🔍

GlaxoSmithKline Pharmaceuticals Limited (GLAXO)

₹2,566.10 +1.64% last close, 16 Oct

📊 NSE: GLAXO 🏢 Pharmaceuticals - Multinational 📢 Latest filing: 13 Oct 2026 📝 Analysis written: 13 Dec 2025

Q2 FY27 results

📅 Next results: 03 Nov 2026 (board meeting)

GlaxoSmithKline Pharmaceuticals Limited's board meets on 3 Nov 2026 to consider its Q2 FY27 results (July-September 2026).

In its latest reported quarter, Q1 FY27, GlaxoSmithKline Pharmaceuticals' revenue was ₹938 Cr (+16.6% year on year, -5.7% on the previous quarter), and net profit ₹237 Cr (+15.7% year on year); the operating margin was 31.5%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹938	+16.6%	-5.7%
Operating profit	₹296	+17.6%	-15.8%
Net profit	₹237	+15.7%	-14.7%
Operating margin	31.5%	—	—

Full quarterly financials → Results calendar →

GLAXO delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 54.68% of the GLAXO shares traded on NSE were taken to delivery, against the stock's own 20-session average of 48.11%. That is close to its usual level.

54.68%Delivery, 16 Oct

48.11%Own 20-session average

0.9×Volume vs its average

₹2,566.10NSE close · +1.64%

Delivery in the last 5 sessions: 39.4% · 45.1% · 44.1% · 57.2% · 54.7%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

GlaxoSmithKline Pharma Files Q2 FY27 Share Capital Audit Report

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 13 Oct 2026, 04:11 PM

GlaxoSmithKline Pharmaceuticals submitted its Reconciliation of Share Capital Audit report for the quarter ended September 30, 2026. The total issued capital stands at 16,94,15,420 shares, of which 16,94,06,034 shares are listed and 9,386 shares remain kept in abeyance. Approximately 99.38% of the company's shares are held in dematerialized form across NSDL (96.10%) and CDSL (3.27%), with 0.62% in physical form. During the quarter, 60,466 shares were transferred to the Investor Education and Protection Fund (IEPF).

Total issued capital is 16,94,15,420 shares, while listed capital stands at 16,94,06,034 shares
Difference of 9,386 shares between issued and listed capital is kept in abeyance
96.10% shares held in NSDL, 3.27% in CDSL, and 0.62% in physical form
60,466 shares transferred to the Investor Education and Protection Fund (IEPF) during the quarter

💡 This is a standard quarterly compliance filing requiring no action from investors. Focus remains on upcoming Q2 FY27 operational earnings performance.

GSK Pharma Submits Q2 FY27 Dematerialisation Certificate Under Regulation 74(5)

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 12 Oct 2026, 04:31 PM

GlaxoSmithKline Pharmaceuticals Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate issued by Registrar and Share Transfer Agent KFin Technologies confirms that all share certificates received for dematerialisation during the period were processed, verified, and cancelled within 30 days. This filing is a standard quarterly administrative requirement with zero financial or operational impact.

Regulation 74(5) compliance submitted for the quarter ended September 30, 2026
Certificate received from Registrar and Share Transfer Agent KFin Technologies Limited dated October 8, 2026
Mutilation and cancellation of dematerialised share certificates confirmed within mandated 30 days

💡 No action required. Investors should track upcoming board meeting announcements for Q2 FY27 financial results.

GSK Pharma Closes Trading Window from Oct 1, 2026 for Q2/H1 FY27 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 25 Sep 2026, 02:42 PM

GlaxoSmithKline Pharmaceuticals Limited has announced the closure of its trading window starting Thursday, October 1, 2026. The window will remain shut until 48 hours after the declaration of its un-audited financial results for the quarter and half-year ended September 30, 2026. The date for the Board Meeting to approve the financial results will be announced separately. This is a mandatory compliance requirement under SEBI Prohibition of Insider Trading Regulations.

Trading window closes effective Thursday, October 1, 2026
Closure applies for the quarter and half-year ended September 30, 2026 results
Trading window to reopen 48 hours after the financial results declaration
Board meeting date for result approval to be intimated in due course

💡 Track the upcoming board meeting intimation date to know when Q2 and H1 FY27 earnings will be reported.

GSK Pharma Shareholders Approve Re-appointment of MD Bhushan Akshikar with 99.71% Votes

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 15 Sep 2026, 12:54 PM

GlaxoSmithKline Pharmaceuticals Limited announced the scrutinizer's report and voting results for its postal ballot conducted via remote e-voting. Shareholders approved the appointment of Ms. Karine J F Natland as Non-Executive Director with 99.71% votes in favour. Additionally, the re-appointment of Mr. Bhushan Akshikar as Managing Director was approved with 99.71% votes in favour. Total voter turnout was approximately 84.67% of total outstanding shares, with full 100% participation from the 75% promoter block.

Re-appointment of Bhushan Akshikar as Managing Director approved with 99.71% votes cast in favour (14,30,25,237 votes)
Appointment of Karine J F Natland as Non-Executive Director approved with 99.71% votes in favour (14,30,66,813 votes)
Overall voter participation stood at 84.67% of outstanding equity shares
Promoter group voted 100% (12,70,54,524 shares) in favour of both ordinary resolutions
Remote e-voting concluded on September 13, 2026, and results were certified on September 15, 2026

💡 Track quarterly operational execution under the continuing leadership of MD Bhushan Akshikar, particularly the rollout of specialty oncology brands (Jemperli, Zejula) and Shingrix vaccine adoption.

GSK Pharma Issues Corrigendum to Postal Ballot Notice Correcting Typo in Executive Salary

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 02 Sep 2026, 11:38 AM

GlaxoSmithKline Pharmaceuticals Limited has issued a corrigendum to its Postal Ballot Notice dated August 3, 2026. The corrigendum corrects a typographical error in the Explanatory Statement regarding the proposed basic salary of Mr. Akshikar. The figure has been corrected to ₹24,00,000 per month (₹24 lakh/month) from the mistakenly typed ₹24,00,0000 per month. All other terms and conditions in the notice remain unchanged.

Corrected typographical error in point no. 3(i) of the Postal Ballot Notice Explanatory Statement
Basic salary for Mr. Akshikar corrected to ₹24,00,000/- per month from ₹24,00,0000/- per month
Postal Ballot Notice was initially dated August 3, 2026, and circulated to members on August 13, 2026
Corrigendum communicated to shareholders on September 1, 2026

💡 This is a minor administrative correction in shareholder voting documents; no action is required beyond noting the accurate remuneration figure for postal ballot voting.

GSK Pharma Issues Corrigendum to Postal Ballot Notice Correcting Managerial Remuneration Typo

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 02 Sep 2026, 11:37 AM

GlaxoSmithKline Pharmaceuticals Limited has issued a corrigendum to its Postal Ballot Notice dated August 3, 2026. The corrigendum corrects a typographical error in the Explanatory Statement concerning the proposed basic salary of Mr. Akshikar. The figure has been corrected to Rs. 24,00,000 per month from the erroneously printed Rs. 24,00,0000 per month. All other contents and terms of the postal ballot notice circulated to members remain unchanged.

Corrigendum issued for Postal Ballot Notice originally dated August 3, 2026
Corrected basic salary of Mr. Akshikar to Rs. 24,00,000 per month from Rs. 24,00,0000 per month
Notice was originally circulated to shareholders on August 13, 2026
All other contents and resolutions in the explanatory statement remain unchanged

💡 No action required. Shareholders participating in the postal ballot should note the corrected monthly remuneration figure of Rs. 24 lakh.

GSK Pharma Receives Income Tax Refund of Rs 4.99 Cr for AY 2025-26

🟡 NEUTRAL ⭐ 2/10

REGULATORY 📅 19 Aug 2026, 05:28 PM

GlaxoSmithKline Pharmaceuticals Limited has received an intimation under Section 143(1) of the Income Tax Act for Assessment Year 2025-26. The intimation includes an income tax refund of Rs 4.99 crore (Rs 4,99,11,100), which was credited to the company's bank account on August 18, 2026. The refund will be adjusted against the Tax Paid Assets account on the balance sheet. Given the company's TTM revenue of Rs 3,955 crore and TTM PAT of Rs 1,068 crore, this refund represents ~0.47% of annual profit and has negligible financial impact.

Received tax refund of Rs 4,99,11,100 (Rs 4.99 Cr) under Section 143(1) for AY 2025-26
Refund credited to the company's bank account on August 18, 2026
Accounting impact will be reflected in the Tax Paid Assets account on the Balance Sheet
Refund represents ~0.13% of TTM revenue (Rs 3,955 Cr) and ~0.47% of TTM PAT (Rs 1,068 Cr)

💡 No action required. This is a routine statutory tax processing intimation with immaterial financial impact.

GlaxoSmithKline Pharma Seeks Shareholder Approval for MD Re-appointment and New Director

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 13 Aug 2026, 01:03 PM

GlaxoSmithKline Pharmaceuticals has issued a postal ballot notice to seek shareholder approval for the re-appointment of Mr. Bhushan Akshikar as Managing Director for a two-year term from December 1, 2026, to November 30, 2028. The company is also seeking approval for the appointment of Ms. Karine J F Natland as a Non-Executive Director. Mr. Akshikar's remuneration for FY26 was Rs 11.36 Crores, which is approximately 1.1% of the company's TTM PAT of Rs 1036 Cr. The e-voting process will conclude on September 13, 2026, with results expected by September 15, 2026.

Proposed re-appointment of Mr. Bhushan Akshikar as Managing Director for a 2-year term starting December 1, 2026.
Mr. Akshikar's last drawn annual remuneration was Rs 11.36 Crores as of March 31, 2026.
Appointment of Ms. Karine J F Natland as a Non-Executive Director effective from August 4, 2026.
E-voting period is scheduled from August 14, 2026, to September 13, 2026.
The cut-off date for determining shareholder eligibility for voting was August 7, 2026.

💡 Investors should monitor the voting results announcement on or before September 15, 2026, to confirm leadership continuity for the upcoming two-year cycle.

15% Sales Growth in Q1 FY27; Innovation Portfolio Reaches 7.5% of Revenue

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 06 Aug 2026, 07:59 PM

GSK India reported a strong Q1 FY2027 with 15% sales growth, outperforming the Indian pharmaceutical industry's 13.5% growth. The 'Freshness Index' (products launched in the last 3 years) now contributes 7.5% to the top line, driven by specialty respiratory and oncology drugs. Despite a 36% spike in operating expenses due to front-loaded marketing for new launches, EBITDA grew 17%, slightly faster than sales. Management expects EBITDA margins to normalize to approximately 34% for the full year as spending stabilizes.

Sales grew by 15% in Q1 FY27, exceeding the Indian pharmaceutical industry growth of 13.5%
The innovation portfolio (products launched within 3 years) contributed 7.5% to total revenue
Shingrix (adult vaccine) recorded a growth of 60-65% during the quarter
Nucala (respiratory) active patient base reached 600, nearly doubling the business year-on-year
Operating expenses increased by 36% due to deliberate front-loading of marketing activities for new launches

💡 Monitor the sustainability of the 15% growth rate and the margin normalization to 34% as marketing spends stabilize. Watch for the continued ramp-up of the oncology portfolio (Jemperli and Zejula) as a key high-margin driver.

₹52 Cr Tax Refund Received for AY 1984-85; ₹42.09 Cr Interest to Boost P&L

🟢 POSITIVE ⭐ 5/10

REGULATORY 📅 06 Aug 2026, 07:57 PM

GlaxoSmithKline Pharmaceuticals (GSK) has received a tax refund of ₹52.00 Cr pertaining to the Assessment Year 1984-85. A significant portion of this, ₹42.09 Cr, is interest income that will be credited directly to the P&L account as income. This interest component represents approximately 4.06% of the company's TTM PAT of ₹1,036 Cr. While the refund relates to a 40-year-old legacy matter, the cash inflow and one-time P&L gain are positive for the current fiscal year's liquidity and earnings.

Total tax refund of ₹52.00 Cr received in the bank account on August 6, 2026.
Interest income of ₹42.09 Cr to be recognized in the P&L account, providing a one-time earnings boost.
The refund pertains to a long-standing tax dispute from Assessment Year 1984-85.
Final Order from ACIT Cir 7(1)(1) also noted a demand liability of ₹23.21 Cr, though the net result was a refund.

💡 Investors should note this as a non-recurring gain in the upcoming quarterly results. It is important to adjust for this ₹42.09 Cr one-time income when analyzing the company's core operational growth and margins.

GlaxoSmithKline Pharmaceuticals Shares Recording of Analyst/Institutional Investor Meeting

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 05 Aug 2026, 03:07 PM

GlaxoSmithKline Pharmaceuticals has released the video recording of its recent Analyst/Institutional Investor Meeting held in August 2026. This follows a strong FY26 performance where the company reported a TTM revenue of ₹3,821 crore and a PAT of ₹1,036 crore. The recording likely covers management's strategy for its recently launched oncology portfolio (Jemperli and Zejula) and the scaling of specialty brands. With a high OPM of 41.1% and ROCE of 61.0%, the company continues to focus on high-margin innovative assets.

Recording of the Analyst/Institutional Investor Meeting uploaded on August 5, 2026
Company reported TTM Revenue of ₹3,821 crore and PAT of ₹1,036 crore
Maintains a high Operating Profit Margin (OPM) of 41.1% as per latest annual data
Promoter holding remains stable at 75.0% as of March 2026
Company maintains a strong Return on Capital Employed (ROCE) of 61.0%

💡 Investors should review the recording on the company's website to understand management's commentary on the oncology segment's growth and the impact of NLEM price controls.

GSK Pharma uploads Analyst Meet recording; TTM Revenue at Rs 3,821 Cr

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 03 Aug 2026, 08:46 PM

GlaxoSmithKline Pharmaceuticals has released the audio recording of its Analyst/Institutional Investor meeting held in August 2026. This disclosure follows a period where the company reported a TTM revenue of Rs 3,821 Cr and a robust Operating Profit Margin of 41.1%. Investors can access the recording to understand management's strategy regarding the Oncology portfolio (Jemperli and Zejula) and the scaling of the Shingrix vaccine. The company maintains a high-quality financial profile with an ROCE of 61.0% and negligible debt (D/E 0.01).

Audio recording of the Analyst/Institutional Investor meeting uploaded on August 3, 2026.
Company reported TTM revenue of Rs 3,821 Cr for the period ending March 2026.
Maintained a high Operating Profit Margin (OPM) of 41.1% in the latest TTM period.
Promoter holding remains stable at the maximum regulatory limit of 75.0%.
Return on Capital Employed (ROCE) stands at a significant 61.0%.

💡 Investors should review the recording for management commentary on the growth trajectory of the Oncology segment and any updates on mitigating NLEM-related pricing pressures.

GSK India Q1 PAT ₹237 Cr; MD Bhushan Akshikar re-appointed for 2 years

🟢 POSITIVE ⭐ 7/10

MANAGEMENT 📅 03 Aug 2026, 04:19 PM

GlaxoSmithKline Pharmaceuticals (GSK India) reported a 16.5% YoY increase in consolidated revenue to ₹938.44 Cr for Q1 FY27. Consolidated PAT rose 15.7% YoY to ₹237.18 Cr, reflecting steady operational performance. The board has re-appointed Mr. Bhushan Akshikar as Managing Director for a two-year term starting December 1, 2026, ensuring leadership continuity. Additionally, Ms. Karine J F Natland, who leads GSK's global General Medicines portfolio (contributing >30% of global sales), joins the board as a Non-Executive Director.

Consolidated Revenue for Q1 FY27 grew 16.5% YoY to ₹938.44 Cr from ₹805.17 Cr
Consolidated Net Profit for the quarter reached ₹237.18 Cr compared to ₹205.01 Cr in the previous year
MD Bhushan Akshikar re-appointed for a 2-year term effective December 1, 2026
New Director Karine J F Natland leads a global portfolio contributing >30% of GSK's global sales
Standalone EPS for the quarter stood at ₹14.95, up from ₹12.08 YoY

💡 Monitor the scaling of the newly launched Oncology portfolio (Jemperli and Zejula) and the growth of the Shingrix vaccine under the extended leadership of the Managing Director.

GSK India Q1 FY27: 16.5% Revenue Growth to ₹938 Cr; MD Re-appointed for 2 Years

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 03 Aug 2026, 04:18 PM

GlaxoSmithKline Pharmaceuticals (GSK India) reported a strong start to FY27 with consolidated revenue growing 16.5% YoY to ₹938.44 Cr. Consolidated PAT increased by 15.7% YoY to ₹237.18 Cr, while standalone EPS rose to ₹14.95 from ₹12.08. The board has also ensured leadership continuity by re-appointing Mr. Bhushan Akshikar as Managing Director for a two-year term starting December 2026 and inducting Ms. Karine J F Natland, a global GSK leader, to the board.

Consolidated revenue from operations grew 16.5% YoY to ₹938.44 Cr in Q1 FY27.
Consolidated Profit After Tax (PAT) increased 15.7% YoY to ₹237.18 Cr.
Standalone EPS improved to ₹14.95 compared to ₹12.08 in the same quarter last year.
Managing Director Bhushan Akshikar re-appointed for a 2-year term effective December 1, 2026.
Standalone other income includes a ₹18 Cr dividend from 100% subsidiary Biddle Sawyer Limited.

💡 Investors should monitor the sales trajectory of the newly launched Oncology portfolio (Jemperli and Zejula) and the scaling of the Shingrix vaccine, which are key to maintaining the current double-digit growth momentum.

GSK India Q1 Results: 16.5% Revenue Growth to ₹938 Cr; MD Re-appointed for 2 Years

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 03 Aug 2026, 04:16 PM

GlaxoSmithKline Pharmaceuticals (GSK India) reported a solid Q1 FY27 with consolidated revenue rising 16.5% YoY to ₹938.44 Cr. Consolidated PAT increased 15.7% YoY to ₹237.18 Cr, maintaining strong profitability with an EPS of ₹14.95. The board ensured leadership continuity by re-appointing Bhushan Akshikar as Managing Director for a two-year term starting December 2026. Additionally, the appointment of Karine J F Natland (SVP APAC) to the board aligns the Indian entity closer to GSK's global General Medicines strategy.

Consolidated revenue from operations grew 16.5% YoY to ₹938.44 Cr from ₹805.17 Cr.
Consolidated Net Profit for the quarter increased 15.7% YoY to ₹237.18 Cr.
Managing Director Bhushan Akshikar re-appointed for a 2-year term effective December 1, 2026.
New Director Karine Natland brings experience leading a global portfolio contributing >30% of GSK's global sales.
Standalone Other Income includes ₹18 Cr dividend from 100% subsidiary Biddle Sawyer Limited.

💡 Investors should monitor the growth trajectory of the newly launched Oncology portfolio (Jemperli and Zejula) and the scaling of the Shingrix vaccine, which are key to maintaining the current double-digit growth momentum.

View All GLAXO Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Standalone revenue for Q2 FY26 was INR 974 Cr, a decline of 2.6% YoY. Pediatric vaccines grew by 13% YoY, while the adult vaccine (Shingrix) also saw double-digit growth. General Medicines business was flattish/declined due to a combined INR 70-75 Cr impact from supply issues and GST reforms.

Geographic Revenue Split

Not disclosed in available documents, though the company operates primarily in the Indian Pharmaceutical Market (IPM) with exports mentioned as an industry-wide factor.

Profitability Margins

Gross margins improved and are expected to be sustainable due to stable raw material prices. Net Profit After Tax (before exceptional items) for Q2 FY26 was INR 253 Cr, representing a 26.1% margin, which is a 150 bps improvement YoY.

EBITDA Margin

EBITDA margin reached 34.4% in Q2 FY26, a significant improvement of 250 basis points YoY, driven by cost savings, better product mix, and field cost productivity.

⚙️ Operational Drivers

Raw Materials

Specific chemical names not listed; however, raw materials are noted as having 'stable prices' with no current spikes, allowing for sustained gross margins.

Key Suppliers

The company relies on third-party Contract Manufacturing Organizations (CMOs). One specific CMO (unnamed) suffered a fire incident that caused a supply disruption.

Capacity Expansion

Not disclosed in available documents; however, the company is focusing on 'product transformation' by launching innovative assets like Jemperli and Zejula.

Raw Material Costs

Raw material costs are described as stable. The company focuses on expanding gross margins through a singular focus on cost consciousness and mitigating input cost fluctuations.

Manufacturing Efficiency

Field cost productivity has been maintained. The company is moving toward high-category growth innovative assets to improve overall profitability.

📈 Strategic Growth

Expected Growth Rate

10%+

Growth Strategy

Growth will be driven by the launch of the Oncology portfolio (Jemperli and Zejula), scaling of Specialty brands (Nucala, Trelegy), and double-digit growth in the Vaccine segment (Shingrix). The company aims to recover from Q2 headwinds to meet its double-digit ambition for the full year.

Products & Services

Pharmaceutical products including anti-infectives, pain medications, dermatologicals, oncology drugs (Jemperli, Zejula), and vaccines (Shingrix, pediatric vaccines).

Brand Portfolio

Calpol, Nucala, Trelegy, Shingrix, Jemperli, Zejula.

New Products/Services

Launched Oncology portfolio on August 15, 2025, featuring Jemperli (for endometrial cancer) and Zejula (for ovarian cancer). These are expected to contribute significantly in coming quarters.

Market Expansion

Focusing on Gyn-Oncology solutions for Indian patients and expanding the adult vaccination market through Shingrix.

Market Share & Ranking

Maintained a competitive market share of approximately 27.6% in relevant segments.

🌍 External Factors

Industry Trends

The industry is shifting toward specialty medicines and oncology. There is an increasing threat from generics and biosimilars due to patent expirations and India's strong generic export position.

Competitive Landscape

Faces competition from generic drug manufacturers and other multinational pharma companies in the acute and specialty segments.

Competitive Moat

Moat is built on strong brand equity (e.g., Calpol), a leadership position in vaccines, and a strategic shift toward high-margin, innovative specialty drugs that are harder to commoditize.

Macro Economic Sensitivity

The acute segment of the Indian Pharmaceutical Market (IPM) grew below 5% in Q2, indicating sensitivity to seasonal demand and overall market softness.

Consumer Behavior

Increased demand for adult vaccines (Shingrix) and specialized oncology treatments as patient awareness and diagnostic capabilities improve.

Geopolitical Risks

Global geopolitical tensions are cited as factors that disrupt supply chains and increase raw material cost volatility.

⚖️ Regulatory & Governance

Industry Regulations

Strict pricing regulations under the National List of Essential Medicines (NLEM) impact profit margins. Manufacturing must meet high GSK global quality standards.

Taxation Policy Impact

Impacted by GST reforms which had a transitionary revenue impact of INR 30-32 Cr in Q2 FY26.

Legal Contingencies

The company is evaluating a demand order (value not specified) and plans to take appropriate legal actions. No other specific court case values were disclosed.