"Glenmark’s profit jumps 72% — but is it real growth or just a payout illusion?"

📊 Q2 FY26 Financial Highlights - Net Profit: ₹610 crore, up 72.2% YoY, but largely due to AbbVie’s ₹3,670 crore licensing payout - Revenue: ₹6,047 crore, up 76.6% YoY, but core revenue (excluding payout) fell 30.8% YoY to ₹2,380 crore - EBITDA: ₹2,359.6 crore, up 292% YoY; margin at 39% - EPS: ₹21.62 vs ₹12.69 YoY ⚠️ Investor Watchouts - One-Time Boost: Profit surge is non-recurring; underlying business posted an operational loss of ₹870 crore - India Business Hit: Domestic formulations revenue plunged 87.1% YoY to ₹160 crore due to GST 2.0 transition - Inventory Disruption: Distributor destocking and compliance adjustments weighed heavily on Q2 performance 📈 Stock Impact & Technical Levels - Current Price: ₹1,895.60 (↑ ₹15 / +0.80%) - Support Zone: ₹1,850–₹1,820 (recent base and psychological level) - Resistance Zone: ₹1,920–₹1,950 (recent highs and breakout zone) - Short-Term View: Volatile; watch for sustainability of gains beyond AbbVie windfall 🚀 Future Growth & Strategic Planning - AbbVie Partnership: Licensing of investigational asset ISB 2001 validates Glenmark’s innovation pipeline - US & Europe Growth: North America sales rose to ₹4,465 crore (vs ₹740 crore YoY); Europe up 8.5% YoY - India Recovery Expected: Management expects normalization from Q3 as GST transition stabilizes