External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>Pharmaceuticals: We expect pharmaceutical companies under our coverage to deliver a subdued yet positive performance in Q2FY27, with aggregate revenue rising 7.0% YoY and 3.6% QoQ to Rs 40,903 Cr.</li><li>However, EBITDA is estimated to decline 10% YoY but rise 6.3% QoQ to Rs 8,308 Cr, while adjusted PAT is likely to decline 19.6% YoY but moderately rise by 4.2% sequentially to Rs 4,331 Cr.</li><li>According to IQVIA data, chronic care segments such as cardiovascular and antidiabetic treatments are sustaining their outperformance against the broader Indian Pharmaceutical Market. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pharmaceuticals: We expect pharmaceutical companies under our coverage to deliver a subdued yet positive performance in Q2FY27, with aggregate revenue rising 7.0% YoY and 3.6% QoQ to Rs 40,903 Cr.However, EBITDA is estimated to decline 10% YoY but rise 6.3% QoQ to Rs 8,308 Cr, while adjusted PAT is likely to decline 19.6% YoY but moderately rise by 4.2% sequentially to Rs 4,331 Cr.According to IQVIA data, chronic care segments such as cardiovascular and antidiabetic treatments are sustaining their outperformance against the broader Indian Pharmaceutical Market. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pharma and Healthcare - Q2FY27E: Result Preview

Equity Bottom-Up

<ul><li>Strong Core: The base business reported revenue of Rs 1,800 Cr, demonstrating resilience, with growth supported by new launches such as Dalbavancin.</li><li>Consolidated company revenue grew 19.6% YoY, driven by strong US volume growth, partially offset by ROW delays.</li><li>Adjusted EBITDA margin for the group stood at ~28%. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Strong Core: The base business reported revenue of Rs 1,800 Cr, demonstrating resilience, with growth supported by new launches such as Dalbavancin.Consolidated company revenue grew 19.6% YoY, driven by strong US volume growth, partially offset by ROW delays.Adjusted EBITDA margin for the group stood at ~28%. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Gland Pharma Ltd - Visible Turnaround in Cenexi with Strong Base

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Nimish Maheshwari

Market & Forensics Analyst

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Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

<ul>
<li>Gland Pharma posted a record Q4 FY26 with revenue up 22% and adjusted PAT up 97% YoY, powered by CDMO and a turning-profitable Cenexi.</li>
<li>CDMO now contributes 46% of quarterly revenue at 36% growth, shifting Gland from a US-generics price-taker toward a higher-margin, stickier outsourcing model.</li>
<li>With the stock trading near 36 to 41 times earnings, the next two to three quarters of execution will decide whether this rerating holds.</li>
</ul>


Gland Pharma posted a record Q4 FY26 with revenue up 22% and adjusted PAT up 97% YoY, powered by CDMO and a turning-profitable Cenexi.
CDMO now contributes 46% of quarterly revenue at 36% growth, shifting Gland from a US-generics price-taker toward a higher-margin, stickier outsourcing model.
With the stock trading near 36 to 41 times earnings, the next two to three quarters of execution will decide whether this rerating holds.


Gland Pharma: The CDMO Growth Engine Takes the Steering Wheel

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

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Research Reinvented

<ul>
 <li>Gland Pharma is a leading global pure-play generic injectables manufacturer with a primary B2B business model, focusing on partnerships with major pharmaceutical companies worldwide.</li>
 <li>The company is strategically shifting towards higher-margin complex injectables, including peptides, long-acting formulations, and biosimilars, to drive future growth and improve profitability.</li>
 <li>Recent financial performance shows a strong rebound, with significant year-on-year growth in revenue and net profit, driven by new product launches, capacity expansion, and improved operational efficiency.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  Gland Pharma is a leading global pure-play generic injectables manufacturer with a primary B2B business model, focusing on partnerships with major pharmaceutical companies worldwide.
  The company is strategically shifting towards higher-margin complex injectables, including peptides, long-acting formulations, and biosimilars, to drive future growth and improve profitability.
  Recent financial performance shows a strong rebound, with significant year-on-year growth in revenue and net profit, driven by new product launches, capacity expansion, and improved operational efficiency.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Gland Pharma Ltd (GLAND IN) - Aug 2026

<ul><li>Strong Core: The base business reported revenue of Rs 1,179 Cr, demonstrating resilience, with growth supported by new launches like Doxycycline.</li><li>Base business revenue grew 16.5% YoY, driven by ~19% volume growth, partially offset by price erosion. Adjusted EBITDA margins for the base business stood at ~37%.</li><li>Cenexi Turnaround Gaining Traction: Turnaround at Cenexi is clearly visible, with Q3FY26 marking its highest-ever quarterly performance. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Strong Core: The base business reported revenue of Rs 1,179 Cr, demonstrating resilience, with growth supported by new launches like Doxycycline.Base business revenue grew 16.5% YoY, driven by ~19% volume growth, partially offset by price erosion. Adjusted EBITDA margins for the base business stood at ~37%.Cenexi Turnaround Gaining Traction: Turnaround at Cenexi is clearly visible, with Q3FY26 marking its highest-ever quarterly performance. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India

Gland Pharma is a leading pharmaceutical company specializing in the manufacturing and marketing of complex injectables, operating primarily under a business-to-business (B2B) model. The company provides contract development and manufacturing organization (CDMO) services and out-licenses its generic injectable portfolio globally. Headquartered in Hyderabad, India, it was founded in 1978.

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Gland Pharma (GLAND IN)

Pharma and Healthcare - Q2FY27E: Result Preview

We expect pharmaceutical companies under our coverage to deliver a subdued yet positive performance in Q2FY27, with aggregate revenue rising 7.0%...

Axis Direct

Gland Pharma Ltd - Visible Turnaround in Cenexi with Strong Base

Strong Core: The base business reported revenue of Rs 1,800 Cr, demonstrating resilience, with growth supported by new launches such as Dalbavancin.

Axis Direct

Gland Pharma: The CDMO Growth Engine Takes the Steering Wheel

Gland Pharma's strong Q4 performance driven by CDMO and profitable Cenexi, shifting towards higher-margin outsourcing model. Stock valuation...

Nimish Maheshwari

Primer: Gland Pharma Ltd (GLAND IN) - Aug 2026

Gland Pharma is a leading global pure-play generic injectables manufacturer with a primary B2B business model, focusing on partnerships with...

αSK Primers

Gland Pharma Ltd - Visible Turnaround in Cenexi with Strong Base

Strong Core: The base business reported revenue of Rs 1,179 Cr, demonstrating resilience, with growth supported by new launches like Doxycycline.

Axis Direct

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Pharma and Healthcare - Q2FY27E: Result Preview

We expect pharmaceutical companies under our coverage to deliver a subdued yet positive performance in Q2FY27, with aggregate revenue rising 7.0%...

Axis Direct

Gland Pharma Ltd - Visible Turnaround in Cenexi with Strong Base

Strong Core: The base business reported revenue of Rs 1,800 Cr, demonstrating resilience, with growth supported by new launches such as Dalbavancin.

Axis Direct

Gland Pharma: The CDMO Growth Engine Takes the Steering Wheel

​Gland Pharma's strong Q4 performance driven by CDMO and profitable Cenexi, shifting towards higher-margin outsourcing model. Stock valuation...

Nimish Maheshwari

Primer: Gland Pharma Ltd (GLAND IN) - Aug 2026

Gland Pharma is a leading global pure-play generic injectables manufacturer with a primary B2B business model, focusing on partnerships with...

αSK Primers

Gland Pharma Ltd - Visible Turnaround in Cenexi with Strong Base

Strong Core: The base business reported revenue of Rs 1,179 Cr, demonstrating resilience, with growth supported by new launches like Doxycycline.

Axis Direct

Gland Pharma's strong Q4 performance driven by CDMO and profitable Cenexi, shifting towards higher-margin outsourcing model. Stock valuation...