GLENMARKGlenmark Pharmaceuticals Ltd.
Glenmark Pharmaceuticals Q2 FY27 Results: Consolidated Net Profit ₹264 Crore on Total Income of ₹4,250 Crore
- Earnings
- Pharmaceuticals
Reviewed byKeshav SehgalBlacklitt Research
Glenmark Pharmaceuticals (NSE: GLENMARK) reported consolidated total income of ₹4,249.87 crore and consolidated net profit of ₹263.83 crore for the quarter ended 30 Sep 2026, it said in a filing on 05 Nov 2026. Standalone total income was ₹2,584.01 crore and standalone net profit was ₹434.89 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹4,249.87 crore, down 32.0% YoY and up 4.1% QoQ
- Net profit: ₹263.83 crore, down 56.8% YoY and 45.4% QoQ
- EPS: ₹9.35 basic, against ₹21.63 a year earlier
- Exceptional items: ₹283.88 crore loss, mainly the Humana settlement and related costs
Standalone
The company on its own, without its subsidiaries
- Total income: ₹2,584.01 crore, up 41.6% YoY and 1.3% QoQ
- Net profit: ₹434.89 crore, against a loss of ₹739.19 crore a year earlier
- EPS: ₹15.41 basic, against a loss of ₹26.19 a year earlier
- Exceptional items: ₹142.93 crore loss in the quarter
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 4,249.87 | 6,247.50 | -32.0% | 4,084.25 | +4.1% | |
| Revenue from operations | 4,247.33 | 6,046.87 | -29.8% | 4,018.48 | +5.7% |
| Other income | 2.54 | 200.63 | -98.7% | 65.76 | -96.1% |
| 263.83 | 610.43 | -56.8% | 482.83 | -45.4% | |
| Profit before tax | 338.29 | 967.40 | -65.0% | 643.39 | -47.4% |
| Finance costs | 63.77 | 66.46 | -4.1% | 54.00 | +18.1% |
| Depreciation | 180.42 | 141.20 | +27.8% | 173.17 | +4.2% |
| Net profit margin | 6.21% | 9.77% | -3.56 pp | 11.82% | -5.61 pp |
| EPS, basic (₹) | 9.35 | 21.63 | -56.8% | 17.11 | -45.4% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated total income fell 32.0% year on year to ₹4,249.87 crore, while revenue from operations fell 29.8% to ₹4,247.33 crore.
Net profit fell faster than total income, down 56.8% to ₹263.83 crore. Profit before tax of ₹338.29 crore is 65.0% below the year-earlier figure.
Finance costs of ₹63.77 crore are 1.5% of total income, and depreciation rose 27.8% to ₹180.42 crore. Consolidated net profit margin was 6.21%, against 9.77% a year earlier. The company says the settlement is not based on any admission of liability or illegality.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 2,584.01 | 1,824.42 | +41.6% | 2,550.40 | +1.3% | |
| Revenue from operations | 2,475.82 | 1,538.66 | +60.9% | 2,434.99 | +1.7% |
| Other income | 108.19 | 285.76 | -62.1% | 115.41 | -6.3% |
| 434.89 | -739.19 | n/a | 735.64 | -40.9% | |
| Profit before tax | 553.14 | -906.37 | n/a | 866.10 | -36.1% |
| Finance costs | 30.93 | 23.40 | +32.2% | 23.25 | +33.1% |
| Depreciation | 63.00 | 58.93 | +6.9% | 62.32 | +1.1% |
| Net profit margin | 16.83% | -40.52% | +57.35 pp | 28.84% | -12.01 pp |
| EPS, basic (₹) | 15.41 | -26.19 | n/a | 26.07 | -40.9% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit of ₹434.89 crore compares with a loss of ₹739.19 crore a year earlier and ₹735.64 crore in the quarter ended 30 Jun 2026, a fall of 40.9% from that quarter. Standalone exceptional items were a loss of ₹142.93 crore this quarter, against a gain of ₹223.00 crore in the quarter ended 30 Jun 2026, which the notes tie to the transfer of the Nebulizer brands to Glenmark Healthcare Limited.
Standalone finance costs of ₹30.93 crore are 1.2% of total income, up 32.2% year on year. The standalone net profit margin was 16.83%.
Consolidated net profit of ₹263.83 crore is ₹171.06 crore lower than standalone net profit of ₹434.89 crore. The filing does not give a reason for the gap, and the consolidated statement includes subsidiaries whose results were reviewed by other auditors, 37 of them located outside India.
The results were reviewed by Walker Chandiok & Co LLP, which expressed an unmodified review conclusion. The board approved the results at its meeting held on 5 Nov 2026.
Inference
Dividend paid in the half year was ₹71.34 crore, against ₹0.05 crore a year earlier; the filing does not declare a dividend for the current period.
The filing gives no outlook or guidance for coming quarters, and does not say whether the Humana settlement will be paid in cash in this quarter or when the regulatory costs will be paid. A reader would also want the reason for the fall in consolidated total income, which the filing does not state.
Filed with BSE on . Reference: Original filing (PDF)
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