Gland Pharma reports strong Q2, H1 FY26 earnings with strategic growth

Gland Pharma reported consolidated revenue of INR14,869 million in Q2 FY26, a 6% increase year-on-year, with adjusted EBITDA reaching INR3,355 million, reflecting a 23% margin. For the first half of FY26, consolidated revenue was INR29,925 million, up 7% from H1 FY25, and adjusted EBITDA stood at INR7,092 million, with a 24% margin. The company's core business saw significant growth, with U.S. revenue up 8% to INR8,005 million in Q2, and other regulated markets growing 18% year-on-year in H1.

Cenexi, Gland Pharma's European arm, reported €40 million in revenue for Q2, an 8% increase over the same period last year, and €88 million for H1 FY26, reflecting a 10% growth year-over-year. EBITDA losses at Cenexi decreased to €5 million from €11 million. Gland Pharma continues to invest in R&D, deploying INR614 million (5.8% of sales) in Q2, primarily for complex injectables and next-generation delivery systems, and aims for mid-teen consolidated revenue growth in the coming years.

Strategic initiatives include expanding CDMO capabilities, with plans to increase biologic CDMO capacity to 23 KL and cartridge fill/finish capacity from 40 million to 140 million units to support GLP-1 and insulin programs. The company remains focused on high ROCE, high-growth initiatives and maintains a strong compliance record to capture emerging opportunities in the global injectables market.