# Gland Pharma share price today (Gland Pharma Ltd, NSE: GLAND)

> Gland Pharma share price today: ₹3,158.90 at the NSE close on 3 November 2026, up 63.8% in a year. Gland Pharma (NSE: GLAND) is worth ₹52,124 crore, trades at a P/E of 45.5 and has closed between ₹1,626.60 and ₹3,158.90 over the past 52 weeks. > Gland Pharma Ltd's results are improving, and its P/E is near the top of its own history, higher than 83% of past readings. GLAND · Pharma - API & CRAMS · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/gland-pharma-ltd

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## Key numbers

- Business trend: Mixed, from the last 12 quarters
- Price: ₹3,158.90 (+63.8% in a year)
- P/E: 45.5× (higher than 83% of the last 5.4 years)
- Revenue (Jun 2026): ₹1,800 Cr (+19.5% on a year ago)
- Profit (Jun 2026): ₹317 Cr (+47.4% on a year ago)
- Operating margin: 27.0% (+3.0 points on a year ago)
- ROCE: 15%, FY26
- ROIC: 12.7%, against a 12.0% cost of capital: +0.7 points

The main question: results are strong, and the P/E is higher than 83% of its own history. ## What is the Gland Pharma share price today? Gland Pharma Ltd's share price was ₹3,158.90 at the close on 3 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. 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 +49% 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. ## What changed at Gland Pharma this quarter? 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. ## What are Gland Pharma's latest quarterly results? 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

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹1,800 crore | ₹1,506 crore | +19.5% |
| Profit | ₹317 crore | ₹215 crore | +47.4% |
| Earnings per share | ₹19.21 | ₹13.08 | +46.9% |
| Operating margin | 27.0% | 24.0% | +3.0 points |

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.)

## What is the Gland Pharma share price history? Gland Pharma closed at ₹3,158.90 on 3 November 2026, up 63.8% from ₹1,928.90 a year earlier (31 October 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

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹2,826.80 | +11.7% |
| 1 month ago · 1 Oct 2026 | ₹2,874.40 | +9.9% |
| 6 months ago · 30 Apr 2026 | ₹1,750.80 | +80.4% |
| 1 year ago · 31 Oct 2025 | ₹1,928.90 | +63.8% |
| 3 years ago · 3 Nov 2023 | ₹1,510.50 | +109.1% |
| 5 years ago · 4 Nov 2021 | ₹3,676.05 | −14.1% |
| Earliest weekly close in our records · 27 Nov 2020 | ₹2,113.00 | +49.5% |
| Highest weekly close since November 2020 · 13 Aug 2021 | ₹4,287.20 | −26.3% |
| Lowest weekly close since November 2020 · 2 Jun 2023 | ₹922.25 | +242.5% |
| 52-week high (weekly close) · 3 Nov 2026 | ₹3,158.90 | 0.0% |
| 52-week low (weekly close) · 13 Mar 2026 | ₹1,626.60 | +94.2% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (318 weekly closes from 27 November 2020 to 3 November 2026.)

## What is the latest news on Gland Pharma? 3 Nov 2026: Gland Pharma closed at ₹3,158.90, up 11.7% 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. ## What dividend does Gland Pharma pay? Gland Pharma paid ₹20 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.63% at the ₹3,158.90 close on 3 November 2026. The last was a dividend of ₹20 a share, ex-date 11 August 2026. ### Gland Pharma dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 11 Aug 2026 | ₹20 | Dividend |
| 14 Aug 2025 | ₹18 | Dividend |
| 16 Aug 2024 | ₹20 | Dividend |

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. 2 of 5 Of the last 5 financial years, years with an NSE dividend record

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 4 November 2026.)

## What did Gland Pharma management say on the latest results call? 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](https://files.tijorifinance.com/insight/india/41459/Conference Call/CC-Aug26.pdf). (From the call for April to June 2026, 10 August 2026.)

## What is the future of Gland Pharma? What is changing in the business? 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. A bigger order book looks lasting

Contracts to manufacture drugs for other companies (CDMO) are being won and turned into sales: CDMO revenue grew 28% in FY26 to 46% of group revenue, and 20% in the June quarter to ₹8,915 million (about ₹892 crore, 50% of revenue). New signed work includes a USD 25-30 million a year contract, a 55-product sterile injectable agreement worth USD 90-100 million a year at full run, and 8 GLP-1 contracts. Why it may last: Manufacturing contracts tied to a site through technology transfer and regulatory filings are hard for a customer to move, and signed work already runs to 2029-2030. What could be flattering it: Headline contracts that are years away, low-margin work, or customers paying slowly. Next check: 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. Quarter by quarter, 4 quarters

July to September 2025

Complex CDMO programmes added 7 points of US growth; Cenexi (the French unit) won four new projects. Revenue +6% (₹1,487 crore versus ₹1,406 crore). ✓ fact

From our notes of the call for July to September 2025: CDMO revenue contribution reached 17% growth in US with 7% of overall US growth attributed to complex CDMO programs. October to December 2025

A major new contract signed (management first called it ₹25-30 million, later USD 25-30 million a year) from late 2028; revenue +22% to ₹1,695 crore, which management tied to CDMO traction. ✓ fact

From our notes of the call for October to December 2025: Major new contract secured: ₹25-30 million annual revenue starting Q3/Q4 2028. January to March 2026

Base-business CDMO grew 33% in FY26; CDMO 46% of group. Q4 margin jump credited partly to CDMO launches. Revenue ₹1,743 crore (+22%), operating profit ₹513 crore. ✓ fact

From our notes of the call for January to March 2026: Base business CDMO grew 33.0% in FY26 representing 23.0% of base business revenue. April to June 2026

CDMO revenue +20% to 50% of group; new 55-product sterile injectable agreement (launches from 2029). But the big USD 25-30 million project moved from late FY28 to 2029. Revenue ₹1,800 crore, operating profit ₹489 crore (+33%). ✓ fact

From our notes of the call for April to June 2026: CDMO revenue ₹8,915 million, up 20% on a year earlier, representing 50% of group revenue. Costs spread over more sales too early to call

Sales grew about 20% a year in the last three quarters while gross margin stayed near 62-63%, so the gain in operating margin (profit from the business before interest and tax, as a share of sales) came from spreading fixed plant and staff costs over more output. Operating profit rose from ₹368 crore (Jun 2025) to ₹489 crore (Jun 2026), +33%, on revenue +20%. Management credits operating leverage, utilisation and cost programmes, and said in January the lines were about 90% full. Why it may last: Lines were about 90% full in January, so further spreading needs the FY27 capital spending of about ₹550 crore, whose depreciation lands before its sales, and part of the recent lift was currency. Operating margin staying near 27% or better after the new lines start would show it lasts. What could be flattering it: Profit lifted by other income, a lower tax rate, or a weaker rupee inflating sales, rather than fixed costs being spread. Next check: Operating margin stays at or above 26% in the Sep 2026 quarter (versus 21.11% a year earlier) while depreciation rises from the new capital spending. Quarter by quarter, 4 quarters

July to September 2025

Management claimed base-business margin of 37%, but the consolidated numbers did not show it yet: revenue ₹1,487 crore (+6% on ₹1,406 crore a year earlier), operating profit ₹314 crore (+6%), operating margin 21.11% versus 21.13% a year earlier. A one-off GST provision weighed on the quarter. ✓ fact

From our notes of the call for July to September 2025: Base business adjusted operating margin improved to 37% (vs 35% goal) driven by: automation of production lines, alternate API supplier development, batch size optimization. October to December 2025

Revenue ₹1,695 crore (+22% on ₹1,384 crore), operating profit ₹435 crore (+21% on ₹360 crore). Operating margin 25.65% versus 26.01% a year earlier, so volume grew but margin did not widen yet. Management said lines run about 90% full. ✓ fact

From our notes of the call for October to December 2025: Currently 90% capacity utilized; expansion essential for 12%+ growth pathway. January to March 2026

Revenue ₹1,743 crore (+22% on ₹1,425 crore), operating profit ₹513 crore (+47% on ₹348 crore), operating margin 29.44% versus 24.39%. Depreciation only ₹109 crore versus ₹96 crore. Two new lines were commercialised. ✓ fact

From our notes of the call for January to March 2026: High capacity utilization across key lines enabling operating leverage and supporting volume expansion. April to June 2026

Revenue ₹1,800 crore (+20% on ₹1,506 crore), operating profit ₹489 crore (+33% on ₹368 crore), operating margin 27.18% versus 24.43% a year earlier (down from 29.44% in the March quarter). Gross margin 62.22% versus 62.36%, so the margin gain sits below gross margin, in fixed costs. Depreciation ₹111 crore versus ₹101 crore (+10%). ✓ fact

From our notes of the call for April to June 2026: Operating margin expansion - drivers: operating leverage, utilization improvement, productivity, cost optimization and value-added products. New products too early to call

A steady stream of US injectable launches (31 in FY26; Dalbavancin in February 2026; multivitamin, Sugammadex in FY27) is lifting US sales: US revenue grew 26% in the March quarter and 32% in the June quarter to ₹9,810 million (about ₹981 crore). Why it may last: Each generic launch loses price as rivals enter (Dalbavancin already faces competition), so the effect lasts only if the launch cadence keeps up; US growth after Dalbavancin's first year would decide it. What could be flattering it: Launch count without sales, or US growth that is mainly the weaker rupee while generic prices fall. Next check: US revenue grows at least 15% year on year at constant currency in the Sep 2026 quarter. Quarter by quarter, 4 quarters

July to September 2025

New launches added 7 of 17 points of US growth; Dalbavancin delayed to next quarter. Revenue ₹1,487 crore. ✓ fact

From our notes of the call for July to September 2025: Seven new US product launches in Q2 including Daptomycin. October to December 2025

10 US launches; US +16% reported but only +8% at constant currency, so half was the weaker rupee. Revenue ₹1,695 crore. ✓ fact

From our notes of the call for October to December 2025: Q3: 9 ANDAs filed, 4 approvals, 10 US product launches (Argatroban, Acetazolamide, Doxycycline)

January to March 2026

US +26%; Dalbavancin launched with a UNICEF contract and no stuffing of the channel reported. Revenue ₹1,743 crore. ✓ fact

From our notes of the call for January to March 2026: Dalbavancin launched February with strong immediate demand; UNICEF contract win driven demand higher in Q4. April to June 2026

US +32%; multivitamin has temporary exclusivity, Dalbavancin faces competition. Base-business growth of 24% included 5 points from currency. Revenue ₹1,800 crore. ✓ fact

From our notes of the call for April to June 2026: US revenue ₹9,810 million, up 32% on a year earlier; recent CDMO launches and existing-product volumes drove growth. 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.)

## What could change the Gland Pharma story? What are the risks? 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.)

## What to watch in Gland Pharma's next results? 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. | What to check | Why |
| --- | --- |
| 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. | A bigger order book |
| Operating margin stays at or above 26% in the Sep 2026 quarter (versus 21.11% a year earlier) while depreciation rises from the new capital spending. | Costs spread over more sales |
| US revenue grows at least 15% year on year at constant currency in the Sep 2026 quarter. | New products |
| Vial-line FDA approval and any resulting revenue-growth uplift to test the current-year framework. | From the call |
| Cenexi quality releases after the heatwave and Fontenay modernization to test the profitability trajectory. | From the call |
| Strategic sterile-injectable technology transfer and initial filings to test end-to-end contract execution. | From the call |

## Which stock lists is Gland Pharma on? 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. - [Multibagger study list Study stage: middle](https://www.sectoralpha.in/multibagger-stocks-india)
- [Momentum stocks Market cap cr: 50602.515455925575](https://www.sectoralpha.in/momentum-stocks-india)
- [52 week high & low 52-week position: Near 52-week high](https://www.sectoralpha.in/52-week-high-stocks-india)
- [Small & mid cap stocks Size rank in India: 187](https://www.sectoralpha.in/small-cap-stocks-india)
- [Pharma stocks Market value (₹ crore): 50602.515455925575](https://www.sectoralpha.in/sectors/pharma-stocks-india)

## Is Gland Pharma profitable? 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. 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. ## How much revenue does Gland Pharma make, and is it growing? 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. 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. ## How much of every ₹100 of sales does Gland Pharma keep? 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. 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. ## Is Gland Pharma's profit turning into cash? 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. 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. ## Where does Gland Pharma's cash go? 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. 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. ## What is Gland Pharma's P/E ratio, and how does it compare with its own history? 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. 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 +63.8%. 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. ## Is the Gland Pharma business getting better or worse? 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. Why it matters: when the lines disagree, each line above matters more than any single label. ## What is the Gland Pharma story, and has it been checked? 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. 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 numbers. 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. Where they disagree. 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. 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. 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. ## Did Gland Pharma management deliver what it promised? 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. ## What is Gland Pharma management's track record? 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. Sources:

- [bseindia.com](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0970f67b-9484-45d5-ad65-974d4bf47f7b.pdf)
- [glandpharma.com](https://glandpharma.com/images/Board_Comments_Fines.pdf)
- [glandpharma.com](https://glandpharma.com/investors/corporate-governance)

(Checked 14 October 2026.)

## How much does Gland Pharma earn on its capital? 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). 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. ## Does Gland Pharma have too much debt? 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. ## What is the Gland Pharma shareholding pattern? 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. 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. ## How far is Gland Pharma from balance-sheet trouble? 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. ## How does Gland Pharma rank in its industry? 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. ## Which companies is Gland Pharma compared with? Gland Pharma ranks 4 of 24 Pharma - API & CRAMS companies on the 4-Factor Sector Score, with 69.9 out of 100. 1. [Neuland Laboratories Ltd](https://www.sectoralpha.in/stocks/neuland-laboratories-ltd) NEULANDLAB · leader · Most evidence points up · 96% evidence 76.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 32.3/35 · Revenue 78.3% · Profit 100% · Operating margin change 23 points · 88% evidence Capital efficiency 22.9/25 · ROCE 26.5% · Operating margin 35% · 100% evidence Valuation 14.1/20 · P/E 50.8× · PEG 1.04 · 100% evidence Relative strength 6.7/20 · Lead over its industry -7.8% · Lead over NIFTY 500 20.3% · 1 year 19.6% · 100% evidence · 12 of 12 weeks ahead Exact sum: 32.3 + 22.9 + 14.1 + 6.7 = 76 · What this means: Earnings are strong; relative strength in its sector is -7.8% and the one-year return is 19.6%. 2. [Acutaas Chemicals Ltd](https://www.sectoralpha.in/stocks/acutaas-chemicals-ltd) ACUTAAS · turning · Most evidence points up · 67% evidence 73.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 31.3/35 · Revenue 45.4% · Profit 95.5% · Operating margin change 9 points · 95% evidence Capital efficiency 20.3/25 · ROCE 31.6% · Operating margin 40% · 76% evidence Valuation 10.2/20 · P/E 74.6× · PEG n/a · 50% evidence Relative strength 12.1/20 · Lead over its industry n/a · Lead over NIFTY 500 59.6% · 1 year 131.7% · 25% evidence · 2 of 9 weeks ahead Exact sum: 31.3 + 20.3 + 10.2 + 12.1 = 73.9 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 3. [Laurus Labs Ltd](https://www.sectoralpha.in/stocks/laurus-labs-ltd) LAURUSLABS · leader · Most evidence points up · 93% evidence 71.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.9/35 · Revenue 23% · Profit 95.3% · Operating margin change 10 points · 100% evidence Capital efficiency 17.3/25 · ROCE 17.8% · Operating margin 34% · 100% evidence Valuation 5.8/20 · P/E 97× · PEG 2.98 · 65% evidence Relative strength 17.0/20 · Lead over its industry 42.3% · Lead over NIFTY 500 82.8% · 1 year 152.2% · 100% evidence · 12 of 12 weeks ahead Exact sum: 30.9 + 17.3 + 5.8 + 17 = 71 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 4. Gland Pharma Ltd this page GLAND · leader · Most evidence points up · 96% evidence 69.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.0/35 · Revenue 17.6% · Profit 46.4% · Operating margin change 3 points · 88% evidence Capital efficiency 16.0/25 · ROCE 15.1% · Operating margin 27% · 100% evidence Valuation 12.1/20 · P/E 44.6× · PEG 1.45 · 100% evidence Relative strength 16.8/20 · Lead over its industry 15.1% · Lead over NIFTY 500 49.3% · 1 year 60.5% · 100% evidence · 12 of 12 weeks ahead Exact sum: 25 + 16 + 12.1 + 16.8 = 69.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [IOL Chemicals & Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/iol-chemicals-pharmaceuticals-ltd) IOLCP · leader · Most evidence points up · 100% evidence 69.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.1/35 · Revenue 26.7% · Profit 75% · Operating margin change 4 points · 100% evidence Capital efficiency 12.8/25 · ROCE 11.3% · Operating margin 14% · 100% evidence Valuation 13.9/20 · P/E 24.6× · PEG 0.66 · 100% evidence Relative strength 13.9/20 · Lead over its industry 21.6% · Lead over NIFTY 500 53.8% · 1 year 92.1% · 100% evidence · 12 of 12 weeks ahead Exact sum: 29.1 + 12.8 + 13.9 + 13.9 = 69.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Shilpa Medicare Ltd](https://www.sectoralpha.in/stocks/shilpa-medicare-ltd) SHILPAMED · leader · Most evidence points up · 89% evidence 67.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.4/35 · Revenue 28% · Profit 100% · Operating margin change 1 points · 88% evidence Capital efficiency 10.8/25 · ROCE 10.9% · Operating margin 29% · 100% evidence Valuation 9.9/20 · P/E 65.7× · PEG 1.73 · 65% evidence Relative strength 19.9/20 · Lead over its industry 47.2% · Lead over NIFTY 500 84.2% · 1 year 170.8% · 100% evidence · 12 of 12 weeks ahead Exact sum: 26.4 + 10.8 + 9.9 + 19.9 = 67 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Morepen Laboratories Ltd](https://www.sectoralpha.in/stocks/morepen-laboratories-ltd) MOREPENLAB · leader · Evidence leans up · 85% evidence 62.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 31.8/35 · Revenue 30.1% · Profit 90.9% · Operating margin change 9 points · 100% evidence Capital efficiency 9.3/25 · ROCE 8.1% · Operating margin 16% · 100% evidence Valuation 8.5/20 · P/E 32.9× · PEG 2.14 · 100% evidence Relative strength 12.5/20 · Lead over its industry n/a · Lead over NIFTY 500 94.5% · 1 year 139% · 25% evidence · 12 of 12 weeks ahead Exact sum: 31.8 + 9.3 + 8.5 + 12.5 = 62.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [Divis Laboratories Ltd](https://www.sectoralpha.in/stocks/divis-laboratories-ltd) DIVISLAB · leader · Evidence leans up · 96% evidence 61.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.7/35 · Revenue 16.4% · Profit 26.8% · Operating margin change 11 points · 88% evidence Capital efficiency 18.6/25 · ROCE 22% · Operating margin 41% · 100% evidence Valuation 2.6/20 · P/E 87.1× · PEG 3.45 · 100% evidence Relative strength 15.5/20 · Lead over its industry 9.2% · Lead over NIFTY 500 43.1% · 1 year 45.1% · 100% evidence · 12 of 12 weeks ahead Exact sum: 24.7 + 18.6 + 2.6 + 15.5 = 61.4 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 9. [Granules India Ltd](https://www.sectoralpha.in/stocks/granules-india-ltd) GRANULES · turning · Evidence leans up · 96% evidence 57.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.3/35 · Revenue 24.8% · Profit 38.1% · Operating margin change 3 points · 88% evidence Capital efficiency 16.2/25 · ROCE 15.5% · Operating margin 23% · 100% evidence Valuation 10.2/20 · P/E 35.2× · PEG 1.29 · 100% evidence Relative strength 6.7/20 · Lead over its industry -5.2% · Lead over NIFTY 500 24.2% · 1 year 48.5% · 100% evidence · 7 of 12 weeks ahead Exact sum: 24.3 + 16.2 + 10.2 + 6.7 = 57.4 · What this means: Earnings are strong; relative strength in its sector is -5.2% and the one-year return is 48.5%. 10. [Sai Life Sciences Ltd](https://www.sectoralpha.in/stocks/sai-life-sciences-ltd) SAILIFE · leader · Evidence leans up · 89% evidence 57.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.7/35 · Revenue 17.6% · Profit 48% · Operating margin change 3 points · 88% evidence Capital efficiency 17.0/25 · ROCE 19.6% · Operating margin 27% · 100% evidence Valuation 4.8/20 · P/E 90× · PEG 3.63 · 65% evidence Relative strength 13.8/20 · Lead over its industry 9.9% · Lead over NIFTY 500 42.9% · 1 year 69.6% · 100% evidence · 12 of 12 weeks ahead Exact sum: 21.7 + 17 + 4.8 + 13.8 = 57.3 · What this means: A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. 11. [SMS Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/sms-pharmaceuticals-ltd) SMSPHARMA · breaking out · Evidence leans up · 96% evidence 55.8 out of 100 Growth Capital Valuation Relative
12. [Blue Jet Healthcare Ltd](https://www.sectoralpha.in/stocks/blue-jet-healthcare-ltd) BLUEJET · quiet · Evidence leans up · 81% evidence 52.7 out of 100 Growth Capital Valuation Relative
13. [Solara Active Pharma Sciences Ltd](https://www.sectoralpha.in/stocks/solara-active-pharma-sciences-ltd) SOLARA · breaking out · Evidence leans down · 74% evidence 49.5 out of 100 Growth Capital Valuation Relative
14. [Windlas Biotech Ltd](https://www.sectoralpha.in/stocks/windlas-biotech-ltd) WINDLAS · leader · Evidence leans down · 81% evidence 47.6 out of 100 Growth Capital Valuation Relative
15. [Anthem Biosciences Ltd](https://www.sectoralpha.in/stocks/anthem-biosciences-ltd) ANTHEM · leader · Evidence leans down · 89% evidence 46.7 out of 100 Growth Capital Valuation Relative
16. [Piramal Pharma Ltd](https://www.sectoralpha.in/stocks/piramal-pharma-ltd) PPLPHARMA · leader · Evidence leans down · 71% evidence 44.6 out of 100 Growth Capital Valuation Relative
17. [Supriya Lifescience Ltd](https://www.sectoralpha.in/stocks/supriya-lifescience-ltd) SUPRIYA · breaking out · Evidence leans down · 96% evidence 43.7 out of 100 Growth Capital Valuation Relative
18. [Concord Biotech Ltd](https://www.sectoralpha.in/stocks/concord-biotech-ltd) CONCORDBIO · quiet · Evidence leans down · 85% evidence 40.8 out of 100 Growth Capital Valuation Relative
19. [Jubilant Pharmova Ltd](https://www.sectoralpha.in/stocks/jubilant-pharmova-ltd) JUBLPHARMA · turning · Most evidence points down · 86% evidence 30.3 out of 100 Growth Capital Valuation Relative
20. [Hikal Ltd](https://www.sectoralpha.in/stocks/hikal-ltd) HIKAL · turning · Most evidence points down · 78% evidence 29.7 out of 100 Growth Capital Valuation Relative
21. [OneSource Specialty Pharma Ltd](https://www.sectoralpha.in/stocks/onesource-specialty-pharma-ltd) ONESOURCE · turning · Most evidence points down · 83% evidence 29.2 out of 100 Growth Capital Valuation Relative
22. [Syngene International Ltd](https://www.sectoralpha.in/stocks/syngene-international-ltd) SYNGENE · turning · Most evidence points down · 100% evidence 27.8 out of 100 Growth Capital Valuation Relative
23. [Cohance Lifesciences Ltd](https://www.sectoralpha.in/stocks/cohance-lifesciences-ltd) COHANCE · breaking out · Most evidence points down · 78% evidence 27.1 out of 100 Growth Capital Valuation Relative
24. [Dishman Carbogen Amcis Ltd](https://www.sectoralpha.in/stocks/dishman-carbogen-amcis-ltd) DCAL · basing · Most evidence points down · 64% evidence 27.0 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Pharma - API & CRAMS](https://www.sectoralpha.in/sectors/pharma-api-crams), all 24 compared on one page. ## Which companies are close to Gland Pharma in size? Gland Pharma is the 3rd largest of 24 Pharma - API & CRAMS companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Divis Laboratories and Laurus Labs. Just below it: Anthem Biosciences, Sai Life Sciences, Acutaas Chemicals and Piramal Pharma. ### Pharma - API & CRAMS companies close in size

1. [Divis Laboratories Ltd](https://www.sectoralpha.in/stocks/divis-laboratories-ltd) ₹2,59,628 crore
2. [Laurus Labs Ltd](https://www.sectoralpha.in/stocks/laurus-labs-ltd) ₹1,29,972 crore
3. Gland Pharma Ltd ₹51,086 crore
4. [Anthem Biosciences Ltd](https://www.sectoralpha.in/stocks/anthem-biosciences-ltd) ₹46,689 crore
5. [Sai Life Sciences Ltd](https://www.sectoralpha.in/stocks/sai-life-sciences-ltd) ₹33,093 crore
6. [Acutaas Chemicals Ltd](https://www.sectoralpha.in/stocks/acutaas-chemicals-ltd) ₹32,778 crore
7. [Piramal Pharma Ltd](https://www.sectoralpha.in/stocks/piramal-pharma-ltd) ₹31,807 crore

[All 24 Pharma - API & CRAMS companies, largest first](https://www.sectoralpha.in/sectors/pharma-api-crams#all-companies)

### Companies close in size in other industries

1. [Altius Telecom Infrastructure Trust](https://www.sectoralpha.in/stocks/altius-telecom-infrastructure-trust) ₹53,025 crore · Infrastructure Investment Trusts
2. [Kalyan Jewellers India Ltd](https://www.sectoralpha.in/stocks/kalyan-jewellers-india-ltd) ₹51,431 crore · Diamond, Gems & Jewellery
3. Gland Pharma Ltd ₹51,086 crore
4. [Coromandel International Ltd](https://www.sectoralpha.in/stocks/coromandel-international-ltd) ₹50,035 crore · Fertilisers
5. [SBI Cards & Payment Services Ltd](https://www.sectoralpha.in/stocks/sbi-cards-payment-services-ltd) ₹49,962 crore · Finance - Credit Cards

## What else do people ask about Gland Pharma? ### What is Gland Pharma's share price today? Gland Pharma Ltd's share price is ₹3,158.90, +63.8% over the past year. The whole company is worth ₹52,124 Cr on the market. It is at its highest price of the past 52 weeks (range ₹1,627 to ₹3,159), 29.6% above its 200-day average. The price has been rising for 24 weeks (as of 3 November 2026). ### What were Gland Pharma's latest quarterly results? Gland Pharma Ltd reported revenue of ₹1,800 Cr and net profit of ₹317 Cr for the Jun 2026 quarter. Revenue rose 19.5% and profit rose 47.4% compared with a year earlier. Earnings per share were ₹19.21. The operating margin was 27.0%, 3.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is Gland Pharma's market cap? Gland Pharma Ltd's market capitalisation is ₹52,124 Cr at a share price of ₹3,158.90. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Gland Pharma performing? Gland Pharma Ltd's share price has been rising for 24 weeks. In its latest quarter, revenue rose 19.5% and profit rose 47.4% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 34 weeks running (as of 3 November 2026). ### Will Gland Pharma's share price go up? This page does not forecast Gland Pharma Ltd's share price. What it shows instead: the share price is ₹3,158.90, and it has been rising for 24 weeks. Its P/E of 45.5× is higher than 83% of its own last 5 years (as of 3 November 2026). ### Who owns Gland Pharma? Promoters own 45.8% of Gland Pharma Ltd, foreign institutions 10.4%, domestic institutions 33.2% and the public 10.7% (latest quarter). The biggest change over the last two years: Promoters cut their stake by 6.1 percentage points over 8 quarters (as of 3 November 2026). ### Does Gland Pharma have too much debt? No, Gland Pharma Ltd has little debt: its debt is 0.03× its equity, and its operating profit is 49 times its interest bill. FY26 borrowings were ₹284 Cr against equity of ₹10,357 Cr. So the returns on this page come from the business, not borrowed money (as of 3 November 2026). ### Where is Gland Pharma in its business cycle? Gland Pharma Ltd's FY26 operating margin was 25.0%, against a 7-year range of 23.0% to 38.0%: the low end of its own range, which is often where recoveries start. The latest quarter was 27.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Gland Pharma story? The main question: results are strong, and the P/E is higher than 83% of its own history. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Gland Pharma a stock worth studying right now? What the numbers show: Gland Pharma Ltd's results are improving, and its P/E is near the top of its own history, higher than 83% of past readings. The main open question: whether earnings grow enough to match the multiple. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Gland Pharma share price forecast for 2026? What management itself guided: FY27 revenue growth 15% on a constant-currency basis; could exceed 15% if the constrained vial line gains FDA approval. 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. What would change the story: 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. ### Where does this page get Gland Pharma's management information? From Gland Pharma's results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. ## Lists

- Multibagger study list: https://www.sectoralpha.in/multibagger-stocks-india
- Momentum stocks: https://www.sectoralpha.in/momentum-stocks-india
- 52 week high & low: https://www.sectoralpha.in/52-week-high-stocks-india
- Small & mid cap stocks: https://www.sectoralpha.in/small-cap-stocks-india
- Pharma stocks: https://www.sectoralpha.in/sectors/pharma-stocks-india

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