India · Delayed Price · Currency is INR GlaxoSmithKline Pharmaceuticals Earnings Call Transcripts
Fiscal Year 2026
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Quarterly revenue surpassed INR 1,000 crore with strong growth in general medicines, specialty, and vaccines. EBITDA margin improved to 35.9%, and new oncology launches expanded the addressable market. Supply constraints are resolved, and the company targets double-digit growth ahead.
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Q2 sales declined 2.6% to INR 974 crore due to a CMO fire and market softness, but EBITDA margin improved to 34.4%. Vaccines and specialty segments grew strongly, and the oncology business launched in August is expected to drive future growth.
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Flat revenue in Q1 was offset by strong margin expansion and double-digit PAT and EPS growth, despite supply disruptions and muted demand in acute and derma segments. Oncology launches and vaccine growth are expected to drive a rebound and support double-digit growth ambitions for FY26.
Fiscal Year 2025
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Revenue grew 9% year-over-year, led by strong volume gains in general medicine and specialty segments, with EBITDA margin rising to 31%. Two oncology launches are planned for FY 2026, and management targets above-market growth while maintaining a robust cash position.
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Q3 saw 18% revenue growth and 33% EBITDA growth, with all segments posting double-digit gains. Margin improvements, strong cash flow, and new product launches in oncology and adult vaccines underpin a positive outlook, despite industry headwinds and seasonality.
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Q2 revenue surpassed INR 1,000 crore, up 5% year-over-year, with strong growth in Specialty and Vaccines. EBITDA margin reached 32%, and the NLEM price impact is now fully absorbed. New launches and digital expansion are set to drive future growth.
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Q1 saw 10% revenue growth, 62% EBITDA growth, and a 9-point margin improvement, driven by strong performance in general medicines, specialty, and vaccines. Digital engagement and new launches supported momentum, with double-digit growth expected to continue.
Fiscal Year 2024
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Revenue grew 10% with strong specialty and vaccine performance, and EBITDA margin rose to 28%. Digital and omnichannel strategies boosted engagement, while new launches and clinical trials support future growth. Margin improvements and double-digit growth trends are expected to continue.