Q2 2026 Gland Pharma Ltd Earnings Call Transcript
Key Points
- Gland Pharma Ltd (NSE:GLAND) reported a 6% year-on-year increase in consolidated revenue for Q2 FY26, driven by strong performance in the US and European markets.
- The company launched seven new products in the US market during the quarter, contributing to an 8% year-on-year revenue growth in the region.
- Cenexi, a subsidiary of Gland Pharma, showed a 10% year-over-year growth in revenue in Euro terms, indicating successful turnaround efforts.
- Gland Pharma's gross margins improved to 63% from 59% in the previous year, supported by a favorable business and product mix.
- The company is expanding its biologic CDMO capacity and increasing cartridge fill-finished capacity, positioning itself as a high-end CDMO partner for global pharma companies.
- Cenexi incurred losses in H1 FY26 due to a planned shutdown, although EBITDA losses decreased compared to the previous year.
- The rest of the world market remained almost flat year-on-year, with a significant decline in tech transfer and CMO product revenue by 53%.
- Higher expenses were reported due to increased R&D, employee costs, and continued high costs at Cenexi.
- The company's milestone revenue was lower than expected, impacting overall revenue growth.
- Despite improvements, Cenexi's gross margin has been trending lower, attributed to product mix and production during the shutdown.
Good day and welcome to the Gland Pharma Limited Q2 FY26 earnings conference call. (Operator Instructions)
I now hand the conference over to Mr. Shriniwas from the Investor Relations team. Thank you and over to you, sir.
Thank you, Rayo. Good evening, everyone. We welcome you to the Gland Pharma earnings conference call for Q2 of FY26. I am Shriniwas Dange from the Investor Relations team at Gland Pharma. Today, we have Mr. Srinivas Sadu, Executive Chairman; Mr. Shyamakant Giri, Chief Executive Officer; Mr. Ravi Mitra, Chief Financial Officer from India office; and Mr. AlaIn, CEO of Cenexi, who is connected virtually from France.
We will begin the call with the business highlights from Mr. Sadu, followed by operational highlights from Mr. Giri. This will be taken up by updates about Cenexi from Mr. Alain. And lastly, the group financial overview by Mr. Ravi.
Before we proceed, I would like to remind everyone that some of the statements made today will be forward-looking and are based on
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