GlaxoSmithKline Pharmaceuticals

GLAXO

NSE

BSE

SectorHealthcare

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Company insights, generated from the most recent coverage.

Growth trajectory supported by key products: Shingrix (+65% growth), Augmentin, Trelegy Ellipta, and paediatric vaccines franchise. Management guides for ₹8,000 Cr top-line in 4–5 years (13–14% CAGR).
Q1 FY27 results show strong momentum: Revenue up 15% YoY to ₹924 Cr, PAT up 24% YoY to ₹253 Cr, with EBITDA margin at 31.7%. Innovation portfolio now 7% of sales (up from 4%).
Trading at a P/E of 48x and P/B of 22.7x, pricing in significant future growth. Valuation leaves little room for error, making the stock susceptible to corrections near 52-week highs.

The Quarter story

The two most recent quarterly results, compared side-by-side.

GSK India sustains profitability and specialty growth despite seasonal revenue cooling.

PAT grows from ₹205 Cr to ₹253 Cr from Q1 FY26 to Q1 FY27, showing resilient bottom-line performance.

Revenue declines from ₹1,023 Cr to ₹924 Cr from Q3 FY26 to Q1 FY27, indicating post-peak demand cooling.

Established Vaccines market share rises from 20.5% to 26.1% from Q3 FY26 to Q1 FY27, signaling strong market capture.

EBITDA margin slips from 35.9% to 31.7% from Q3 FY26 to Q1 FY27, indicating margin normalization.

Nucala monthly units climb from 2,400 to 3,500 from Q1 FY26 to Q1 FY27, showing accelerating adoption.

Ceftum value index drops from 112 to 101 from Q3 FY26 to Q1 FY27, reflecting competitive pressure.

Calpol value index improves from 92 to 106 from Q1 FY26 to Q1 FY27, signaling strong category growth.

Established Vaccines unit index falls from 103 to 95 from Q3 FY26 to Q1 FY27, warning of volume softening.

Oncology touchpoints expand from 4 to 7.7 from Q3 FY26 to Q1 FY27, highlighting expanded outreach.

EPS eases from ₹16.36 to ₹14.95 from Q3 FY26 to Q1 FY27, reflecting earnings stabilization.

About the company

GlaxoSmithKline Pharmaceuticals Limited is an Indian subsidiary of UK-based GSK Plc, engaged in manufacturing, distributing, and trading pharmaceuticals. The company operates in three main product areas: vaccines, specialty medicines, and general medicines. It has manufacturing facilities in Nashik and Thane, with a clinical development center in Bangalore. The company's portfolio includes medicines for various therapeutic areas such as anti-infectives, dermatology, gynaecology, diabetes, oncology, cardiovascular disease, and respiratory diseases. They also offer a range of vaccines for various diseases. Key brands include Augmentin, Calpol, Shingrix, Nucala, and Trelegy Ellipta. The company has six branch offices and works with 22 contract manufacturing organizations across India. A new manufacturing facility is being developed in Vemgal, Karnataka, with an investment of over Rs 1000 crore.

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