets all delivered double-digit revenue growth, driven by new product launches and strong execution.

• Focus remains on strengthening core businesses and expanding specialty and innovation-led platforms, with notable progress in respiratory, dermatology, and oncology portfolios.

• Board approved unaudited standalone and consolidated financial results for the quarter ended June 30, 2026.

• 48th AGM scheduled for September 11, 2026, with record date for dividend entitlement set as August 31, 2026.

Financial highlights

• Consolidated revenue from operations for Q1 FY27 was INR 40,185 million, up from INR 32,644.40 million in Q1 FY26.

• EBITDA stood at INR 8,048 million, with an EBITDA margin of 20.03%.

• Profit after tax (PAT) was INR 4,828.28 million, resulting in a PAT margin of 11.8%.

• R&D spend for the quarter was INR 2.89 billion, with guidance to remain at 7%-8% of revenue.

• Gross margin maintained despite increased costs from geopolitical factors.

Outlook and guidance

• Guidance for full-year operating margins remains at 21%-22%, with cost pressures expected to be offset by new launches and strong India growth.

• Anticipated further launches and expansion in respiratory, dermatology, and oncology segments, including RYALTRIS and WINLEVI.

• India business expected to sustain 12%-15% annual growth, driven by volume and new product launches.

• Europe expected to finish the year at high single-digit growth, returning to double-digit growth next year as branded launches scale.

• The company continues to monitor the impact of new Indian Labour Codes and will account for further changes as they become applicable.