Record rally in Gland Pharma shares after Q4 results - Buy, sell or hold? Target price
Shares of Gland Pharma surged more than 16 per cent during the trading session on Monday after the company reported a strong set of performance in the March 2026 quarter.
- May 18, 2026,
- Updated May 18, 2026 11:22 AM IST
Shares of Gland Pharma surged more than 16 per cent during the trading session on Monday after the company reported a strong set of performance in the March 2026 quarter. While investors have turned their shift to the defensive like pharma stocks, brokerage firms remain positive on the stock suggesting more upside left in the counter.
Shares of Gland Pharma Ltd surged 16.22 per cent to Rs 2,170 on Monday, hitting its 52-week high, commanding a total market capitalization of little more than 35,000 crore. Shares of Gland Pharma have gained 133 per cent in the last three years, while the stock has gained nearly 50 per cent in the last one year.
Gland Pharma Q4 results For the quarter ended on March 31, 2026, Gland Pharma reported a 96.6 per cent year-on-year (YoY) jump in the net profit at Rs 186.5 crore, while revenue from operation improved 22 per cent YoY to Rs 1,743 crore. Ebitda came in at Rs 513 crore, up 48 per cent YoY with margins improving to 29.4 per cent for the quarter. It announced a final dividend of Rs 20 per share.
The CDMO segment proved to be a major growth engine, contributing 25 per cent of total revenues and growing 65 per cent on a yearly comparison Favorable product mix and cost-efficiency initiatives helped the base business achieve an adjusted Ebitda margin of 38 per cent.
Gland Pharma target price Gland Pharma reported Q4FY26 better than our expectations. Revenue was in line with our estimates, while better margin meant Ebitda came 16 per cent ahead of our estimates. PAT was 32 per cent ahead of our estimates, helped by higher other income. After five consecutive quarters of lackluster performance, Q3FY26 had shown signs of pickup in growth; momentum further picked up in Q4, said Elara Capital.
The regulated markets business benefitted from new complex product launches and new contracts in old products. Cenexi’s Ebitda remains positive despite posting lower top-line QoQ. Management’s topline guidance of 12-13 per constant-currency top-line growth in FY27 is in line with our expectations; we find exCenexi EBITDA margin guidance of 33-35 per cent to be conservative," it added with a 'buy' and a target price of Rs 2,306.
Gland Pharma exhibited better-than-expected financial performance. Product launches led to an all-time high revenue in the core markets of Gland. The Europe segment witnessed a healthy scale-up in inactivated vaccine and sterile ophthalmic gel, driving revenue for the quarter, said Motilal Oswal Financial Services.
"We raise our earnings estimate by 8-10 per cent for FY27/FY28, factoring in a healthy pace of product launches in core markets and improvement in profitability of the Cenexi business, and c) currency depreciation tailwinds. We arrive at a target price of Rs 2,300. We expect a 19 per cent earnings CAGR over FY26-28 on the back of a complex product pipeline comprising injectables," it said with a 'buy' tag.
Gland Pharma’s Q4FY26 performance exceeded expectations on all fronts. Base biz revenue grew a solid 22.4 per cent YoY, while Ebitda margin zoomed up 193bps YoY to a record 40.2 per cent. Growth in base biz was driven by new launches in the US and currency benefits, said ICICI Securities which has a 'buy' rating on the stock with a target price of Rs 2,365.
"Management guides for cc growth of 12-13 per cent for base biz with stable margins. Margins of Cenexi are expected to scale to mid single digits, with revenue reaching EUR 200mn in FY27. Gland now has eight customers for GLP-1 and its fill-finish capacity has scaled up to 140mn. In the next couple of years, it will utilise 30-40mn of this fill-finish capacity, with optimum levels reached by CY30," it said.
Shares of Gland Pharma surged more than 16 per cent during the trading session on Monday after the company reported a strong set of performance in the March 2026 quarter. While investors have turned their shift to the defensive like pharma stocks, brokerage firms remain positive on the stock suggesting more upside left in the counter.
Shares of Gland Pharma Ltd surged 16.22 per cent to Rs 2,170 on Monday, hitting its 52-week high, commanding a total market capitalization of little more than 35,000 crore. Shares of Gland Pharma have gained 133 per cent in the last three years, while the stock has gained nearly 50 per cent in the last one year.
Gland Pharma Q4 results For the quarter ended on March 31, 2026, Gland Pharma reported a 96.6 per cent year-on-year (YoY) jump in the net profit at Rs 186.5 crore, while revenue from operation improved 22 per cent YoY to Rs 1,743 crore. Ebitda came in at Rs 513 crore, up 48 per cent YoY with margins improving to 29.4 per cent for the quarter. It announced a final dividend of Rs 20 per share.
The CDMO segment proved to be a major growth engine, contributing 25 per cent of total revenues and growing 65 per cent on a yearly comparison Favorable product mix and cost-efficiency initiatives helped the base business achieve an adjusted Ebitda margin of 38 per cent.
Gland Pharma target price Gland Pharma reported Q4FY26 better than our expectations. Revenue was in line with our estimates, while better margin meant Ebitda came 16 per cent ahead of our estimates. PAT was 32 per cent ahead of our estimates, helped by higher other income. After five consecutive quarters of lackluster performance, Q3FY26 had shown signs of pickup in growth; momentum further picked up in Q4, said Elara Capital.
The regulated markets business benefitted from new complex product launches and new contracts in old products. Cenexi’s Ebitda remains positive despite posting lower top-line QoQ. Management’s topline guidance of 12-13 per constant-currency top-line growth in FY27 is in line with our expectations; we find exCenexi EBITDA margin guidance of 33-35 per cent to be conservative," it added with a 'buy' and a target price of Rs 2,306.
Gland Pharma exhibited better-than-expected financial performance. Product launches led to an all-time high revenue in the core markets of Gland. The Europe segment witnessed a healthy scale-up in inactivated vaccine and sterile ophthalmic gel, driving revenue for the quarter, said Motilal Oswal Financial Services.
"We raise our earnings estimate by 8-10 per cent for FY27/FY28, factoring in a healthy pace of product launches in core markets and improvement in profitability of the Cenexi business, and c) currency depreciation tailwinds. We arrive at a target price of Rs 2,300. We expect a 19 per cent earnings CAGR over FY26-28 on the back of a complex product pipeline comprising injectables," it said with a 'buy' tag.
Gland Pharma’s Q4FY26 performance exceeded expectations on all fronts. Base biz revenue grew a solid 22.4 per cent YoY, while Ebitda margin zoomed up 193bps YoY to a record 40.2 per cent. Growth in base biz was driven by new launches in the US and currency benefits, said ICICI Securities which has a 'buy' rating on the stock with a target price of Rs 2,365.
"Management guides for cc growth of 12-13 per cent for base biz with stable margins. Margins of Cenexi are expected to scale to mid single digits, with revenue reaching EUR 200mn in FY27. Gland now has eight customers for GLP-1 and its fill-finish capacity has scaled up to 140mn. In the next couple of years, it will utilise 30-40mn of this fill-finish capacity, with optimum levels reached by CY30," it said.