:::LALKAR GROUP::::

Profit before tax (PBT) surged 104.7% YoY to Rs 967.40 crore in Q2 FY26.

EBITDA was Rs 2,359.6 crore in the quarter ended September 30, 2025, as compared to Rs 601.9 crore in the corresponding quarter of the previous year, registering growth of 292% and an EBITDA margin of 39%.

In India, sales from the formulation business in Q2 FY26 were at Rs 165 crore as against Rs 1,281.7 crore posted in the previous corresponding quarter, recording a decline of 87.1%

The North America business recorded sales of Rs 4,465.6 crore for the second quarter of FY26 as against revenue of Rs 740.5 crore for the second quarter of FY25.

Glenmark Europe's operations revenue for the second quarter of FY26 was Rs 746.0 crore as against Rs 687.4 crore and recorded a growth of 8.5% YoY. The company continues to focus on sustaining the increasing contribution from the branded markets / portfolio in Europe.

For the second quarter of FY 2026, revenue from emerging markets was Rs 658.5 crore as against Rs 704.1 crore for the previous corresponding quarter, recording a decline of 6.5% YoY.

Glenn Saldanha, chairman & managing director, Glenmark Pharmaceuticals, said, 'Q2FY26 reflects the steady progress we are making in strengthening Glenmark's scientific and strategic foundation. The AbbVie partnership for ISB 2001, along with the income recognised this quarter, is a significant validation of our scientific strength and enables us to advance the pipeline in a financially self-sustaining way.

Across key markets, our performance remained resilient. North America delivered a continued uptick in performance, supported by the expansion of our injectable portfolio and steady execution across institutional channels. Europe returned to its growth trajectory, backed by recent product launches. In India, GST-related adjustments, given our unique three-tiered distribution model, had a one-time impact on primary sales; however secondary sales continue to outperform IPM, and we expect reported growth to normalize from Q3 onwards.

Our specialty and innovation businesses progressed several important milestones this quarter including the global expansion of Ryaltris, the UK launch of Winlevi, the regulatory and clinical milestones achieved for QiNHAYOTM, and our IGI oncology assets. We remain committed to disciplined execution, advancing meaningful science, and delivering sustained value for our patients, partners, and all stakeholders.'

Glenmark Pharmaceuticals is engaged in the business of development, manufacturing and marketing of pharmaceutical products both formulation and active pharmaceuticals ingredient to regulated and semi-regulated markets.

The scrip advanced 1.12% to settle at Rs 1,897.50 on the BSE.