GlaxoSmithKline Pharmaceuticals Limited delivered strong financial performance in Q3 FY26, with revenue crossing the ₹1000 crore milestone and reaching ₹102259 lakhs (₹1022.59 crores), representing an 8.1% growth. The pharmaceutical major demonstrated robust profitability with Profit After Tax of ₹27718 lakhs (₹277.18 crores) and significant margin expansion.

Official Financial Results Declaration

The company announced its Q3 FY26 quarterly results for the third quarter ended 31st December 2025 under Regulation 33 of SEBI LODR Regulations. The Board of Directors approved the unaudited standalone and consolidated financial results at their meeting held on 9th February 2026, which commenced at 1:30 PM and concluded at 3:15 PM.

Standalone Financial Performance Highlights

The company's standalone financial metrics showed impressive improvement across key parameters during the third quarter:

The company demonstrated strong operational efficiency with total expenses of ₹67652 lakhs against total income of ₹105441 lakhs, resulting in a healthy profit margin.

Consolidated Financial Performance

On a consolidated basis, the company reported even stronger performance including its subsidiary Biddle Sawyer Limited:

The consolidated results benefited from exceptional items credit of ₹1798 lakhs, which included ₹264 lakhs from profit on sale of surplus residential properties and ₹1798 lakhs from sale of non-operational land site.

Labour Code Impact and Regulatory Changes

The implementation of New Labour Codes resulted in a one-off impact of ₹1182 lakhs during the quarter. The Government of India notified four Labour Codes on November 21, 2025, consolidating 29 existing labour laws. The incremental impact primarily arises due to change in wage definition, with the company continuing to monitor finalisation of Central and State Rules.

Nine Months Performance Overview

For the nine months ended 31st December 2025, the company showed consistent growth trajectory:

Auditor Review and Compliance

The financial results were reviewed by Deloitte Haskins & Sells LLP, with Partner Rajiv Shah signing off on both standalone and consolidated results. The statutory auditors carried out a limited review of the financial results in accordance with Standard on Review Engagements (SRE) 2410, confirming compliance with Indian Accounting Standards and SEBI regulations.

GlaxoSmithKline Pharmaceuticals Limited has informed stock exchanges about receiving a GST demand order from Maharashtra State GST authorities. The pharmaceutical company disclosed this development under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015.

GST Demand Order Details

The company received an order dated December 31, 2025, from the Assistant Commissioner of State Tax, Mumbai, Maharashtra, pertaining to FY 2021-22. The comprehensive breakdown of the demand order is presented below:

Nature of Violation

The GST authorities have raised the demand in relation to GST credit-related issues. Specifically, the order addresses mismatches between the company's GST returns and the details reported by its suppliers. This type of discrepancy is a common area of scrutiny by tax authorities during GST assessments.

Company's Response and Impact Assessment

GlaxoSmithKline Pharmaceuticals has clarified that the demand order will have no impact on the company's financial operations. The management is currently evaluating the demand order and has indicated that it will take appropriate actions in due course. This suggests the company may consider filing an appeal or providing additional documentation to address the authorities' concerns.

Regulatory Compliance

The disclosure was made on January 1, 2026, following the company's receipt of the order on December 31, 2025. This timely disclosure demonstrates the company's commitment to maintaining transparency with stakeholders and adhering to regulatory requirements under SEBI guidelines.

The company's proactive approach to addressing the GST demand order reflects its commitment to resolving tax-related matters while ensuring minimal disruption to its business operations.