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What is the story about?
Shares of Glenmark Pharma Ltd. will be in focus on Sunday, February 1, as the company informed the exchanges about a search and seizure operations by authorities during the final days of January. The stock will also be reacting to its December quarter results reported after market hours on Friday.
In an exchange filing on Sunday, Glenmark said that there was a search and seizure / investigation operation conducted by the Goods & Services Tax Department, Mumbai, Maharashtra at the company's offices between January 27, 2026 and January 31, 2026.
Glenmark went on to add that it has provided all necessary documents, clarifications and details as requested and no official document has been issued with regards to any adverse findings. "There is no material impact on the company's financials, operations or any other activity due to the said inspection," it added.
For the December quarter, Glenmark's numbers improved from last year led by the India and North America businesses.
Revenue for the quarter grew by 15.1% from last year to ₹3,900.6 crore, while its Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter saw a 44.9% jump from the year-ago period to ₹869.7 crore.
EBITDA margin expanded by over 450 basis points to 22.3% from 17.7% last year.
The company's India business grew by 22% from last year, while North America grew by 24%, aided by licensing income from ISB 2001. Sequential results are not comparable due to the ISB 2001 licensing.
Shares of Glenmark Pharma had ended 2% higher last Friday at ₹2,026.1. The stock has risen 43% over the last one year.
In an exchange filing on Sunday, Glenmark said that there was a search and seizure / investigation operation conducted by the Goods & Services Tax Department, Mumbai, Maharashtra at the company's offices between January 27, 2026 and January 31, 2026.
Glenmark went on to add that it has provided all necessary documents, clarifications and details as requested and no official document has been issued with regards to any adverse findings. "There is no material impact on the company's financials, operations or any other activity due to the said inspection," it added.
For the December quarter, Glenmark's numbers improved from last year led by the India and North America businesses.
Revenue for the quarter grew by 15.1% from last year to ₹3,900.6 crore, while its Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter saw a 44.9% jump from the year-ago period to ₹869.7 crore.
EBITDA margin expanded by over 450 basis points to 22.3% from 17.7% last year.
The company's India business grew by 22% from last year, while North America grew by 24%, aided by licensing income from ISB 2001. Sequential results are not comparable due to the ISB 2001 licensing.
Shares of Glenmark Pharma had ended 2% higher last Friday at ₹2,026.1. The stock has risen 43% over the last one year.
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