Gland Pharma logo

Gland Pharma

GLAND NSE

Key Fundamentals

MidcapPharmaceuticalsHealthcare
Market Cap
₹47,967 Cr
Volatility
Moderate
P/E Ratio
41.97
EBITDA
₹1,946 Cr
Return on Equity
9.92%
Debt to Equity
0.03
Book Value
₹627.71
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 4.57 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

6d ago
AI opinion · based on fundamentals
Risk medium

Gland Pharma is a Healthcare company with a market capitalisation of about ₹47,932 crore. It trades at a P/E of 42.4x and a P/B of 4.62x. Growth has picked up recently, with TTM sales up 18% and TTM profit up 49%, but longer-term profit growth has been weak at 8% over 3 years and 1% over 5 years. Return on equity is modest at 9% over 3 years and 11% last year, and the company is almost debt free.

Bull Case 7
  • TTM profit growth of 49% is far above the 3-year profit CAGR of 8%, which suggests earnings are recovering after a weak period.
  • TTM sales growth of 18% and a 3-year sales CAGR of 21% show steady top-line growth, faster than the 5-year sales CAGR of 13%.
  • The company is almost debt free, which reduces financial risk and leaves room to fund capex or acquisitions without much leverage.
  • A dividend payout ratio of 39.1% shows the company returns a meaningful share of profits while still keeping capital for reinvestment.
  • ROE improved to 11% last year from the 3-year average of 9%, a sign that capital efficiency may be getting better as profits recover.
  • The stock has returned 49% over the past year, which shows the market has noticed the earnings turnaround.
  • With a market cap of about ₹47,932 crore, the company is large enough to attract institutional investors and offer good liquidity in the Indian pharma space.
Bear Case 7
  • A P/E of 42.4x, which works out to an earnings yield of about 2.4%, already prices in a lot of growth even though the 5-year profit CAGR is only 1%.
  • Profit has grown just 1% a year over 5 years while sales grew 13% a year, which points to significant margin compression over that period.
  • ROE of 9.29% over 3 years is low for a company trading at 4.62x book value, so the gap between valuation and returns on capital is wide.
  • Promoter holding has fallen by 6.09% over the last 3 years, which some investors may read as reduced promoter commitment or a source of supply overhang.
  • The 5-year stock CAGR is -5%, so even after the 49% gain in the past year, long-term shareholders have lost money.
  • The 49% TTM profit growth may partly reflect a low base, given the 3-year profit CAGR of just 8%, so it may not last at this pace.
  • A dividend yield of 0.69% gives little income support at current valuations, despite the 39.1% payout ratio.

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

AI News Digest

1d ago
Headwinds 2
  • Fosun promoter stake sale overhang Sep 8

    Fosun Pharma Industrial sold 98,97,000 shares (6.00%) on September 4, 2026, cutting promoter holding from 51.76% to 45.76%. NSE block data shows 75,05,500 of those shares (4.55%) sold at an average ₹2,826.60 for ₹2,121.5 crore. Promoter holding is now below 50% for the first time since the 2017 acquisition. This is Fosun's second big sale in about two years, after a 6% sale for ₹1,754 crore in June 2024, which raises the risk of more supply.

  • SEBI LODR director appointment fine Sep 13

    Gland Pharma paid a combined ₹1.40 lakh penalty to NSE and BSE for breaching SEBI LODR norms on appointing an independent director over 75. The company paid voluntarily, so the money is immaterial, but it shows a governance compliance lapse.

Positives 3
  • USFDA zero Form 483 at VSEZ Sep 2

    The USFDA ran a GMP inspection of the VSEZ Sterile Oncology Formulations and API facilities in Visakhapatnam from August 24 to September 1, 2026, and issued zero Form 483 observations. This clean result strengthens Gland's regulatory standing in the US market.

  • Strong Q1 FY27 earnings growth Sep 3

    Consolidated net profit rose 47% YoY to ₹317 crore and revenue rose 19.5% YoY to ₹1,800 crore. EBITDA grew 37% with a 28% adjusted margin. CDMO (50% of revenue) grew 20% and B2B (50%) grew 19%. R&D spend was ₹77.2 crore, or 4% of revenue.

  • Domestic institutions absorb Fosun supply Sep 3

    Kotak MF (₹789.47 crore, 1.7%), Axis MF (₹383.57 crore, 0.82%) and ICICI Prudential AMC (₹293.68 crore, 0.63%) led the buying, joined by SBI Life, HDFC Life, Aditya Birla Sun Life MF and others. The stock closed nearly 1% higher at ₹2,932.40 on September 4, its highest close since August 14.

Neutral 3
  • Mirae Asset trims to 2.95% Sep 30

    Mirae Asset MF sold 57,842 shares in the open market on September 28, 2026, reducing its holding to 2.95%. Mirae had taken part in the September 4 block deal, so this is a small rebalance.

  • ₹29.27 crore large trade flagged Sep 24

    A trade-scanning signal flagged about 1,00,068 shares changing hands on BSE near ₹2,924.55, worth ₹29.27 crore. The exchange has not confirmed this as a bulk or block deal.

  • September analyst and investor meetings Sep 10

    Management scheduled one-on-one meetings with East Bridge Capital, IIFL Capital and Antique Broking, plus a Nomura group meeting on September 25, 2026. The schedule was disclosed under SEBI Regulation 30.

TL;DR: Gland Pharma's fundamentals look strong: Q1 FY27 profit grew 47% and revenue 19.5%, margins widened to 28%, and the Visakhapatnam oncology and API facilities cleared the USFDA with zero Form 483 observations. The main risk is Fosun's continued selling, which took promoter holding below 50% (about 45.76%) and may lead to more supply. A minor compliance fine adds to that. Strong buying by domestic mutual funds and insurers, and a firm close of about ₹2,932, suggest the market is absorbing the overhang. The trend looks to be improving, with further Fosun sales and Q2 FY27 CDMO momentum as the next things to watch.

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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69 extracted metrics + investor summaries across FY19–FY27.

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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 ₹47,967 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 41.97, on earnings per share of ₹43.83, against a book value of ₹627.71 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 0.69%.
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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