Gland Pharma Limited has released the transcript of its Earnings Call for the third quarter of Fiscal Year 2026 (Q3 FY26), which was held on January 28, 2026. The transcript is available on the company's website. During the call, management reported strong performance for Q3 FY26, with revenues growing 22% year-on-year to INR 16,954 million (approximately ₹1695.4 crore) and adjusted EBITDA increasing by 25% to INR 4,490 million (approximately ₹449 crore). For the first nine months of FY26, revenues grew by 12% and adjusted EBITDA increased by 26%. The company highlighted broad-based growth across its businesses, including a significant turnaround at Cenexi, which met its quarterly sales target of EUR 50 million. Strategic focus areas include expanding cartridge fill and finish capacity from 40 million to 140 million units, with planned investments of approximately INR 2,000 crore over the next five years primarily towards BFS and ophthalmic lines, as well as CDMO contracts. R&D investments were 5.4% of revenues in the quarter, focusing on complex injectables and advanced delivery systems. The company filed nine ANDAs, received four approvals, and launched ten new products in the U.S. The RTU bags portfolio is also scaling, with an estimated market opportunity of $685 million. Cenexi's turnaround strategy is gaining momentum, with revenues at EUR 50 million and EBITDA at EUR 1.4 million for Q3 FY26, meeting guidance. Investments are planned for new capacity at Cenexi's sites, including a new high-capacity ampoule line at Fontenay by 2027 and a new vial and combo line at Braine in 2026. The company is focused on building Gland Pharma into a high-end, innovation-led CDMO and specialty injectables company, emphasizing growth, capability, efficiency, and Return on Capital Employed (RoCE).
