Established in Hyderabad, India in 1978, Gland Pharma has grown over the years from a contract manufacturer of small volume liquid parenteral products, to become one of the largest and fastest growing injectable-focused companies, with a global footprint across 60 countries, including the United States, Europe, Canada, Australia, India and other markets. We operate primarily under a business to business (B2B) model and have an excellent track record in the development, manufacturing and marketing of complex injectables.
The company specializes in manufacturing and marketing complex injectable formulations, with a comprehensive product portfolio that includes vials, ampoules, pre-filled syringes, lyophilized vials, dry powders, infusions, oncology solutions, and ophthalmic products. The company also pioneered Heparin technology in India. We are promoted by Shanghai Fosun Pharma, a global pharmaceutical major.
As of recent data, Gland Pharma has a market capitalization of 30,778 crore (up 3.09% in 1 year), with revenue of 5,616 crore and profit of 699 crore. Promoter holding stands at 51.8% as of March 2025. The company maintains a strong financial position with the company being almost debt free.
For Q3 FY25, Gland Pharma's consolidated net profit increased 6.67% to Rs 204.70 crore despite 10.42% decline in revenue from operations to Rs 1,384.1 crore in Q3 FY25 over Q3 FY24. The company has shown consistent profitability with net profit jumping 6.69% since last year same period to ₹204.69 crore in the Q3 2024-2025.
Key Financial Metrics:
- Revenue from operations: Rs 1,384.1 crore in Q3 FY25, EBITDA: Rs 360 crore, EBITDA margin: 26% for Q3 FY25
- PAT: Rs 204.7 crore, PAT margin: 15% for Q3 FY25
- Operating revenue of Rs. 5,729.05 crore on a trailing 12-month basis
Gland Pharma is one of the largest and fastest-growing injectable-focused companies, with a global footprint across 60 countries, including the United States, Europe, Canada, Australia, India, and other markets. The company has established manufacturing facilities across multiple locations, with seven different locations in India producing 750 million units with ease.
The United States remains a key market for the company, with US accounting for 53% of the Q3FY24 revenue, while the company has been expanding its presence in Europe and other international markets through strategic acquisitions and partnerships.
The company offers 89+ product SKUs, including vials, ampoules, pre-filled syringes, lyophilized vials, covering various therapeutic segments. The company launched 85 new molecules between FY22 and FY24, and introduced 12 new molecules, including Cetrorelix Acetate, Tranexamic Acid, Eribulin mesylate, Plerixafor, Nelarabine, etc., in the US market during H1 FY25.
The company focuses on complex injectables and has been investing in research and development to expand its product pipeline. Nine filings completed in a targeted portfolio of 19 products, with six of these complex products already approved and launched, targeting an IQVIA market opportunity of $7.3 billion.
Gland Pharma maintains high regulatory standards across its facilities. The company received US FDA Establishment Inspection Report for JNPC facility, Visakhapatnam, with inspection closed successfully in June 2025. The company has successfully concluded US FDA's Good Manufacturing Practices (GMP) inspection at its Pashamylaram facility in Hyderabad and received an Establishment Inspection Report (EIR) from the US FDA for its Dundigal facility.
The company has been pursuing strategic initiatives to expand its market presence and capabilities. During the quarter, Gland entered into a binding term sheet with Dr. Reddy's Laboratories (DRL) to establish strategic cooperation for the biologics CDMO business. This partnership is expected to open new opportunities in the rapidly growing biologics contract development and manufacturing organization (CDMO) segment.
The company completed its first international acquisition, Cenexi, in Europe, marking a significant expansion in the European market. The company continues to focus on complex injectables and biologics as key growth drivers for the future.
The stock is trading at 3.36 times its book value, with the company having a low return on equity of 9.23% over last 3 years. The company has been maintaining a healthy dividend payout of 28.4%, demonstrating commitment to shareholder returns.
The company's strong presence in regulated markets, robust product pipeline, and strategic focus on complex injectables position it well for future growth in the global pharmaceutical market.
