India's Gland Pharma jumps to 10-month high on quarterly profit surge

Gland Pharma

18/05/2026 06:01

** Shares of Gland Pharma GLAD.NS up 12.7% to 2,100 rupees, highest since July 2025

** Drugmaker's March-qtr consol profit nearly doubles to 3.67 billion rupees ($38.12 million); consol rev from ops rises 22.3% to 17.43 billion rupees, supported by launch of new products and increase in capacity

** BofA ("Buy"; PO: 1,868 rupees) says base business margin, excluding profit share, improved sharply aided by higher volumes and new CDMO contracts

** Flags co's FY27 guidance of ~200 million euro revenue was below expectation given the 48-50 million euro run-rate in Q1/Q3FY26 as well as the capacity expansion and new contract wins

** Nomura ("Buy"; PT: 2,390 rupees) says revenue growth was aided by sharp uptick in U.S. revenues, steady Cenexi revenues despite some disruptions in the initial period of the quarter

** Expects potential acceleration in revenue growth in the medium term would support valuation multiples

($1 = 96.2875 Indian rupees)

 (Reporting by Mridula Kumar in Bengaluru)

 ((Mridula.Kumar@thomsonreuters.com;))