Gland Pharma share price today

Gland Pharma Ltd's share price was ₹3,159.00 at the close on 4 November 2026. It has been rising for 24 weeks. That is 29.6% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹1,627 and ₹3,159, and at that close it was at the high of that range.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Gland Pharma Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 34 weeks in a row.

Over the last 5.9 years the share price moved +50% while the NIFTY 500 moved +102%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: promoters cut their stake by 6 points in one quarter, revenue up on a year earlier for 5 quarters in a row and profit up on a year earlier for 5 quarters in a row.

1. Promoters cut their stake by 6 points in one quarter

   From 51.8% to 45.8% in the September 2026 quarter.

2. Revenue up on a year earlier for 5 quarters in a row

   In the June 2026 quarter revenue was ₹1,800 crore, +19.5% on a year earlier.

   Why: Revenue rose because the company won new contracts, sold more to existing customers, and shipped more products.

   Next results: check whether the constrained vial line gets FDA approval, since management said growth could exceed 15% if it does.

   From the earnings call on 10 Aug 2026.

3. Profit up on a year earlier for 5 quarters in a row

   In the June 2026 quarter profit was ₹317 crore, +47.4% on a year earlier.

   Why: Profit rose faster than revenue because a better mix of products and more contract manufacturing work made each sale more profitable.

   Next results: check whether Cenexi's delayed quality releases come through and whether the Fontenay plant upgrade helps profit.

   From the earnings call on 10 Aug 2026.

For April to June 2026 (the quarter ended 30 June 2026), Gland Pharma reported revenue of ₹1,800 crore, up 19.5% from ₹1,506 crore a year earlier, and a profit of ₹317 crore, up 47.4% from ₹215 crore.

Gland Pharma results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Gland Pharma's management discussed these results on a call held on 10 August 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

Gland Pharma closed at ₹3,159.00 on 4 November 2026, up 69.6% from ₹1,863.00 a year earlier (7 November 2025) and down 14.1% over five years. Its highest weekly close since November 2020 was ₹4,287.20 on 13 August 2021.

Gland Pharma share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

318 weekly closes from 27 November 2020 to 4 November 2026.

4 Nov 2026: Gland Pharma closed at ₹3,159.00, up 2.0% on the week and up 9.9% on the month. 11 Aug 2026: ex-date for a dividend of ₹20 a share.

Earlier

• 10 Aug 2026: Gland Pharma held its results call for April to June 2026. Management guided: FY27 revenue growth 15% on a constant-currency basis; could exceed 15% if the constrained vial line gains FDA approval.
• Results for April to June 2026: Revenue up 19.5% and profit up 47.4% on a year earlier.

Gland Pharma paid ₹20 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.63% at the ₹3,159.00 close on 4 November 2026. The last was a dividend of ₹20 a share, ex-date 11 August 2026.

Gland Pharma dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.

Yes. Gland Pharma Ltd paid out 32% of its profit as dividends in FY26, and it paid a dividend in 3 of its last 7 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 10 August 2026, Gland Pharma's management guided: FY27 revenue growth 15% on a constant-currency basis; could exceed 15% if the constrained vial line gains FDA approval.

“In the near term, we are working toward 30%, and in the medium to long term, we ultimately want to be a profitable company with 35% EBITDA. Hopefully, in the next 3-4 years, we might reach that once we get all these CDMO contracts on track.”Srinivas Sadu, on the call for April to June 2026

What management guided

• Revenue growth around 20% over the next 4 years; clearer view expected after other contracts and initiatives develop.
• Cenexi FY27 revenue near EUR 200 million and high-single-digit operating margin.
• Consolidated operating margin around 30% near term and 35% medium-to-long term, potentially within 3-4 years.
• Sterile-injectable agreement: 55 SKUs across 3 sites; transfers within 2 years, launches from CY2029, full portfolio around CY2030 and USD 90-100 million annualized at full commercialization.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 10 August 2026.

One change in Gland Pharma's own numbers looks lasting: a bigger order book. Also showing up, but too early to call lasting: costs spread over more sales and new products.

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Checked against results and calls up to April to June 2026, 10 October 2026.

The thesis breaks if FY27 revenue growth falls below the 15% constant-currency framework while Cenexi profitability, vial-line approval and contract conversion fail to offset inventory-led cash absorption.

Each change stops working if

• CDMO mix and contract conversion: Customer filings, technology transfers or site approvals delay commercial launches beyond management’s revised timetable.
• Cenexi utilization and European manufacturing: Quality releases remain delayed or modernization disrupts output without a compensating utilization gain.
• US launch basket and B2B demand: Launch volumes fail to persist or generic competition offsets contracted demand.
• Vial-line approval and capacity build: The approval is delayed or incremental capacity is underutilised after commissioning.

The main risks

• : The NGDS commercialization date has moved later than the prior framework. ✓ fact
• : Inventory-led working-capital absorption can dilute free cash flow during the capacity program. ✓ fact
• : The CEO search remains unresolved during CDMO execution and capacity expansion. ✓ fact
• : Approval, customer-filing and technology-transfer dependencies can defer the larger pipeline opportunities. ✓ fact

Our read after the April to June 2026 results, written 22 August 2026.

When Gland Pharma reports July to September 2026, these are the 6 checks that show whether the story is still on course. First: CDMO revenue grows at least 15% year on year in the Sep 2026 quarter and technology transfers for the 55-product agreement start on schedule.

Gland Pharma is on 5 of our India lists: Multibagger study list, Momentum stocks, 52 week high & low, Small & mid cap stocks and Pharma stocks.

Gland Pharma Ltd earned ₹317 Cr of net profit in the Jun 2026 quarter, +47.4% on the same quarter a year earlier. That is the 5th quarter in a row of profit growth. Full-year FY26 profit was ₹1,027 Cr. Over 6 years profit has grown 4.8% a year on average. That is 17.6% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹215 Cr.

For the full year, FY26 profit was ₹1,027 Cr (+46.9% on the year before).

Why profit moved: revenue changed +19.5% on a year earlier and the margin moved +3.0 percentage points. Most of the change came from keeping more of each sale.

On average over the last four quarters, profit changed +45.8% and revenue +17.5%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

FY26-Q4. revenue ₹1,743 Cr and profit ₹367 Cr as reported.

FY27-Q1. revenue ₹1,800 Cr and profit ₹317 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

Gland Pharma Ltd reported ₹1,800 Cr of revenue in the Jun 2026 quarter, +19.5% on the same quarter a year earlier. That is the 5th quarter in a row with growth on the year before. Over 6 years it has grown 16.0% a year on average. The last full year, FY26, came in at ₹6,431 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹6,725 Cr.

FY26 revenue was ₹6,431 Cr, +14.5% on the year before.

Recent pace: the last four quarters grew +17.5% on average, against 16.0% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +17.5%, against +7.2% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +46.4%, against +25.0% a year (accelerating).

FY26-Q4. revenue ₹1,743 Cr and profit ₹367 Cr as reported.

FY27-Q1. revenue ₹1,800 Cr and profit ₹317 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

Gland Pharma Ltd's operating margin was 27.0% in the Jun 2026 quarter, 3.0 percentage points higher than the same quarter a year ago. Across 7 years it has been between 23.0% and 38.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why this happened. Management reported CDMO revenue of Rs 8,915 million, up 20% YoY and 50% of group revenue. The sterile-injectable agreement spans 55 SKUs across three sites, with launches from CY2029. Higher-complexity manufacturing improves economics only when transfers convert into commercial launches.

Why the margin moved: operating margin changed +2.8 percentage points on the year while gross margin changed −0.1 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

FY26-Q4. revenue ₹1,743 Cr and profit ₹367 Cr as reported.

FY27-Q1. revenue ₹1,800 Cr and profit ₹317 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

Over the last 3 years, 118% of Gland Pharma Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹1,031 Cr of operating cash against ₹1,027 Cr of profit. After ₹960 Cr of spending on assets, ₹71.0 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 118% of profit came in as cash: the cash cycle got 31 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner.

What to look at next: the bigger use of cash is spending on new assets, at 3.7× depreciation over three years. The next section checks what that spending is building.

Gland Pharma Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 255 days in FY26, down from 286 days in FY21. It spent ₹4,233 Cr on assets over the last 3 years. Customers take 107 days to pay, and stock sits for 284 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹6,431 Cr, each day of that cycle ties up about ₹17.6 Cr, so roughly ₹4,493 Cr is tied up in the business at any time.

FY26: customers took 107 days to pay and stock sat for 284 days, about 9.3 months of sales sitting as stock, for a full cycle of 255 days, shorter than FY21's 286.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 284 days. Customers pay about 107 days after that. Suppliers are paid at 136 days. Together that makes the 255-day cycle.

Spending on assets: ₹4,233 Cr over the last 3 years, against ₹1,147 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹342 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Gland Pharma Ltd's P/E is 45.5×, near the high end of its own history: higher than 83% of past readings. Its usual P/E (the middle reading) is 39.0×, over 5.4 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹68.49.

Why the multiple is where it is: over the past year earnings per share moved +47.1% while the price moved +69.6%. The price did better than earnings, which pushed the multiple up within its own range.

Where the price move came from: over 5 years the price moved −3.0% a year; about +0.4% a year came from earnings growth and about −3.4 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple.

In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple.

Gland Pharma Ltd's business is giving mixed signals. There is no clear direction across the growth lines, with ROCE rising at 15.7%; each line tells part of the story. This is based on 12 quarters of 4 measures.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: when the lines disagree, each line above matters more than any single label.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Gland Pharma Ltd's story is not scored yet against the checks our research set on 22 August 2026. Where it sits in its own cycle: EARLY EXPANSION.

NOT YET CHECKED

Our read, 22 August 2026. The CDMO and complex-injectable shift is converting into reported growth, but delayed project timing, a CEO search and expanding working capital keep the stock a monitored execution story.

From the price. Price stage 2, week 24, above its 200-day line, relative strength rising.

From the research. The CDMO and complex-injectable shift is converting into reported growth, but delayed project timing, a CEO search and expanding working capital keep the stock a monitored execution story.

What is proven. The CDMO and complex-injectable shift is converting into reported growth, but delayed project timing, a CEO search and expanding working capital keep the stock a monitored execution story.

What is not proven yet. The thesis breaks if FY27 revenue growth falls below the 15% constant-currency framework while Cenexi profitability, vial-line approval and contract conversion fail to offset inventory-led cash absorption.

What would change our mind. The thesis breaks if FY27 revenue growth falls below the 15% constant-currency framework while Cenexi profitability, vial-line approval and contract conversion fail to offset inventory-led cash absorption.

The test written in advance. The thesis breaks if FY27 revenue growth falls below the 15% constant-currency framework while Cenexi profitability, vial-line approval and contract conversion fail to offset inventory-led cash absorption. Measured by: the thesis as written as stated by the next result.

What the company does. Reported revenue and profit are ahead of the comparable quarter, while the latest margin eased from the preceding quarter. Management has raised its medium-term growth framing and is building capacity around CDMO, sterile injectables and European manufacturing.

The key numbers to watch, and the level that would change the picture

Everything further down this page is evidence for or against these.

What the surface reading misses. The surface reading is: Q1 FY27 revenue and PAT were higher than the comparable quarter. The research reads it further: Revenue growth was accompanied by PAT growth, although OPM eased sequentially from 29% to 27%, so the quarter does not establish uninterrupted margin expansion.

What the surface reading misses. The surface reading is: The calculated YoY comparison shows revenue and PAT growth. The research reads it further: PAT growth exceeded revenue growth, while OPM improved from 24% in Jun 2025 to 27% in Jun 2026; sequential OPM and PAT were below Mar 2026.

• 1 · Operating leveragebuilding
• 2 · Value-added mixbuilding
• 3 · Management changebuilding
• 4 · Paying down debtquiet
• 5 · Regulatory approvalquiet
• 6 · Order-book winsquiet
• 7 · Consolidationquiet
• 8 · Demerger or value unlockquiet
• 9 · Buybackquiet
• 10 · New geographiesquiet
• 11 · More business from existing customersquiet
• 12 · New product launchquiet
• 13 · Mandatory normsquiet
• 14 · A bigger market to servequiet
• 15 · Market-share gainsquiet
• 16 · Asset qualityquiet

Lever 1 · Operating leverage: building. CDMO and B2B activity support the current growth base, with sterile-injectable transfers creating a later revenue runway. What proves it keeps working: CDMO mix and contract conversion. It stops working if Customer filings, technology transfers or site approvals delay commercial launches beyond management’s revised timetable.

Lever 2 · Value-added mix: building. Cenexi profitability and site modernization can lift contribution if release delays and utilization improve as planned. What proves it keeps working: Cenexi utilization and European manufacturing. It stops working if Quality releases remain delayed or modernization disrupts output without a compensating utilization gain.

Lever 3 · Management change: building. US revenue growth was led by recent launches, existing-product volumes and contracted demand. What proves it keeps working: US launch basket and B2B demand. It stops working if Launch volumes fail to persist or generic competition offsets contracted demand.

Sources: our stock research file (22 August 2026) · quarterly results through Jun 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.

The whole page in one table. Each row links to its section.

What Gland Pharma Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.

CDMO Project Commercialization Timeline Moved to 2029 · 10 August 2026. In Jan 2026, management said the new CDMO project was expected to commercialize in the third or fourth quarter of FY28, or by the end of 2028. In Aug 2026, management stated that the NGDS project would be in 2028 but commercialization would occur in 2029, indicating a material timeline shift without an explanation for the delay.

Gland CEO Vacancy Without Explanation · 15 May 2026. Mr. Shyamakant Giri served as CEO and delivered detailed operational commentary in both the Nov 2025 and Jan 2026 earnings calls. In the May 2026 call, no Gland CEO is named in the management roster and, when asked, management disclosed they are actively searching for a replacement with a CDMO and biotech background, offering no explanation for when or why the position became vacant. This is a material governance concern with direct implications for execution credibility and shareholder confidence.

Biologics CDMO Expansion Plan Quietly Abandoned · 15 May 2026. Both the Nov 2025 and Jan 2026 calls presented the expansion of biologics CDMO capacity from 8 KL to 23 KL as a stated strategic priority, with Jan 2026 explicitly noting a Greenfield build was planned at Shamirpet with active customer discussions underway.

FY27 Consolidated Growth Guidance Below Prior Mid-Teens Commitment · 15 May 2026. The Nov 2025 call explicitly stated confidence in achieving mid-teens consolidated revenue growth in coming couple of years, a statement that directly covers FY27. The May 2026 call now guides FY27 consolidated growth at 12-13% on a constant currency basis, which is materially below the approximately 15% mid-teens level previously communicated, and no clear explanation has been provided in the latest call for this downward revision.

Every quote above is taken word for word from the company’s own earnings calls.

Cenexi became profitable after softer break-even wording; launch and project dates moved. Capacity spending has named uses and cash backing, but promises about distant projects deserve a mixed grade; the record does not show a huge unowned failure.

Regulatory and governance record

The company reports that the director-approval fine was paid and processes were strengthened.

Checked 14 October 2026.

Gland Pharma Ltd earned a ROCE of 15% in FY26. That is up from a low of 12% in FY25. Its return on capital used (ROIC) is 0.7 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 16.0% net margin and 0.52× asset turnover (sales divided by assets).

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

Why the return is what it is (FY26): a 16.0% net margin × 0.52× asset turnover × 1.20× leverage (assets divided by equity) ≈ 10.0% on equity. The margin does most of the work; borrowing plays a small part, so this return is earned, not borrowed.

The key test, return on capital used minus the cost of capital: 12.7% − 12.0% = +0.7 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Positive but thin: it creates value with little room for error.

Gland Pharma Ltd has total debt of ₹284 Cr against shareholder equity of ₹10,358 Cr as of Jun 2026, so its debt is 0.03× its equity, which is very little. Year by year, that ratio went from 0.00 in FY22 to 0.03 in FY26. So the returns on this page come from the business, not from borrowed money.

Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.

Promoters cut their stake in Gland Pharma Ltd by 6.1 percentage points over 8 quarters, the biggest change among its owners. Promoters now own 45.8% of the company. Foreign institutions moved +5.9 points over the same period, to 10.4%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Why this happened. Management reported US revenue of Rs 9,810 million, up 32% YoY, driven by recent CDMO launches and existing-product volumes. Dalbavancin faces competition but has contracted demand. Continued volume conversion, rather than a single launch print, is required.

Over the last two years: Promoters: −6.1 points over 8 quarters, to 45.8%; Foreign institutions: +5.9 points over 8 quarters, to 10.4%; Domestic institutions: −2.2 points over 8 quarters, to 33.2%.

Why the owners changed: foreign institutions moved +5.9 points and domestic institutions −2.2 points over 8 quarters, while promoters moved −6.1 points. One group of institutions took over shares from the other; it is not a change of mind by the people running the company.

For Gland Pharma Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

69.9 out of 100, rank 4 of 24 in Pharma - API & CRAMS, with 96% of the evidence available.

Gland Pharma Ltd scores 69.9 out of 100 against the 24 companies it is compared with in Pharma - API & CRAMS, ranking 4. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.

The four parts add up to the total exactly: 25 + 16 + 12.1 + 16.8 = 69.9. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.

Gland Pharma ranks 4 of 24 Pharma - API & CRAMS companies on the 4-Factor Sector Score, with 69.9 out of 100.