Glenmark Pharma shares in focus as Q1 profit slumps 86% YoY
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Shares of drugmaker Glenmark Pharma will be in focus on Monday after the company reported an 86% year-on-year (YoY) decline in consolidated net profit for the first quarter of FY26, even as revenue remained largely flat and the North America business showed signs of recovery.Glenmark reported a consolidated net profit of Rs 46.87 crore for the June quarter, compared with Rs 340.27 crore in the same period last year. Sequentially, however, profit rose sharply from Rs 4.65 crore in Q4FY25.Revenue for the quarter inched up 0.6% to Rs 3,264 crore, against Rs 3,244 crore a year earlier. Operating performance weakened, with EBITDA slipping 1.4% to Rs 580 crore versus Rs 588.2 crore in Q1FY25. The EBITDA margin narrowed to 17.7% from 18.1% a year ago.In India, sales from the formulations business rose 3.7% YoY to Rs 1,239.9 crore. In North America, revenue climbed 8.9% sequentially to Rs 778 crore, supported by injectable launches and partnered products.Revenue from emerging markets—including RCIS, LATAM, MEA and APAC—was steady at Rs 572.1 crore versus Rs 570.8 crore last year, with the company maintaining its double-digit growth outlook on a constant currency basis.In Europe, revenue fell 4% to Rs 667.8 crore in the June quarter, down from Rs 695.7 crore a year ago.As of June 2025, Glenmark had filed marketing applications for its Ryaltris nasal spray in over 90 countries, with commercialisation in more than 45 markets. Launches in 10–12 additional markets are expected in the coming quarters.The company has also filed for oncology drug QiNHAYO (envafolimab) in about 15 markets during FY25, with the first launch planned in FY26. Meanwhile, in partnership with Cosmo, Glenmark received approval from the UK's Medicines and Healthcare Products Regulatory Agency to market Winlevi, an acne treatment. Winlevi has already been launched in the UK, with further European approvals anticipated by the end of FY26.The results were announced after market hours on Thursday, August 14. Glenmark shares closed at Rs 2,038.95 on the BSE, up 0.35% from the previous day.
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