Gland Pharma logo

Gland Pharma

GLAND NSE

Key Fundamentals

MidcapPharmaceuticalsHealthcare
Market Cap
₹47,639 Cr
Volatility
Moderate
P/E Ratio
42.67
EBITDA
₹1,946 Cr
Return on Equity
9.92%
Debt to Equity
0.03
Book Value
₹627.88
EPS
₹43.83
52W High
₹3,042
52W Low
₹1,573.6

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 39.1%

Weaknesses

3
  • Stock is trading at 4.65 times its book value
  • Company has a low return on equity of 9.29% over last 3 years.
  • Promoter holding has decreased over last 3 years: -6.09%

Growth Rate

Revenue Growth
15.73% lower than 3Y
Net Income Growth
47.07% higher than 3Y
Cash Flow Change
12.75% higher than 3Y
ROE
30.01% higher than 3Y
ROCE
20.1% higher than 3Y
EBITDA Margin (Avg.)
13.41% higher than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk medium

Gland Pharma Ltd, with a market cap of ₹47,639 Cr, is a near debt-free injectable-focused pharmaceutical company trading at a P/E of 43.1x and P/B of 4.7x. TTM sales growth has accelerated to 18% and profit growth to 49%, though the 3-year ROE remains modest at 9% and the 5-year profit CAGR stands at just 1%.

Bull Case 8
  • Almost debt-free balance sheet provides financial flexibility and lowers risk during industry downturns
  • TTM revenue growth of 18% signals a meaningful acceleration over the 5-year compounded sales CAGR of 13%
  • TTM profit growth of 49% indicates a sharp earnings recovery and improving operating leverage
  • Healthy dividend payout ratio of 39.1% demonstrates commitment to returning capital to shareholders despite being a growth-stage pharma company
  • 3-year compounded sales CAGR of 21% reflects sustained top-line momentum over a multi-year period
  • 1-year stock CAGR of 50% reflects strong market re-rating driven by improving fundamentals
  • Last year ROE improved to 11%, up from the 3-year average of 9%, suggesting a trend of improving capital efficiency
  • Dividend yield of 0.68% offers a modest income component uncommon among high-growth pharma peers
Bear Case 8
  • P/E of 43.1x is elevated for a company with a 5-year compounded profit CAGR of only 1%, implying the stock prices in significant future growth
  • 3-year ROE of just 9.29% is low for a pharma company and suggests sub-optimal capital allocation relative to equity base
  • Trading at 4.69x book value is demanding given the modest return on equity, offering limited margin of safety
  • Promoter holding has decreased by 6.09% over the last 3 years, which may signal reduced insider confidence
  • 5-year stock CAGR of -5% indicates the stock has destroyed value for longer-term holders despite recent rally
  • 5-year compounded profit CAGR of just 1% highlights that the recent 49% TTM profit growth may not yet represent a durable trend
  • 5-year ROE of 11% has not materially expanded over the decade, suggesting structural limits on profitability improvement
  • 3-year compounded profit CAGR of 8% significantly lags the 3-year sales CAGR of 21%, pointing to historical margin compression

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Headwinds 2
  • Fosun sells 10.5% in two tranches Sep 3

    Fosun Pharma sold a combined ~10.55% stake across September 4 block and open-market deals, reducing promoter holding from 51.77% to 45.76%. This is the second major divestment after a 6% sale for ₹1,754 crore in June 2024, bringing Fosun below 50% for the first time since its 2017 acquisition.

  • Institutional dissent on director picks Aug 26

    Reappointment of Fosun-linked directors Wenjie Zhang and Wei Huang passed with only ~81% support, with ~45% of public institutional shareholders voting against.

Positives 4
  • FY26 PAT surges 47% Aug 25

    Gland Pharma reported FY26 net profit of ₹10,273 million, up 47% YoY, on 14% revenue growth with significant EBITDA margin expansion and a strong turnaround at European subsidiary Cenexi.

  • Q1 FY27 revenue up 19.5% Sep 3

    Q1 FY27 consolidated revenue rose 19.5% YoY to ₹1,800 crore with net profit up 47% to ₹317 crore. EBITDA grew 37% YoY with adjusted margin at 28%, and both CDMO and B2B segments contributed 50% each, growing 20% and 19% respectively.

  • Zero USFDA observations at VSEZ Sep 2

    Gland Pharma's VSEZ sterile oncology and API facility in Visakhapatnam received zero Form 483 observations after a USFDA GMP inspection from August 24 to September 1, 2026.

  • Strong institutional buying on dip Sep 3

    Kotak MF (₹789 crore), Axis MF (₹384 crore), and ICICI Prudential (₹294 crore) were among top buyers in the Fosun block deal. Shares closed ~1% higher at ₹2,932.40 despite the large supply.

Neutral 3
  • ₹1.40 lakh fine for LODR breach Sep 13

    Gland Pharma paid ₹1.40 lakh total penalty to NSE and BSE for a 34-day technical breach of SEBI LODR Regulation 17(1A), settled suo motu before final notice.

  • Scheduled investor meetings Sep 2026 Sep 10

    Multiple one-on-one and group meetings planned with East Bridge Capital, IIFL Capital, Antique Broking, Carnelian Capital, First Ray Capital, and group sessions arranged by Nomura, ICICI Securities, and JP Morgan through September 2026.

  • AGM approves FY26 financials Aug 26

    Shareholders approved FY26 annual accounts and dividend at the AGM, with all resolutions passing.

TL;DR: Gland Pharma is delivering strong operational momentum with 47% PAT growth in FY26, robust Q1 FY27 numbers across both CDMO and B2B segments, and a clean USFDA inspection reinforcing manufacturing credibility. The key overhang is Fosun Pharma's accelerating stake reduction — now below 50% — which creates near-term supply pressure, though quality institutional buyers are absorbing shares. The earnings trend is clearly improving and regulatory standing is solid, but promoter overhang and boardroom dissent warrant monitoring over the next few quarters.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,209
1,373
1,545
1,537
1,402
1,406
1,384
1,425
1,506
1,487
1,695
1,743
1,800
Expenses
915
1,049
1,189
1,179
1,137
1,109
1,024
1,077
1,138
1,173
1,260
1,230
1,311
Operating Profit
294
324
356
359
264
297
360
348
368
314
435
513
489
OPM %
24%
24%
23%
23%
19%
21%
26%
24%
24%
21%
26%
29%
27%
Other Income
38
53
37
42
51
60
58
44
58
84
39
111
61
Interest
5
6
5
10
6
6
23
7
12
8
4
10
4
Depreciation
65
81
105
93
92
94
96
96
101
106
108
109
111
PBT
261
290
283
298
218
257
299
288
313
284
362
506
435
Tax %
26%
33%
32%
35%
34%
36%
32%
35%
31%
35%
28%
28%
27%
Net Profit
194
194
192
192
144
164
205
187
215
184
261
367
317
EPS in Rs
11.79
11.78
11.65
11.68
8.73
9.93
12.42
11.32
13.08
11.15
15.87
22.26
19.21
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
2,633
3,463
4,401
3,625
5,665
5,616
6,431
6,725
Expenses
1,678
2,161
2,890
2,600
4,332
4,348
4,801
4,974
Operating Profit
955
1,302
1,510
1,025
1,333
1,269
1,630
1,751
OPM %
36%
38%
34%
28%
24%
23%
25%
26%
Other Income
139
135
224
184
170
214
292
296
Interest
7
3
5
7
26
42
33
26
Depreciation
95
99
110
147
345
378
424
434
PBT
993
1,335
1,619
1,055
1,133
1,063
1,465
1,587
Tax %
22%
25%
25%
26%
32%
34%
30%
—
Net Profit
773
997
1,212
781
772
699
1,027
1,129
EPS in Rs
49.88
60.94
73.75
47.42
46.9
42.4
62.35
68.49
Div. Payout %
0%
0%
0%
0%
43%
42%
32%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
16
16
16
16
16
16
16
Reserves
3,631
5,887
7,141
7,942
8,707
9,134
10,341
Borrowings
5
5
5
4
372
314
284
Other Liabilities
435
588
671
814
1,515
1,708
1,807
Total Liabilities
4,086
6,496
7,834
8,778
10,611
11,173
12,449
Fixed Assets
968
954
1,502
1,571
3,947
4,147
4,492
CWIP
188
338
191
177
238
151
342
Investments
0
0
155
0
0
0
0
Other Assets
2,929
5,204
5,986
7,030
6,426
6,875
7,614
Total Assets
4,086
6,496
7,834
8,778
10,611
11,173
12,449
Figures in ₹ Crores

Cash Flow

Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
701
605
791
364
997
915
1,031
Investing
-761
-1,520
-999
1,211
-1,749
1,718
188
Financing
-7
1,238
35
15
-799
-433
-417
Net Cash Flow
-67
323
-174
1,590
-1,552
2,199
803
Free Cash Flow
530
377
269
141
599
521
538
CFO/OP
99
70
79
66
98
100
91
Figures in ₹ Crores

Ratios

Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
83
71
99
88
100
99
107
Inventory Days
250
312
205
421
278
294
284
Days Payable
82
97
80
127
129
143
136
Cash Conversion Cycle
251
286
225
382
250
250
255
Working Capital Days
161
169
168
242
155
173
145
ROCE %
—
28%
25%
15%
14%
12%
15%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Public3.50%Promot.51.77%Others5.55%FIIs8.74%DIIs30.44%As ofJun 2026

Documents

Frequently Asked Questions about Gland Pharma

What does Gland Pharma Ltd do?
Established in Hyderabad, India in 1978, Gland Pharma has grown over the years from a contract manufacturer of small volume liquid parenteral products, to become one of the largest and fastest growing injectable-focused companies, with a global footprint across 60 countries, including the United ...
Where is Gland Pharma Ltd (GLAND) listed?
Gland Pharma Ltd trades as GLAND on the NSE and under code 543245 on the BSE.
Which sector does Gland Pharma Ltd belong to?
Gland Pharma Ltd is classified under the Healthcare sector, in the Pharmaceuticals industry.
What is the market capitalisation of Gland Pharma Ltd?
Gland Pharma Ltd has a market capitalisation of ₹47,639 Cr, which places it in the Large Cap band.
What is the PE ratio of Gland Pharma Ltd?
Gland Pharma Ltd trades at a PE ratio of 42.67, on earnings per share of ₹43.83, against a book value of ₹627.88 per share.
What is the 52-week high and low of Gland Pharma Ltd?
Over the last 52 weeks Gland Pharma Ltd has traded between ₹1,573.6 and ₹3,042.
Does Gland Pharma Ltd pay dividends?
Gland Pharma Ltd has a dividend yield of 0.68%.
What is the Return on Equity (ROE) of Gland Pharma Ltd?
Gland Pharma Ltd reported a return on equity of 9.92%. Its debt-to-equity ratio is 0.03.

Company Information

Established in Hyderabad, India in 1978, Gland Pharma has grown over the years from a contract manufacturer of small volume liquid parenteral products, to become one of the largest and fastest growing injectable-focused companies, with a global footprint across 60 countries, including the United States, Europe, Canada, Australia, India and other markets. We operate primarily under a business to business (B2B) model and have an excellent track record in the development, manufacturing and marketing of complex injectables. This presence across the value chain has helped us witness exponential growth. We are promoted by Shanghai Fosun Pharma, a global pharmaceutical major.

Website glandpharma.com
CEO Mr. Srinivas Sadu
Employees 4,351
Listed 2020-11-20
Face Value ₹ 1
Issued Size 16,47,56,423

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