Gland Pharma misses profit estimates despite in-line revenue; outlook steady with limited-competition launches ahead

Gland Pharma (GLAND) reported in-line revenue performance in Q2FY26, though EBITDA and PAT missed estimates by 9% and 11%, respectively. The shortfall was primarily due to a lower share of milestone income and a decline in tech transfer/CMO business from ROW markets. Management remains confident of growth in 2HFY26 and FY27, supported by a pipeline of limited-competition products and improving traction in base business. StockYard Research has trimmed FY26 earnings estimates by 3% while maintaining FY27–28 projections, valuing the stock at 33x 12M forward earnings with a target price of INR 2,310. #GlandPharma #Q2Results #EarningsUpdate #PharmaStocks #EBITDAMiss #StockMarket #Healthcare #LimitedCompetition #StockYardResearch #GLAND