Glenmark Q2 revenue beats estimates as net profit falls 56.7% year on year

what happened

Glenmark Pharmaceuticals reported results for the September quarter of fiscal 2026/27 (Q2FY27), according to TradingView. Consolidated net profit dropped 56.7% year on year to ₹264 crore from ₹610 crore a year earlier. Revenue fell 29.8% to ₹4,247.3 crore, yet came in above analyst estimates. EBITDA declined 63.4% to ₹864 crore, and the margin narrowed to 20% from 39%, in line with expectations.

North American revenue slumped 72.9% to ₹1,208.9 crore. In dollar terms, US sales reached $126.6 million against an estimated $105 million. The company said the quarter included recognition of deferred out-licensing income for ISB 2001. Excluding that item, the core regional business grew 31%. India revenue rose 704.2%, while on a like-for-like basis the India formulation business grew about 14%. Europe revenue increased 6.2% to ₹792 crore, and Emerging Markets revenue rose 33.2% to ₹876.9 crore.

On Thursday, November 5, Glenmark shares closed 0.91% lower at ₹2,481.80. The stock has gained over 22% so far in 2026.

why it matters

The key question for investors is the gap between top-line and bottom-line performance. The sharp margin decline and weakness in North America point to pressure on profitability, while the revenue beat lowers the risk of disappointment on sales. Market reaction will likely hinge on whether growth holds up without one-off items.

market impact

Glenmark shares: revenue beat versus a sharp profit and margin drop creates mixed pressure

• ↔Glenmark Pharmaceuticals shares mixed — revenue beat estimates, but profit and EBITDA fell sharply

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