Gland Pharma Q2 results: consolidated profit rises 58% and revenue 23% on US and CDMO growth

Gland Pharma Q2 results for the quarter ended 30 September 2026 show consolidated profit after tax (PAT) of Rs 291 crore, up 58% from Rs 184 crore a year earlier. Revenue from operations rose 23% to Rs 1,834 crore, according to the injectable-focused drugmaker’s press release filed on 6 November 2026. The company reports in Rs million; we have converted to Rs crore.

Gland Pharma Q2 results: key numbers (consolidated)

Measure (Rs crore)	Q2 FY27	Q2 FY26	Change
Revenue from operations	1,834	1,487	+23%
EBITDA	480	314	+53%
Adjusted EBITDA	503	336	+50%
PBT	431	284	+52%
PAT	291	184	+58%

EBITDA here is the company’s own measure: profit before tax plus finance expense and depreciation, excluding other income and forex losses. Adjusted EBITDA adds back employee stock option costs and a one-off GST-related provision.

Why Gland Pharma’s profit rose

The US market drove growth: sales there rose 42% to Rs 1,180 crore. Europe grew 30%. By business, the contract development and manufacturing (CDMO) arm grew 31% and made up 45% of revenue, while critical injectables grew 18%. PAT margin improved by about 350 basis points to 16%.

Not everything rose. India sales fell 42% to Rs 39 crore, and “rest of the world” sales fell 21%.

Quarter-on-quarter and one-time items

Against the June quarter, revenue was up 2% but PAT was down 8% from Rs 317 crore. The adjusted EBITDA figure excludes a one-off GST-related provision, which the company flagged in its footnotes.

What to watch next

Gland launched four molecules in the US, filed eleven ANDAs (generic drug applications) and got ten approved in the quarter. Its Dundigal facility ended a USFDA audit in October 2026 with four procedural observations, while the VSEZ facility had none.

In our view, the sustainability of US growth and CDMO order flow are the key things to track. More in our results news.