By: IPP Bureau
Last updated : January 30, 2026 12:24 pm
The base Gland business posted ?11,790 million in revenue, up 16% YoY
Gland Pharma, the Hyderabad-based generic injectable specialist, delivered strong financial performance for Q3 FY26, driven by double-digit growth across its core markets and strategic business execution.
“Our strong Q3 FY26 performance, driven by robust year-on-year revenue growth of 22% and healthy adj. EBITDA margin of 26%, reflects the disciplined execution across our businesses. We remain confident in sustaining this momentum as new product launches, CDMO contract ramp-ups, and operational efficiencies continue to strengthen our trajectory,” said Srinivas Sadu, Executive Chairman of Gland Pharma.
CEO Shyamakant Giri added, “Performance of Q3 FY26 was a clear reflection of consistent execution, with double-digit growth across key markets, of US and Europe, and steady improvement in margins. Cenexi’s breakeven and strong revenue traction in the base business were key contributors to our consolidated performance this quarter.”
Consolidated Financial Highlights (Q3 FY26 vs Q3 FY25): Revenue: ₹16,954 million, up 22% YoY; Adj. EBITDA: ₹4,490 million, up 25%, margin steady at 26%; Adj. PBT: ₹3,865 million, up 29%; Adj. PAT: ₹2,797 million, up 37%, margin increased to 16%; R&D spend: ₹650 million (5.4% of revenue) vs ₹437 million (4.3% of revenue YoY).
Market Performance:USA: ₹8,685 million, up 19%; Europe: ₹4,071 million, up 54%; India: ₹744 million, up 32%; Rest of the World: ₹3,000 million, up 4%
The base Gland business posted ₹11,790 million in revenue, up 16% YoY, with an adj. PAT of ₹3,274 million, reflecting strong operational performance and margin expansion.
Business Growth Drivers:
1. Product launches: Nine molecules introduced in the US, including Argatroban, Acetazolamide, and Doxycycline; two new launches in other regulated markets.
2. Pipeline & Approvals: Nine ANDAs filed and four approved in the US, totaling 384 filings (331 approved, 53 pending). Three new filings in other regulated markets, totaling 134 filings (89 approved, 45 pending).
3. Complex injectables & co-development: Six products launched in-house, three more awaiting approval; 15 products in co-development with commercialization expected by FY28.
4. Ready-to-Use (RTU) bags: 16 approved products out of 20 filed, with 13 more under development.
5. Drug-Device Combinations: Launched first partnered GLP-1 (Liraglutide) in the US, with pen/cartridge capacity set to expand from 40 million to 140 million units.
6. New CMO contract: Signed a complex Nano Drug Delivery System-based injectable oncology contract, providing mid-to-long-term revenue visibility.
Gland Pharma’s diversified growth strategy across the US, Europe, and regulated markets, combined with strong operational execution and R&D investments, underpins its bullish outlook for FY26.