Gland Pharma delivered a solid Q3 FY26!

Consolidated revenue hit ₹1,695.4 Cr, up 22% YoY, with 9M revenue at ₹4,687.9 Cr (+12%). Adjusted Profit After Tax (PAT) soared 37% YoY to ₹279.7 Cr for the quarter.

US sales jumped 19% YoY, and Europe sales grew 54% YoY, while the Cenexi unit's revenue was up 39%. Growth is powered by strategic moves in complex injectables – 6 already launched, 3 more coming.

R&D spending is up, focused on these high-value products.

Capacity is expanding aggressively for Drug Device Combinations (DDCs) like GLP-1 pens (from 40M to 140M units) and new lines at European sites.

They're also building a Ready-to-Use (RTU) bag portfolio for the US market ($685M opportunity). Recent wins include nine new US product launches (Argatroban, Doxycycline etc.) and a significant new oncology CMO contract with Big Pharma, promising long-term revenue.

Cenexi is boosting production for key products, and the company inked two out-licensing deals in Europe.

Key financials: Q3 Adj.

EBITDA margin 26%, 9M Cash Flow from Ops ₹626.9 Cr, Net Cash ₹2,319.1 Cr.

Outlook: Complex injectables and new partnerships (commercialization by FY28) are expected to fuel future growth.

Capacity boosts ensure strong market presence.