Gland pharma Limited has announced a significant change in its senior management team with the upcoming retirement of Chief Operating Officer Mr. Satnam Singh Loomba. The pharmaceutical company informed stock exchanges about this leadership transition in compliance with regulatory requirements.

Leadership Transition Details

The company has disclosed that Mr. Satnam Singh Loomba will retire from his position as Chief Operating Officer effective March 31, 2026, due to superannuation. This announcement was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Service Tenure and Recognition

Mr. Loomba has been associated with Gland Pharma since May 01, 2024, serving in the capacity of Chief Operating Officer. Despite his relatively short tenure of less than two years, the company has acknowledged his contributions to the organization.

The Board of Directors of the company and the entire Gland Pharma family have placed on record their sincere appreciation for the leadership and contribution of Mr. Satnam Singh Loomba during his service period.

Regulatory Compliance

The announcement demonstrates Gland Pharma's commitment to maintaining transparency with stakeholders and adhering to regulatory requirements. The disclosure was made to both major Indian stock exchanges:

• BSE Limited: Scrip Code 543245
• National Stock Exchange: Symbol GLAND (ISIN: INE068V01023)

The company has provided all necessary details as required under SEBI regulations, ensuring complete compliance with listing obligations and disclosure requirements. This includes comprehensive information about the change in senior management personnel and the circumstances surrounding the retirement.

Corporate Structure

Following Mr. Loomba's retirement, he will cease to hold the position of Senior Management Personnel within the company structure. The pharmaceutical company, headquartered in Hyderabad, Telangana, continues to maintain its operations across multiple facilities in the region.

The announcement was signed by Sampath Kumar Pallerlamudi, Company Secretary and Compliance Officer, demonstrating proper corporate governance procedures in communicating significant organizational changes to stakeholders and regulatory authorities.

Gland Pharma Limited delivered impressive financial results for the third quarter ended December 31, 2025, demonstrating strong operational performance and sustained growth momentum across its global operations. The pharmaceutical company's Board of Directors approved the unaudited financial results at their meeting held on January 28, 2026.

Financial Performance Highlights

The company's consolidated financial performance showed remarkable strength across multiple parameters. Revenue from operations reached ₹16,953.63 million for Q3 FY26, representing a substantial 22% year-on-year increase from ₹13,840.52 million in Q3 FY25. This growth trajectory continued for the nine-month period, with revenues of ₹46,878.60 million compared to ₹41,915.95 million in the corresponding period of the previous year, marking a 12% increase.

Profitability and Margin Expansion

The company demonstrated strong profitability improvements with adjusted EBITDA margins of 26% for Q3 FY26 and 25% for the nine-month period. Adjusted profit before tax (PBT) reached ₹3,865 million in Q3 FY26, showing a 29% year-on-year growth, while the adjusted PBT margin improved to 23% from 22% in the previous year. The company's gross profit margin remained healthy at 66% for the quarter, reflecting efficient cost management and operational leverage.

Exceptional Items and Regulatory Impact

During Q3 FY26, the company recognized an exceptional item of ₹243.46 million related to additional provisions for gratuity and leave liability following the Government of India's notification of four Labour codes on November 21, 2025. These codes consolidate 29 existing Labour Laws, and the company has made appropriate provisions based on draft rules and available information.

Corporate Governance Updates

The Board of Directors approved the reappointment of M/s. Grant Thornton Bharat LLP as Internal Auditors for the financial year 2026-27, effective from April 1, 2026. Grant Thornton Bharat LLP, a member of Grant Thornton International Ltd, is described as a leading professional services firm providing assurance, consulting, tax, risk and digital transformation services across industries and sectors.

Business Development and Market Performance

The company's performance was supported by strong execution across key markets including the US and Europe. Management highlighted double-digit growth in core markets, with Cenexi achieving breakeven and contributing to consolidated performance. The company continues to focus on new product launches, CDMO contract ramp-ups, and operational efficiencies to strengthen its market position in the global injectable pharmaceuticals segment.