The block size is equivalent to 5% of Gland Pharma’s total equity, said people familiar with the matter.
The deal has a floor price of ₹2,763 per share, representing a 5% discount to the stock’s last close. The transaction also carries a 12-month lock-up on any further sale of shares, sources added.
First Quarter Results
Gland Pharma reported a 47.1% year-on-year increase in net profit to ₹317 crore in Q1 FY27, compared with ₹215 crore in the corresponding quarter last year.
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Profit After Tax margin improved by around 330 basis points year-on-year. The revenue increased 19.6% year-on-year to ₹1,800.2 crore from ₹1,505.6 crore in Q1 FY26.
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 33.1% year-on-year to ₹489.2 crore from ₹367.6 crore. EBITDA margin stood at 27.2%, compared with 24.4% in the year-ago quarter. Adjusted EBITDA margin stood at 28%.
The company’s research and development (R&D) expenditure stood at ₹772 million in Q1 FY27, accounting for 4% of consolidated revenue. The expenditure was mainly focused on complex product development and filings.
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The contract development and manufacturing organisation (CDMO) business contributed 50% of revenues and grew 20% year-on-year in Q1 FY27. The business-to-business (B2B) business also contributed 50% of revenues and grew 19% year-on-year.
Gland Pharma launched four molecules in the US during the quarter, including Multi-Vitamin and Leucovorin calcium. The company filed three abbreviated new drug applications (ANDAs) and received seven approvals in Q1 FY27. This took its cumulative US ANDA filings to 389, comprising 342 approved applications and 47 pending applications.
In its in-house complex pipeline, six products have already been launched, while three more are in line for approval. The company said complex injectables are expected to remain a central pillar of its long-term growth, with more products being added to the pipeline.
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Gland Pharma has 15 products under co-development, comprising seven 505(b)(2) products and eight ANDAs. Commercialisation of these products is anticipated to begin from FY28.
Shares of Gland Pharma Ltd ended at ₹2,929.90, up by ₹64.75, or 2.26%, on the BSE.
