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%.
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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.
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.
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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.
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.
The company has filed 21 Ready-to-Use (RTU) infusion bag products and received approvals for 18. Another 11 products are currently under development. The total RTU bag portfolio addresses a US market opportunity of approximately $644 million.
Under a CDMO partnership with a global pharmaceutical company, Gland Pharma expects an annualised revenue potential of approximately $90-100 million once all products are commercialised. Technology transfer activities are planned for completion within two years, with revenues expected to commence from calendar year 2029.
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Gland Pharma also entered into a long-term strategic collaboration with Neuland Laboratories for the manufacturing of sterile active pharmaceutical ingredients (APIs) for microparticle depot products.
The company has also signed an in-licensing agreement with a China-based development company for the development, manufacturing and commercialisation of a niche liposomal product for the US and European markets.
Srinivas Sadu, Executive Chairman of Gland Pharma, stated, “Our strong start to FY27 reflects the successful execution of our CDMO strategy and the resilience of our B2B business model. Growth was driven by recent product launches from our CDMO portfolio and strong customer demand for our diversified product mix.
We continue to strengthen our growth platform through a robust CDMO pipeline including investments in differentiated technologies and capacity expansions, which position us well for sustainable long-term growth.”
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Shares of Gland Pharma Ltd ended at ₹2,663.50, up by ₹63.05, or 2.42%, on the BSE.
