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Glenmark Pharmaceuticals Ltd

Q4 FY25

Glenmark Pharmaceuticals Q4 FY25 earnings call: Revenue & Margins

Q4 FY25 earnings call: what management guided on revenue, margins and order book.

Price₹2,318

Market cap₹63.7K Cr

P/E20.4

Updated23 Aug 2026

Read5 min read

The short version

FY '26 revenue growth guidance is 10% to 12%. - Strong growth expected in ROW (Rest of World) and Europe, with ROW growing 10+% in FY '25 and expected to accelerate. - Significant launches in India planned, including BeiGene launches (tislelizumab and zanubrutinib) in early Q1 FY '26. - U.S. Glenmark Pharmaceuticals is targeting a revenue growth of 10% to 12% for FY '26. - EBITDA margin guidance is set between 19% to 20%, driven by new product launches such as RYALTRIS and two major U.S.

From Glenmark Pharmaceuticals Ltd's Q4 FY25 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

FY '26 revenue growth guidance is 10% to 12%.
Strong growth expected in ROW (Rest of World) and Europe, with ROW growing 10+% in FY '25 and expected to accelerate.
Significant launches in India planned, including BeiGene launches (tislelizumab and zanubrutinib) in early Q1 FY '26.
U.S. launches in H2 FY '26, including Flovent approval expected end of Q2 and nasal spray launch in H2.
RYALTRIS sales expected to cross $100 million in FY '26, up from $80 million in FY '25.
India business growth expected to strengthen after bottoming out in diabetes; other segments like cardio, derm, and respiratory growing well.

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Profitability & Margins

Glenmark Pharmaceuticals is targeting a revenue growth of 10% to 12% for FY '26.
EBITDA margin guidance is set between 19% to 20%, driven by new product launches such as RYALTRIS and two major U.S. launches in H2 FY '26.
Free cash flow generation is expected to be between INR 300 crores to INR 400 crores, post interest and dividend payments.
Margin improvement is supported by operational efficiencies, controlled R&D spend (~6-7% of sales), and resolution of manufacturing plant issues.
Innovation entity IGI’s $70 million annual investment is expected to be self-sustaining post a licensing deal, which will further improve consolidated margins.

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Capital Expenditure Plans

Monroe plant: $150 million investment remains, mainly in injectable lines and utilities. Goal is to get the plant operational with good filings expected (Page 17).
IGI investment: Approximately $70 million annual investment expected over next 3 years, covering clinical trial costs and R&D. After a licensing deal, IGI is expected to be self-sustaining with no further investments needed from Glenmark (Pages 10, 7, 6).
Asset additions in FY '25: Total INR 698 crores added; INR 309 crores in Q4 alone (INR 226 crores tangible, INR 84 crores intangible) (Page 6).

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Fundraising & Capital Structure

Glenmark Pharmaceuticals currently has net debt of around INR 489 crores as of March 2025.
There is no explicit mention of any planned new fundraising through debt or equity in the provided transcript.
The company has indicated that post-closing a licensing deal with IGI (Innovative Genomics Institute), IGI will be self-sustaining for at least the next 3-4 years without requiring additional investment from Glenmark.

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Order Book & Pipeline

The transcript from Glenmark Pharmaceuticals' Q4 FY '25 earnings call does not explicitly provide detailed figures on the current or expected order book or pending orders.
However, there is strong emphasis on upcoming launches and market opportunities:
Multiple filings in the U.S. in Q2 FY'26 including 3 MDI (metered-dose inhaler) filings and 2-3 nasal sprays.
Launch of BeiGene in-licensed assets (tislelizumab and a BTK product) with significant market potential in India ($200 million+ PD-1/PD-L1 market).
Continued growth in India with RYALTRIS expected to cross $100 million in sales for FY '26.

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Glenmark Pharmaceuticals Ltd — Quarterly revenue & net profit

Revenue Net profit

Sep 2024Q2 FY25

Dec 2024Q3 FY25

Mar 2025Q4 FY25

Jun 2025Q1 FY26

Sep 2025Q2 FY26

Dec 2025Q3 FY26

Reported quarterly figures (₹ Cr). Latest (Q3 FY26): revenue ₹3.9K Cr, net profit ₹403 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Glenmark Pharmaceuticals Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Glenmark Pharmaceuticals Ltd Q4 FY25 results?

FY '26 revenue growth guidance is 10% to 12%. - Strong growth expected in ROW (Rest of World) and Europe, with ROW growing 10+% in FY '25 and expected to accelerate. - Significant launches in India planned, including BeiGene launches (tislelizumab and zanubrutinib) in early Q1 FY '26. - U.S. Glenmark Pharmaceuticals is targeting a revenue growth of 10% to 12% for FY '26. - EBITDA margin guidance is set between 19% to 20%, driven by new product launches such as RYALTRIS and two major U.S.

What is Glenmark Pharmaceuticals Ltd share price analysis?

Glenmark Pharmaceuticals Ltd currently shows a neutral. The stock trades at a P/E of 20.4 with a market cap of ₹63,749 Cr. Investors should review the full earnings analysis for detailed insights.

Is Glenmark Pharmaceuticals Ltd planning capital expenditure?

Monroe plant: $150 million investment remains, mainly in injectable lines and utilities.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.