News ArticleGlenmark Pharmaceuticals Posts Rs. 42,473 Million Revenue in Q2 FY27 with 20% Like-for-Like Growth
Adjusted Profit After Tax reaches Rs. 4,852 million amid growth in India, North America, Europe and Emerging Markets
Glenmark Pharmaceuticals Ltd announced its Q2 FY27 consolidated revenue at Rs. 42,473 million with a like-for-like year-on-year growth of approximately 20%. Key segments including India formulations, North America core business, Europe, and Emerging Markets all showed growth, supported by EBITDA margins of 20.3% and an adjusted PAT margin of 11.4%. The firm emphasized strong performance in India and new launches in oncology and respiratory therapies.
Glenmark Pharmaceuticals Limited
General / Other
Glenmark Pharmaceuticals Limited reported consolidated revenues of Rs. 42,473 million for the second quarter ended September 30, 2026, showing approximately 20% year-on-year growth on a like-for-like basis. The company delivered EBITDA of Rs. 8,638 million and an adjusted PAT of Rs. 4,852 million, reflecting steady performance across its key operating regions including India, North America, Europe, and Emerging Markets.
Glenmark's India formulations reported revenues of Rs. 13,274 million with a like-for-like growth of approximately 14% year-on-year. The company's North America revenue stood at Rs. 12,089 million, and net of deferred out-licensing income recognition related to ISB 2001, the core business exhibited about 31% growth year-on-year.
Europe revenues increased by 6.2% to Rs. 7,920 million and Emerging Markets grew 33.2% year-on-year to Rs. 8,769 million in the quarter. The consolidated EBITDA margin was 20.3% and adjusted PAT margin was 11.4%, indicating operational efficiency.
Glenmark highlighted ongoing advances in its oncology pipeline including the oral presentation of Phase 1 ISB 2001 data at the 2026 American Society of Hematology meeting and plans to submit an IND application for ISB 2301 by year-end. The company is progressing with innovative oncology therapies alongside maintaining strength in respiratory and dermatology segments.
The India business continued outperforming the Indian Pharmaceutical Market with leading positions in dermatology, respiratory, and cardiac segments. Glenmark also launched TEVIMBRA® and BRUKINSA® oncology therapies and introduced NEBZMART® GFB Smartules® and Glenmark AIRZ® FB Smartules® for COPD treatment.
Reported profit after tax was Rs. 2,638 million with a margin of 6.2%, reflecting deferred income recognition effects impacting the reported figures.
Highlights
- Consolidated revenue for Q2 FY27: Rs. 42,473 million with ~20% like-for-like YoY growth
- India formulations revenue of Rs. 13,274 million, ~14% like-for-like growth YoY
- North America core business revenue grew approximately 31% YoY excluding deferred out-licensing income
- Europe revenue at Rs. 7,920 million, up 6.2% YoY
- Emerging Markets revenue rose 33.2% YoY to Rs. 8,769 million
- EBITDA of Rs. 8,638 million with a margin of 20.3% for Q2 FY27, adjusted PAT at Rs. 4,852 million with 11.4% margin
Key Data Snapshot
What happened
- Glenmark Pharmaceuticals announced its consolidated financial results for the quarter ended September 30, 2026 (Q2 FY27).
- Total consolidated revenue was Rs. 42,473 million, with a like-for-like growth of approximately 20% compared to the previous year.
- Adjusted profit after tax reached Rs. 4,852 million with a margin of 11.4%, and EBITDA margin was 20.3%.
Key details
- India formulations revenue was Rs. 13,274 million, achieving about 14% year-on-year growth on a like-for-like basis.
- North America revenue was Rs. 12,089 million including deferred out-licensing income; excluding it, core business revenue grew about 31% year-on-year.
- Europe generated Rs. 7,920 million while Emerging Markets reported Rs. 8,769 million in revenue, growing 6.2% and 33.2% respectively year-on-year.
- Reported profit after tax was lower at Rs. 2,638 million due to recognition of deferred income.
Financial performance
- EBITDA for the quarter was Rs. 8,638 million with a margin of 20.3%.
- Adjusted profit after tax stood at Rs. 4,852 million, representing an 11.4% margin.
- Reported PAT was Rs. 2,638 million with a margin of 6.2%, impacted by deferred revenue accounting.
Background and context
- Glenmark’s core business focuses on branded, generics and OTC pharmaceutical products with leadership in dermatology, respiratory and oncology.
- The company is progressing in innovation with oncology assets such as ISB 2001 and ISB 2301 moving toward clinical milestones and regulatory submissions.
- India market performance remains strong with the company holding top ranks in dermatology, respiratory and cardiac therapy areas and improving in oncology.
Next milestones
- Glenmark plans to submit an IND application for ISB 2301 before the end of calendar year 2026.
- The company expects the first commercial launch of partnered innovative oncology assets by the end of fiscal year 2027.
- Further growth and market share gains are anticipated in India and Emerging Markets alongside new product launches.
Highlights
- Consolidated revenue for Q2 FY27: Rs. 42,473 million with ~20% like-for-like YoY growth
- India formulations revenue of Rs. 13,274 million, ~14% like-for-like growth YoY
- North America core business revenue grew approximately 31% YoY excluding deferred out-licensing income
- Europe revenue at Rs. 7,920 million, up 6.2% YoY
- Emerging Markets revenue rose 33.2% YoY to Rs. 8,769 million
- EBITDA of Rs. 8,638 million with a margin of 20.3% for Q2 FY27, adjusted PAT at Rs. 4,852 million with 11.4% margin
Disclosures
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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