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Manufactures complex generic injectable drugs for hospitals and pharma companies worldwide, majority-owned by China's Fosun Pharma.
Manufactures complex generic injectable drugs for hospitals and pharma companies worldwide, majority-owned by China's Fosun Pharma.
Makes sterile injectable drugs both for partner companies that sell them under their own labels and under its own filings, and most sales go to regulated markets, with the United States the largest. It widened its contract-manufacturing side by buying Cenexi, a French contract manufacturer.
In one line: India's Fresenius Kabi/Hikma of injectables.
Moat: narrow (regulatory licence, process know-how). US FDA-approved sterile injectable manufacturing facilities are costly and slow for rivals to replicate.
Headquarters: Hyderabad, India · Founded: 1978 · Employees: 4,332
Size Gland Pharma (GLAND.NS) is an India Health Care company (Pharmaceuticals: Major) with a market value of $5.53B, the 199th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹3,169 on 6 Nov 2026.
Performance Over six months the shares gained 69.4%, against -2.9% for the median peer and 0.0% for the India market (cap-weighted) — highest of 19 in its peer set.
Growth Revenue grew 17.6% over the last twelve months (peer median +10.6%); the operating margin is 19.6% (peer median 17.4%).
Valuation It trades at 39.0× forward earnings against a peer median of 28.0× (3rd most expensive of 16).
Price implies For today's price to make sense, revenue must grow about 28% a year for seven years (Req g). Recent delivered growth is +13%, so the hurdle is +15 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 0.2 points above its cost of capital (9.3% WACC).
Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹67.3B | ₹64.0B | ₹55.9B | ₹56.4B | ₹36.1B |
| Revenue growth | — | +15% | -1% | +56% | — |
| Gross profit | ₹20.7B | ₹16.3B | ₹12.6B | ₹13.8B | ₹11.0B |
| EBITDA | ₹17.5B | ₹16.6B | ₹12.8B | ₹13.4B | ₹10.3B |
| Net income | ₹11.3B | ₹10.3B | ₹6.99B | ₹7.72B | ₹7.81B |
| Free cash flow | n/a | ₹7.41B | ₹6.56B | ₹7.18B | ₹2.97B |
| Capital expenditure | n/a | ₹4.94B | ₹3.94B | ₹3.98B | ₹2.23B |
| Total debt | n/a | ₹2.84B | ₹3.14B | ₹3.72B | ₹44.5M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Gland Pharma GLAND.NS | $5.53B | +69% | +18% | 20% | 39.0× | 28.0% |
| Hikma Pharmaceuticals HIK.L | $4.59B | +18% | +2% | 20% | 9.9× | 1.4% |
| Sun Pharmaceutical Industries SUNPHARMA.NS | $47.3B | +1% | +12% | 23% | 35.4× | 28.4% |
| Piramal Pharma PPLPHARMA.NS | $3.37B | +30% | +9% | 3% | 159.9× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | GLAND.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.6% | +1.4% | 8th lowest of 20 |
| 6-month return | +69.4% | -2.9% | highest of 19 |
| Distance from 52-week high | -1.2% | -27.9% | highest of 21 |
| Revenue growth (TTM) | +17.6% | +10.6% | 5th highest of 17 |
| Operating margin | 19.6% | 17.4% | 9th highest of 18 |
| Forward P/E | 39.0× | 28.0× | 3rd most expensive of 16 |
| Growth the price implies (Req g, 7 yrs) | 28.0% | 8.0% | 3rd most demanding of 14 |
| Growth delivered (Del g) | +13.3% | +10.0% | 6th highest of 14 |
| Hurdle (Req g minus delivered) | +14.7 pp | -3.2 pp | 3rd most demanding of 14 |
| ROIC minus cost of capital | +0.2 pp | +1.7 pp | 8th lowest of 18 |
| EV / EBITDA | 29.9× | 21.1× | 2nd most expensive of 10 |
| Net debt / EBITDA | -1.8× | 0.6× | 3rd least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Gland Pharma GLAND.NS | India | $5.53B | +69% | +18% | 20% | 39.0× | 28.0% | +13.3% |
| PTC Therapeutics PTCT | United States | $5.47B | -11% | -35% | 22% | 34.8× | 8.0% | +35.4% |
| Apotex Health APTX.TO | Canada | $5.62B | n/a | +4% | 32% | 18.6× | -13.5% | +4.2% |
| Supernus Pharmaceuticals SUPN | United States | $5.43B | -49% | +16% | 45% | 6.7× | 4.2% | +13.9% |
| Veradermics MANE | United States | $5.80B | +31% | n/a | n/a | n/a | n/a | n/a |
| Beijing TongRenTang 600085.SS | China | $5.27B | -8% | -17% | 8% | 31.2× | 2.7% | +6.2% |
| Sumitomo Pharma 4506.T | Japan | $5.23B | +7% | +11% | 10% | 8.3× | 1.4% | -2.6% |
| IPCA Laboratories IPCALAB.NS | India | $5.22B | +24% | +11% | 17% | 32.4× | 17.8% | +12.2% |
| Shanghai Allist Pharmaceuticals 688578.SS | China | $5.90B | -6% | +39% | 47% | 13.8× | 1.8% | +519.6% |
| Shenzhen Salubris Pharmaceuticals 002294.SZ | China | $5.18B | -39% | +14% | 11% | 41.6× | 15.5% | +9.7% |
| Abbott India ABBOTINDIA.NS | India | $5.93B | -1% | +6% | 28% | 32.4× | 11.4% | +10.0% |
| SKBP 326030.KS | South Korea | $5.12B | -11% | +39% | 35% | 21.6× | 0.5% | +93.6% |
| Erasca ERAS | United States | $5.04B | +42% | n/a | n/a | n/a | n/a | n/a |
| Mirum Pharmaceuticals MIRM | United States | $6.12B | -13% | +42% | -21% | n/a | n/a | n/a |
| Ligand Pharmaceuticals LGND | United States | $6.12B | +38% | +1% | 14% | 28.0× | 57.8% | +7.5% |
| Belite Bio, Inc. ADR BLTE | United States | $6.20B | 0% | n/a | n/a | n/a | n/a | n/a |
| Biocon BIOCON.NS | India | $6.28B | -4% | +6% | 8% | 56.4× | n/a | n/a |
| Novast Laboratories 301569.SZ | China | $4.82B | n/a | +3% | 27% | n/a | 42.6% | +3.1% |
| Samsung Epis 0126Z0.KS | South Korea | $6.39B | -36% | n/a | -25% | 24.0× | n/a | n/a |
| Gan & Lee Pharmaceuticals 603087.SS | China | $6.40B | +21% | +14% | 20% | 29.7× | n/a | n/a |
| Travere Therapeutics TVTX | United States | $4.76B | +16% | +49% | -3% | 16.9× | 16.7% | +19.9% |