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Gland Pharma Ltd

GLAND NSE

Key Fundamentals

MidcapPharmaceuticalsHealthcare
Market Cap
₹48,066 Cr
Volatility
High Risk
P/E Ratio
41.9
EBITDA
₹1,946 Cr
Return on Equity
9.92%
Debt to Equity
0.03
Book Value
₹627.88
EPS
₹43.83
52W High
₹3,039.8
52W Low
₹1,573.6

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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48 extracted metrics + investor summaries across FY19–FY26.

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Tapetide Score

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Technical Indicators

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 4.63 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% ↗
Net Income Growth
47.07% ↗
Cash Flow Change
12.75% ↗
ROE
30.01% ↗
ROCE
20.10% ↗
EBITDA Margin (Avg.)
13.41% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 5d ago
AI opinion · based on fundamentals
Risk medium

Gland Pharma is a near-debt-free injectable-focused pharmaceutical company trading at a PE of 42.3x and 4.6x book value, with FY25 consolidated revenue of ₹5,617 crore (flat YoY) and base-business PAT margin of 26%. The stock has rallied 48% in the past year despite muted FY25 earnings growth, while promoter Fosun Pharma has reduced its stake by over 6 percentage points in the last three years.

Bull Case 8
  • Almost debt-free balance sheet provides financial flexibility and low interest-cost advantage in a capital-intensive injectable manufacturing business
  • TTM revenue growth of 18% and 3-year compounded sales CAGR of 21% indicate strong top-line momentum
  • TTM profit growth of 49% signals a sharp earnings recovery after subdued FY23-FY24 performance
  • Base business PAT margin of 26% in FY25 demonstrates durable profitability in the high-barrier injectable segment
  • Gross profit margin of 63% in FY25 (up from prior year) reflects improving product mix and pricing power
  • Healthy dividend payout ratio of 39.1% with a 0.69% yield provides consistent return of capital to shareholders
  • Stock has delivered 48% returns over the past 1 year and 22% CAGR over 3 years, reflecting re-rating by the market
  • CDMO business reaching ~50% of revenue mix (Q1 FY27 data) diversifies revenue away from pure-play generics
Bear Case 8
  • PE of 42.3x is expensive relative to the 3-year compounded profit CAGR of only 8%, implying high expectations baked into the price
  • Return on equity of 9.3% over the last 3 years is below the cost of equity for most investors, indicating capital is not being deployed efficiently
  • Promoter Fosun Pharma has reduced holding by 6.09% over 3 years and publicly signalled further stake sales to shore up its own balance sheet, creating overhang risk
  • FY25 consolidated revenue was flat at ₹5,617 crore (down 1% YoY) with Q4 FY25 net profit declining 3% YoY to ₹186.5 crore, showing near-term execution weakness
  • Stock trades at 4.6x price-to-book, rich for a company generating single-digit ROE, limiting margin of safety
  • 5-year compounded profit CAGR of just 1% highlights that recent profit recovery follows a prolonged stagnation
  • 5-year stock CAGR of -8% (before the recent rally) shows the stock destroyed value for long-term holders who bought near IPO levels
  • EBITDA margin contracted 400 bps to 24% in FY24 before partial recovery, indicating margin volatility linked to product-mix shifts

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

AI News Digest

Anthropic anthropic claude-opus-4.6 17h ago
Positives 5
  • USD 100m CDMO deal signed Aug 9

    Gland Pharma entered a Manufacturing and Supply Agreement with a global pharma firm for 55 sterile injectable SKUs worth USD 100 million, with revenue expected from 2029.

  • USFDA nod for Sugammadex Jul 29

    Secured USFDA approval for Sugammadex Injection, a reversal agent with USD 1.6 billion US market sales. Day 1 launch via marketing partner.

  • Sterile API suite with Neuland Aug 5

    Strategic CDMO partnership with Neuland Laboratories to build a sterile API manufacturing suite at Visakhapatnam, adding 1400 kg annual capacity.

  • New CEO Deepak Sapra appointed Aug 14

    Deepak Sapra appointed CEO effective November 16, 2026, bringing 27 years of experience including over two decades in pharma.

  • Two independent directors approved Jul 20

    Shareholders approved reappointment of Udo Johannes Vetter and appointment of William Robert Keller as Independent Directors via postal ballot with requisite majority.

Neutral 4
  • Strong Q1FY27 results filed Aug 11

    Q1FY27 revenue rose 20% to ₹18,003 million and PAT jumped 47% to ₹3,170 million, driven by CDMO strength. Results approved by Board on August 10, 2026.

  • ₹51.59 Cr block trade on NSE Jul 29

    Block trade of approximately 209,098 shares executed at ₹2,467.40 per share on NSE, valued at ₹51.59 crores, indicating institutional activity.

  • AGM scheduled for Aug 25 Jul 28

    48th Annual General Meeting set for August 25, 2026 via video conferencing. Shareholders required to register email IDs for document access.

  • Q1 FY27 earnings call announced Jul 24

    Earnings conference call held on August 10, 2026 at 6:30 PM IST to discuss quarter ended June 30, 2026.

TL;DR: Gland Pharma is executing strongly on its CDMO pivot with a USD 100m deal, Neuland partnership, and 47% PAT growth in Q1FY27. The USFDA approval for Sugammadex (USD 1.6B market) adds near-term revenue visibility. No material headwinds are visible in recent news flow. The trend is clearly improving with pipeline momentum, leadership renewal, and margin expansion from CDMO scale-up.

Quarterly Results

  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

  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

  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

  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

  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%

Shareholding Pattern

As of Jun 2026
Promoters 51.77%
DIIs 30.44%
FIIs 8.74%
Others 5.55%
Public 3.50%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
58.25%
58.14%
58.02%
58.00%
58.00%
57.87%
57.86%
57.86%
57.86%
57.86%
57.86%
57.86%
57.86%
51.83%
51.83%
51.83%
51.83%
51.83%
51.83%
51.83%
51.83%
51.77%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.01%
0.01%
0.00%
4.91%
0.00%
3.59%
6.88%
4.47%
5.04%
6.90%
7.39%
7.91%
7.58%
7.30%
8.74%
DIIs
10.69%
11.57%
11.39%
11.21%
11.94%
16.71%
20.58%
23.13%
23.23%
23.38%
22.45%
23.14%
25.23%
32.83%
35.37%
34.80%
33.27%
32.85%
32.64%
32.98%
33.35%
30.44%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
3.30%
3.72%
3.77%
3.58%
3.69%
3.70%
3.77%
4.02%
4.26%
5.60%
4.52%
3.79%
3.28%
3.33%
3.28%
3.30%
2.99%
2.91%
2.57%
2.57%
2.53%
3.50%
Others
27.76%
26.58%
26.81%
27.21%
26.37%
21.71%
17.78%
14.98%
14.64%
13.16%
10.27%
15.22%
10.04%
5.12%
5.04%
5.04%
5.01%
5.02%
5.06%
5.04%
4.98%
5.55%
No. of Shareholders
84,467
98,203
1,09,326
1,09,097
1,09,098
1,17,339
1,27,879
1,48,469
1,50,578
1,81,747
1,61,627
1,36,021
1,22,375
1,22,665
1,22,358
1,21,075
1,13,788
1,10,671
97,151
94,578
91,500
1,08,266

Documents

Frequently Asked Questions about Gland Pharma Ltd

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 is listed on the Indian stock exchanges. It is listed on NSE: GLAND and BSE: 543245. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Gland Pharma Ltd belong to?
Gland Pharma Ltd operates in the Healthcare sector within the Pharmaceuticals industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Gland Pharma Ltd?
Gland Pharma Ltd has a market capitalisation of approximately ₹48065.95 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Gland Pharma Ltd?
The Price-to-Earnings (PE) ratio of Gland Pharma Ltd is 41.90. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Gland Pharma Ltd?
Over the past 52 weeks, Gland Pharma Ltd has traded between a low of ₹1,573.6 and a high of ₹3,039.8. This range helps investors understand the stock's price volatility and recent trading levels.
Does Gland Pharma Ltd pay dividends?
Yes, Gland Pharma Ltd has a dividend yield of 0.69%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Gland Pharma Ltd?
Gland Pharma Ltd has a Return on Equity (ROE) of 9.92%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Gland Pharma Ltd on Tapetide?
On Tapetide, you can view Gland Pharma Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

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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