GlaxoSmithKline Pharmaceuticals Posts Strong FY26 Results; Board Recommends Rs. 57 Per Share Final Dividend

GlaxoSmithKline Pharmaceuticals Limited reported its audited financial results for the quarter and year ended 31st March 2026, approved by the Board of Directors at their meeting held on 13th May 2026. The statutory auditors, Deloitte Haskins & Sells LLP, issued an unmodified opinion on both standalone and consolidated financial results for the year ended 31st March 2026. The company operates in a single reportable segment — Pharmaceuticals — and the paid-up equity share capital stands at Rs. 16941 lakhs (face value Rs. 10 per share), unchanged from the previous year.

Consolidated Financial Performance

On a consolidated basis, the company delivered a robust performance for FY26. Revenue from operations rose to Rs. 382167 lakhs from Rs. 374921 lakhs in FY25. Total income, including other income of Rs. 14536 lakhs, stood at Rs. 396703 lakhs compared to Rs. 389514 lakhs in the prior year. Total expenses declined to Rs. 258164 lakhs from Rs. 263995 lakhs, contributing to a higher profit before exceptional items and tax of Rs. 138539 lakhs versus Rs. 125519 lakhs in FY25. The following table summarises the consolidated income statement highlights:

Metric: Year ended 31.03.2026 (Rs. in Lakhs) Year ended 31.03.2025 (Rs. in Lakhs) Revenue from operations: 382167 374921 Other income: 14536 14593 Total Income: 396703 389514 Total Expenses: 258164 263995 Profit before exceptional items and tax: 138539 125519 Exceptional items (credit): 2062 469 Profit before tax: 140601 125988 Net Profit for the year: 103598 92758 Total Comprehensive Income: 102844 92492

For the quarter ended 31st March 2026, consolidated revenue from operations was Rs. 99530 lakhs and net profit stood at Rs. 27786 lakhs, compared to Rs. 97437 lakhs and Rs. 26287 lakhs respectively in the corresponding quarter of the previous year.

Consolidated Earnings Per Share

EPS Metric: Year ended 31.03.2026 (Rs.) Year ended 31.03.2025 (Rs.) Basic and diluted EPS before Exceptional items: 60.11 54.52 Basic and diluted EPS after Exceptional items: 61.15 54.76

Standalone Financial Performance

On a standalone basis, GlaxoSmithKline Pharmaceuticals reported revenue from operations of Rs. 379020 lakhs for FY26, up from Rs. 372349 lakhs in FY25. Total income reached Rs. 393276 lakhs against Rs. 386605 lakhs in the prior year. Net profit for the year stood at Rs. 101182 lakhs compared to Rs. 91906 lakhs in FY25. Total comprehensive income for the year was Rs. 100428 lakhs versus Rs. 91640 lakhs in FY25.

Metric: Year ended 31.03.2026 (Rs. in Lakhs) Year ended 31.03.2025 (Rs. in Lakhs) Revenue from operations: 379020 372349 Other income: 14256 14256 Total Income: 393276 386605 Total Expenses: 255917 262230 Profit before exceptional items and tax: 137359 124375 Exceptional items (credit): 264 469 Profit before tax: 137623 124844 Net Profit for the year: 101182 91906 Total Comprehensive Income: 100428 91640

Standalone basic and diluted EPS before exceptional items for FY26 was Rs. 59.59, compared to Rs. 54.01 in FY25. Standalone basic and diluted EPS after exceptional items for FY26 was Rs. 59.73, compared to Rs. 54.24 in FY25.

Balance Sheet and Cash Flow Highlights

On a consolidated basis, total assets stood at Rs. 432387 lakhs as at 31st March 2026, compared to Rs. 410808 lakhs as at 31st March 2025. Total equity increased to Rs. 226742 lakhs from Rs. 195131 lakhs. Cash and cash equivalents at the end of the year were Rs. 110205 lakhs, up from Rs. 53885 lakhs at the start of the year. Net cash generated from operating activities for the year was Rs. 90330 lakhs, while net cash inflow from investing activities was Rs. 39698 lakhs. Net cash outflow from financing activities, which included dividend payments of Rs. 71397 lakhs to shareholders, was Rs. 73708 lakhs.

Exceptional Items

Consolidated exceptional items credit for the year ended 31st March 2026 amounted to Rs. 2062 lakhs, comprising Rs. 264 lakhs on account of profit on sale of surplus residential properties and Rs. 1798 lakhs on account of sale of a non-operational land site. For the year ended 31st March 2025, the exceptional item credit was Rs. 469 lakhs on account of profit on sale of surplus residential properties.

Labour Code Impact

On November 21, 2025, the Government of India notified four Labour Codes consolidating 29 existing labour laws. The company assessed the incremental impact based on an actuarial valuation report, resulting in an increase of Rs. 1182 lakhs in employee benefits expense for the year ended 31st March 2026, primarily due to a change in wage definition. The company has stated it will continue to monitor the finalisation of Central and State Rules and provide appropriate accounting effect as needed.

Dividend and Corporate Actions

The Board of Directors has recommended a final dividend of Rs. 57 per equity share of face value Rs. 10 each for the year ended 31st March 2026, subject to shareholder approval at the 101st Annual General Meeting. For reference, the total dividend for the year ended 31st March 2025 was Rs. 54 per equity share, including a final dividend of Rs. 42 per equity share. Key dates related to the dividend and AGM are as follows:

Event: Date Record Date for final dividend: Friday, 29th May 2026 101st Annual General Meeting: Tuesday, 30th June 2026 Dividend payment (on and after): Wednesday, 1st July 2026

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