India · Delayed Price · Currency is INR Gland Pharma Earnings Call Transcripts
Fiscal Year 2026
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Q4 FY 2026 delivered record revenue and profitability, led by strong CDMO growth, new launches, and Cenexi turnaround. FY 2027 guidance is 12%-13% revenue growth (constant currency), with CDMO and new products as key drivers. GLP-1 upside is excluded from guidance.
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Q3 FY 2026 delivered 22% revenue growth and 25% higher adjusted EBITDA, driven by strong U.S. and European performance, Cenexi turnaround, and new product launches. Five-year CapEx of INR 2,000 crore targets capacity expansion, with 12%-13% growth expected for FY 2027 and a 15% five-year CAGR.
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Q2 FY2026 saw 6% revenue growth and margin expansion, driven by new launches, CDMO wins, and Cenexi improvements. Guidance for mid-teens revenue growth is maintained, with major product launches and capacity expansions expected to further boost performance in H2.
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Q1 FY26 saw 7% revenue growth and a 39% EBITDA increase, with margin expansion to 24% and net profit up 50% year-over-year. Cenexi achieved break-even EBITDA, and GLP-1 cartridge capacity is set to reach 140 million by March, with strong growth expected in U.S. and RoW markets.
Fiscal Year 2025
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FY25 saw flat revenues but improved margins, with strong new product launches and expansion in complex injectables and GLP-1. Guidance for FY26 is mid-teens consolidated growth, driven by U.S. and biologics, while Cenexi targets positive EBITDA by Q3 FY26.
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Q3 FY25 saw improved margins and profitability despite lower US volumes, with new launches and cost controls supporting growth. Cenexi's break-even is delayed to Q3 FY26 due to regulatory issues, while strategic collaborations and capacity expansions are set to drive future revenue.
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Revenue grew 2% YoY in Q2 FY25, with base business up 5% and Cenexi down due to shutdowns. EBITDA margin was 21%, impacted by Cenexi losses, while base business margin remained strong. Guidance is for low double-digit growth, with Cenexi targeting EBITDA break-even in Q4.
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Q1 FY 2025 revenue grew 16% year-over-year, led by strong U.S. market performance and Cenexi contribution, though consolidated EBITDA and net profit declined due to Cenexi's negative margin. Cenexi's turnaround and biologics CDMO expansion are key future growth drivers.