Glenmark Pharmaceuticals Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹66,018 Cr
- P/E
- 21.16
- ROE
- 23.56%
- PEG
- 0.37
- Price to sales
- 3.70
- Debt to equity
- 0.06
- 52W high / low
- ₹2,515 / ₹1,810
- Sales growth (5Y)
- 9.19%
- EBITDA margin
- 27.04%
- Net profit margin
- 13.43%
- Promoter holding
- 46.65%
- Sales (last year)
- ₹17,737 Cr
Guidance scorecard · Q1 FY27 call
What Glenmark Pharmaceuticals Ltd's management guided
and where it ranks in Pharmaceuticals & Biotechnology
Pharmaceuticals & Biotechnology
RevenueQ1 FY27 call
10–20%- India business expected to grow consistently at 12%-15% annually, driven by strong brands and new product launches like Aumolertinib, Trastuzumab Rezetecan, TEVIMBRA, and BRUKINSA.
- Chronic respiratory segment in India showing over 25% growth; oncology and cardiovascular segments also strong.
- U.S. business growth supported by upcoming respiratory launches in H2 FY27, with Monroe differentiated injectables kicking in next year.
- Europe expected to grow at high single digits this year, moving towards double-digit growth with increasing focus on branded products (targeting ~60% branded revenue in 5 years).
- New oncology specialty portfolio and innovative products (e.g., ISB 2001, IGI pipeline assets 2301 and 2302) to contribute to medium- and long-term growth.
2 more points from Glenmark Pharmaceuticals Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Glenmark Pharmaceuticals Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Glenmark is making strategic investments to strengthen oncology commercial capabilities, especially in emerging markets, to prepare for launches of Aumolertinib, Trastu Reze, and envafolimab.
- These investments support a projected INR500-600 million revenue over 5-6 years from these oncology brands.
- The same infrastructure will be leveraged for launching ISB 2001 in the future, indicating ongoing capital commitment to innovative oncology assets.
- R&D investment remains significant, with a quarterly spend of around INR289 crores and an annual guidance of 7-8% of revenue.
2 more points from Glenmark Pharmaceuticals Ltd's call on capex
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FundraisingQ1 FY27 call
None plannedSee what Glenmark Pharmaceuticals Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
- Glenmark reported broad-based growth across all regions with consolidated revenues up 23.1% year-on-year.
- Strong momentum in India with 18.1% growth in formulation business and significant market share gains.
- Several key launches in oncology, respiratory, and chronic care areas are underway or planned.
- Preparations and product approvals expected in the U.S. respiratory segment in H2 FY27 to drive growth.
2 more points from Glenmark Pharmaceuticals Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Pharmaceuticals & Biotechnology
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Pharmaceuticals & Biotechnology companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹556 Cr | 22.1 | |
| 2 | 40%+ | Up 0–2% | ₹215 Cr | 22.2 | |
| 3 | 40%+ | Flat | ₹16,144 Cr | — | |
| 4 | 40%+ | Flat | ₹6,072 Cr | 48.0 | |
| 5 | 40%+ | Flat | ₹40 Cr | — | |
| 6 | 20–40% | Up 2%+ | ₹50,220 Cr | 43.8 |
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Pro shows every company guiding 40%+ revenue growth →Full Pharmaceuticals & Biotechnology rankingFinancials of Glenmark Pharmaceuticals Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Glenmark Pharmaceuticals Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 3,100 | 3,001 | 3,036 | 3,207 | 2,507 | 3,063 | 3,244 | 3,434 | 3,388 | 3,256 | 3,264 | 6,047 | 3,901 |
| Expenses + | 2,626 | 2,603 | 2,599 | 2,745 | 2,715 | 2,559 | 2,656 | 2,832 | 2,787 | 2,695 | 2,684 | 3,687 | 3,031 |
| Operating Profit | 474 | 398 | 437 | 462 | -209 | 504 | 588 | 602 | 600 | 561 | 581 | 2,360 | 870 |
| OPM % | 15% | 13% | 14% | 14% | -8% | 16% | 18% | 18% | 18% | 17% | 18% | 39% | 22% |
| Other Income + | 209 | -696 | -32 | -205 | 87 | 351 | 31 | 39 | 31 | -361 | -297 | -1,184 | -140 |
| Interest | 97 | 109 | 112 | 121 | 134 | 149 | 40 | 48 | 52 | 67 | 58 | 66 | 41 |
| Depreciation | 152 | 135 | 142 | 141 | 147 | 151 | 118 | 120 | 123 | 125 | 130 | 141 | 154 |
| Profit before tax | 435 | -542 | 151 | -6 | -403 | 555 | 462 | 473 | 456 | 8 | 96 | 967 | 534 |
| Tax % | 33% | -26% | -14% | 997% | -18% | 319% | 26% | 25% | 24% | 45% | 51% | 37% | 24% |
| Net Profit + | 291 | -403 | 173 | -62 | -331 | -1,214 | 340 | 354 | 348 | 4 | 47 | 610 | 403 |
| EPS in Rs | 9.66 | -15.18 | 5.31 | -2.90 | -12.45 | -43.17 | 12.06 | 12.55 | 12.33 | 0.16 | 1.66 | 21.63 | 14.29 |
Financials of Glenmark Pharmaceuticals Ltd
Profit & Loss
Annual income statement trend
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 6,005 | 6,563 | 7,562 | 9,079 | 9,074 | 9,865 | 10,641 | 10,944 | 12,305 | 11,583 | 11,813 | 13,322 | 16,468 |
| Expenses + | 4,914 | 5,348 | 6,125 | 7,043 | 7,457 | 8,280 | 8,942 | 8,860 | 9,978 | 9,948 | 10,618 | 10,970 | 12,097 |
| Operating Profit | 1,091 | 1,214 | 1,437 | 2,037 | 1,617 | 1,586 | 1,699 | 2,084 | 2,327 | 1,635 | 1,195 | 2,351 | 4,371 |
| OPM % | 18% | 18% | 19% | 22% | 18% | 16% | 16% | 19% | 19% | 14% | 10% | 18% | 27% |
| Other Income + | 11 | -180 | 20 | -44 | 89 | 375 | 191 | 95 | -101 | -10 | 336 | -259 | -1,982 |
| Interest | 189 | 190 | 179 | 237 | 286 | 335 | 377 | 353 | 298 | 349 | 516 | 207 | 233 |
| Depreciation | 217 | 300 | 234 | 264 | 302 | 326 | 417 | 444 | 487 | 569 | 582 | 486 | 551 |
| Profit before tax | 697 | 544 | 1,044 | 1,491 | 1,119 | 1,301 | 1,096 | 1,382 | 1,441 | 707 | 434 | 1,399 | 1,605 |
| Tax % | 22% | 61% | 29% | 26% | 28% | 29% | 29% | 30% | 31% | 47% | 430% | 25% | |
| Net Profit + | 546 | 209 | 743 | 1,109 | 804 | 925 | 776 | 970 | 994 | 377 | -1,434 | 1,047 | 1,065 |
| EPS in Rs | 19.99 | 7.72 | 26.33 | 39.29 | 28.49 | 32.78 | 27.50 | 34.38 | 33.37 | 10.53 | -53.22 | 37.11 | 37.74 |
| Dividend Payout % | 0% | 26% | 8% | 5% | 7% | 6% | 9% | 7% | 7% | 24% | -5% | 7% |
Financials of Glenmark Pharmaceuticals Ltd
Balance Sheet
Capital structure and asset base
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 27 | 27 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 |
| Reserves | 2,956 | 1,756 | 3,601 | 4,464 | 5,135 | 5,577 | 6,042 | 7,036 | 9,058 | 9,446 | 7,820 | 8,821 | 9,554 |
| Borrowings + | 3,267 | 3,800 | 3,988 | 4,724 | 4,639 | 4,449 | 4,869 | 4,986 | 3,962 | 4,608 | 1,231 | 2,473 | 1,224 |
| Other Liabilities + | 2,176 | 2,726 | 2,575 | 2,548 | 2,793 | 3,235 | 3,729 | 3,524 | 4,003 | 5,289 | 5,279 | 4,669 | 8,196 |
| Total Liabilities | 8,427 | 8,309 | 10,193 | 11,764 | 12,595 | 13,289 | 14,668 | 15,575 | 17,052 | 19,371 | 14,358 | 15,991 | 19,002 |
| Fixed Assets + | 3,091 | 2,015 | 2,594 | 2,755 | 3,030 | 3,670 | 5,029 | 5,129 | 5,887 | 5,422 | 4,210 | 4,487 | 5,210 |
| CWIP | 5 | 477 | 543 | 708 | 1,122 | 1,399 | 1,222 | 1,382 | 1,010 | 1,190 | 662 | 835 | 695 |
| Investments | 0 | 17 | 17 | 16 | 15 | 30 | 25 | 25 | 50 | 45 | 790 | 56 | 42 |
| Other Assets + | 5,331 | 5,799 | 7,039 | 8,285 | 8,429 | 8,190 | 8,393 | 9,040 | 10,105 | 12,715 | 8,697 | 10,613 | 13,054 |
| Total Assets | 8,427 | 8,309 | 10,193 | 11,764 | 12,595 | 13,289 | 14,668 | 15,575 | 17,052 | 19,371 | 14,358 | 15,991 | 19,002 |
Financials of Glenmark Pharmaceuticals Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 854 | 482 | 345 | 657 | 1,648 | 1,324 | 1,392 | 1,131 | 1,109 | 625 | -265 | -828 |
| Cash from Investing Activity + | -566 | -712 | -950 | -1,001 | -1,003 | -883 | -774 | -662 | -316 | -515 | 4,387 | 58 |
| Cash from Financing Activity + | -98 | 199 | 699 | 543 | -468 | -739 | -445 | -442 | -520 | -77 | -3,906 | 787 |
| Net Cash Flow | 190 | -31 | 93 | 199 | 177 | -297 | 174 | 28 | 272 | 32 | 215 | 17 |
| Free Cash Flow | 481 | -56 | -544 | -76 | 625 | 712 | 616 | 456 | 320 | 75 | -1,162 | -1,575 |
| CFO/OP | 102% | 66% | 57% | 67% | 124% | 111% | 109% | 79% | 72% | 77% | 65% | -6% |
Financials of Glenmark Pharmaceuticals Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 131 | 140 | 120 | 97 | 94 | 81 | 83 | 86 | 92 | 115 | 57 | 92 |
| Inventory Days | 191 | 247 | 249 | 299 | 244 | 244 | 211 | 230 | 208 | 203 | 208 | 254 |
| Days Payable | 279 | 379 | 308 | 243 | 225 | 241 | 210 | 226 | 190 | 172 | 210 | 216 |
| Cash Conversion Cycle | 43 | 8 | 61 | 152 | 113 | 85 | 84 | 90 | 110 | 147 | 56 | 129 |
| Working Capital Days | 62 | 47 | 51 | 125 | 99 | 64 | 54 | 67 | 65 | 141 | -2 | 44 |
| ROCE % | 15% | 16% | 19% | 21% | 15% | 15% | 14% | 15% | 16% | 10% | 12% | 19% |
Guidance history
How Glenmark Pharmaceuticals Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Flat | Planned | None planned | — |
| Q4 FY26 call → | 20–40% | Flat | Planned | — | — |
| Q3 FY26 call → | 10–20% | Up 2%+ | Planned | — | — |
| Q2 FY26 call → | 20–40% | Up 2%+ | Planned | None planned | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
65 out of 100 — Steady
Over the past year its share price has moved roughly in the middle of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +26.9% | 76% |
| Last 6 months | −2.8% | 49% |
| Last 3 months | +6.8% | 75% |
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Glenmark Pharmaceuticals Ltd: 0.4 × 76 + 0.4 × 49 + 0.2 × 75 = 65.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Glenmark Pharmaceuticals Ltd's management said in earlier quarters
- Q4 FY26 earnings call analysis →
- Q1 FY27 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q4 FY25 earnings call analysis →
- Q1 FY26 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
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