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Contract development and manufacturing organisation and an injectables firm, Gland Pharma Ltd, on Monday (November 3) reported a 12.3% year-on-year increase in consolidated net profit (PAT) to ₹184 crore for the quarter ended September 30, 2025, up from ₹164 crore in Q2 FY25.
Consolidated revenue for the quarter grew 5.8% YoY to ₹1,486.8 crore from ₹1,405.8 crore. EBITDA rose 5.8% YoY to ₹314 crore, compared with ₹297 crore in the same quarter last year, while the EBITDA margin remained stable at 21.1%.
On a half-year basis, consolidated revenue increased 7%, and half-yearly EBITDA rose 21%, with the EBITDA margin at 23%. Quarterly adjusted EBITDA increased 13% YoY, with margins expanding 150 bps, while half-yearly adjusted EBITDA grew 26%, with margin improvement of 370 bps. Quarterly PAT margin expanded by 70 bps YoY, and half-yearly PAT margin improved by approximately 240 bps.
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For the base business (Gland), quarterly revenue increased 1% YoY, with half-yearly revenue up 2%. Quarterly EBITDA for the base business grew 3% YoY, and half-yearly EBITDA increased 12%, with both maintaining margins at 35%.
Adjusted EBITDA for the base business rose 9% YoY for the quarter and 16% for the half-year, with quarterly margin expansion of ~270 bps and half-yearly margins up ~430 bps. Quarterly PAT for the base business increased 7% YoY, while half-yearly PAT grew 13%, supported by margin improvements of 170 bps quarterly and ~265 bps half-yearly.
R&D investments for Q2 FY26 increased to ₹614 million, representing 5.8% of revenue, up from ₹460 million in Q1 FY26. During the quarter, the company launched seven new molecules in the US, including Daptomycin-RTU, Sumatriptan, and a new strength of Colistimethate. Six ANDAs were filed and five approved during the quarter, contributing to a cumulative total of 378 ANDA filings in the U.S. (329 approved, 49 pending).
Srinivas Sadu, Executive Chairman of Gland Pharma, stated, “Gland Pharma delivered a strong first half of FY26, with Revenue growth of 7% and PAT up by 30% YoY. We expect stronger momentum in the second half, driven by new launches and Cenexi’s recovery.
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Our investments in global CDMO expansion, capacity enhancement in high-end modalities and complex injectables pipeline continue to strengthen our foundation and support sustainable growth and long-term value for all stakeholders."
The in-house complex injectables pipeline continues to be a key growth driver, with six products already launched and three more awaiting approval. Fifteen products are in co-development partnerships (seven 505(b)(2) and eight ANDAs), with commercialisation expected from FY28.
The Ready-to-Use (RTU) infusion bag portfolio expanded with 20 products filed and 14 approvals received, addressing a U.S. market opportunity of approximately $659 million. An additional 10 products are under development.
Shyamakant Giri, Chief Executive Officer of Gland Pharma, said, "For the quarter, Gland Pharma’s core business maintained its profitable growth trajectory with strong margin expansion.
Encouragingly for consolidated business, we saw year-over-year improvement during Q2 FY26, with the USA growing by 10% and Europe by 16%, supported by a 21% top-line increase in Cenexi. With the current momentum, we anticipate a robust growth in the upcoming quarters."
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In the GLP-1 segment, the company launched its first partnered GLP-1, Liraglutide, in Q4 FY25 and is scaling GLP-1/pen/cartridge production capacity from ~40 million to 140 million units, while exploring opportunities beyond GLP-1s.
Shares of Gland Pharma Ltd ended at ₹1,969.25, up by ₹39.75, or 2.06%, on the BSE.
