The call ran from 8:31 AM to 9:23 AM IST (53 min).
Key takeaways
Like-for-like growth ~20% and ex-IGI EBITDA margin 21%, yet H1 operating cash was negative; H2 cash recovery is the test.
| Revenue growth | Like-for-like Q2 revenue up ~20% YoY; reported figures distorted by one-offs. |
|---|---|
| Margins | Ex-IGI EBITDA 21%; adjusted PAT margin 11.4%; H2 improvement guided. |
| Demand visibility | India outgrew IPM: 16.7% vs 13.8%; EM secondary sales strong. |
| Management confidence | Over-optimistic; H2 recovery asserted, not yet evidenced. |
Growth
Like-for-like revenue ~20% in Q2, ~18% in H1; NA core +31%, EM +33%, Europe only +6.2%.
Outlook
Gross debt to zero by end-FY27; H2 cash generation ₹700-800 Cr; net cash ~₹1,200 Cr targeted; EM growth 15-20% p.a.
Risks
Negative H1 operating cash; gross debt ₹867 Cr; litigation settlements continuing; weak European generics; H2 cash recovery unproven.
Summary by ALFA Finder, written with AI assistance from our own recording of the call, published . Open it on ALFA Filings ›
The results behind this call
Glenmark Pharmaceuticals Q2 FY27 Results: Net Profit ₹263.8 Cr, Down 56.8% YoY
Glenmark Pharmaceuticals Ltd reported revenue from operations of ₹4,247 Cr (-29.8% YoY) and net profit of ₹263.8 Cr (-56.8% YoY) for Q2 FY27.
- Key figure
- Net profit ₹263.8 Cr · -56.8% YoY
What management said last time
Full summary →From the call summary published .
Outlook they gave
Management guides 21-22% overall margins; expects 12-15% sustainable growth in India; aiming for 60% European branded revenue mix by FY32.
Growth they described
Consolidated revenue grew 23.1% YoY; India formulation business grew 15.5%; North America core business up 19.8% excluding out-licensing.
Call details
| Company | Glenmark Pharmaceuticals Ltd |
|---|---|
| NSE symbol | GLENMARK |
| ISIN | INE935A01035 |
| Call | Q2 FY27 earnings call |
| Date | Friday, 6 November 2026 |
| Time | 8:30 AM IST |
| Length | 53 min |
| Audio | Our stream on YouTube ↗ |
Glenmark Pharmaceuticals Ltd: key numbers
- Share price
- ₹2,590.00
- Market cap
- ₹73,096 Cr
- Revenue (annual)
- ₹16,983 Cr
- Net profit (annual)
- ₹1,362 Cr
- P/E (TTM)
- 50.4×Sector 42.0×
- Promoter holding
- 46.65%+0.00% QoQ
- FII holding
- 21.51%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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