Quarterly revenue grew by 22.3% year-on-year, amounting to ₹1,742.7 crore compared to ₹1,424.9 crore in the same quarter of the previous fiscal year, with full-year revenue for FY26 rising by 14.5%.
EBITDA saw a substantial increase of 47.6% year-on-year, climbing to ₹512.9 crore from ₹347.4 crore. The EBITDA margin improved to 29.4% from 24.4% in the previous year, with an annual margin of 26%. Adjusted EBITDA for the quarter surged by 51% year-on-year, while full-year adjusted EBITDA increased by 33%.
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Adjusted PAT soared 97% year-on-year for the quarter and rose by 50% for FY26, with PAT margin enhancing by 795 basis points in the quarter and 380 basis points for the full year.
R&D expenditures in Q4FY26 totaled ₹50.6 crore and ₹223 crore for FY26, primarily focused on complex product development and regulatory filings. The CDMO segment accounted for 46% of total revenues, with a 36% year-on-year growth in Q4FY26 and 28% for FY26.
In the base business segment, revenue increased by 22% year-on-year for the quarter and 11% for FY26. Adjusted EBITDA rose by 31% in Q4FY26 and 19% for the full year, with EBITDA margin recorded at 41% for the quarter and 38% for the entire year.
Adjusted PAT climbed by 45% for the quarter and 22% for FY26. The base business CDMO segment contributed 25% of overall revenues in Q4FY26, with a year-on-year growth of 65% and 33% growth for FY26. During the quarter, the company introduced five new molecules in the US, including Dalbavancin and Brimonidine, bringing total US launches for FY26 to 31 products.
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In Q4FY26, eight ANDAs were filed and 11 were approved, while FY26 saw a total of 24 filings and 28 approvals. The cumulative US portfolio now comprises 388 ANDA filings, including 337 approvals and 51 still pending. The company also reported advancements in its complex product pipeline, with six products launched and three awaiting approval. It indicated that complex injectables will continue to be a primary growth driver.
In terms of co-development partnerships, 15 products are in development, including seven 505(b)(2) filings and eight ANDAs, with commercialisation anticipated starting FY28. The ready-to-use (RTU) infusion bag portfolio includes 21 filings and 18 approvals, along with 11 additional products under development, targeting a substantial $634 million market opportunity in the US.
For GLP-1 and insulin analogs, the company launched Liraglutide in the US during FY26, with annual production capacity for pen/cartridge reaching 140 million units. Additionally, during FY26, Gland Pharma entered into a contract for a complex nano drug delivery system-based injectable oncology product with a major pharmaceutical partner.
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Srinivas Sadu, Executive Chairman of Gland Pharma, remarked, “Our impressive FY26 results, marked by a consolidated revenue growth of 14.5% and an adjusted EBITDA margin of 26%, reflect the advancements we are achieving across our business operations, including Cenexi.
The base business’s adjusted EBITDA margin of 38% has been bolstered by strong performance in the CDMO segment, alongside new product launches and enhanced profitability throughout our existing portfolio, driven by ongoing cost efficiency measures.”
The board has recommended a final dividend of ₹20 per equity share for FY26, pending shareholder approval. Gland Pharma Ltd’s shares closed at ₹1,861.00, a decrease of ₹34.15, or 1.80%, on the BSE.
