Q1 2027 GlaxoSmithKline Pharmaceuticals Ltd Earnings Call Transcript
Key Points
- Strong Q1 FY2027 performance with sales up 15% year-on-year to INR924 crores, exceeding market growth.
- EBITDA grew 17% with margin expansion of 50 basis points, while PAT increased 24% to INR253 crores.
- Innovation portfolio contribution nearly doubled to 7% of total revenues, driving 4 percentage points of headline growth.
- Shingrix adult vaccine delivered 65% growth, with over 45,000-50,000 doses sold quarterly, crossing INR100 crores on a MAT basis.
- Oncology portfolio (Zejula and Jemperli) touched over 260-270 patients in Q1, with plans to launch Blenrep for multiple myeloma within 2-3 months.
- Headline growth was boosted by a favorable base effect from last year's CMO supply disruptions, with sustainable growth estimated at 9-10%.
- Opex increased 36% year-on-year due to front-loaded investments in HCP events and marketing, though expected to moderate in subsequent quarters.
- Rupee depreciation led to hardening of costs on imported purchases, partially offsetting gross margin gains.
- Supply chain issues from a CMO incident last year impacted Calpol sales, though the worst is behind and recovery is underway.
- The company faces challenges in creating new categories like adult vaccination and RSV prevention, requiring significant investment and time to build awareness.
Hi, good evening, everyone. This is Dorwin Dias, your moderator from Chorus Call. Welcome to the GlaxoSmithKline Pharmaceuticals Limited Q1 FY 2027 Earnings Call.
From the management at GlaxoSmithKline Pharmaceuticals Limited, we have Mr. Bhushan Akshikar, Managing Director, GlaxoSmithKline Pharmaceuticals Limited, and Mr. Ronojit Biswas, Chief Financial Officer, GlaxoSmithKline Pharmaceuticals Limited.By participating in this event, you consent to the recording, distribution, and publication of this event. Kindly note that this call is meant for investors and analysts only.
[Operator Instructions]
And there will be an opportunity for you to ask questions after the presentation from the management concludes. I now hand the conference over to Mr. Bhushan Akshikar. Thank you, and over to you, sir.
Thank you very much, Dorwin, as always. I once again thank each one of you for joining us on this call. Just over a month ago, we had our 101st AGM,
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