GSK Pharma India Q1 FY27: Key estimates and targets

Why GSK Pharma India’s Q1 FY27 print is in focus

GlaxoSmithKline Pharmaceuticals Ltd (GSK India) is on investor watchlists ahead of the July-August 2026 results season, as multiple estimate sets circulate around its Q1 FY27 performance. The estimates in the provided data include both a single-point Uniresearch projection and a broader range for revenue and profit. Alongside these, the article text also includes the company’s earlier reported Q1 FY26 numbers and FY26 full-year performance, which act as the base for year-on-year comparisons.

The key takeaway from the estimates is a split signal: revenue is expected to be broadly flat to slightly lower year-on-year in one framework, while profit after tax (PAT) is projected to grow. The inputs also highlight GSK’s recent quarter performance in Q4 FY26 and the dividend recommendation for the year ended March 31, 2026.

Uniresearch’s Q1 FY27 projection: revenue down, PAT up

Uniresearch’s estimate projects Q1 FY27 revenue at ₹795 crore, implying -1.2% YoY, and PAT at ₹231 crore, implying +12.6% YoY. This projection is explicitly described as being derived from a “trailing analysis”, applying growth rates to verified Q1 FY26 actuals.

The base numbers referenced for Q1 FY26 in this dataset are ₹805 crore revenue and ₹205 crore PAT (from consolidated quarterly financial data and the company’s quarter ended June 30, 2025 disclosure included in the text). The Uniresearch method described applies the trailing growth rates (Revenue -1.2%, PAT +12.6%) to that base to arrive at the Q1 FY27 projection.

The dataset also mentions an “Average 12-month price target: ₹1,114” in the Uniresearch context. Separately, it includes a different 12-month target range, which is detailed below.

A second estimate set shows a wider Q1 FY27E range

A separate preview within the text frames a different estimate approach, stating that the preview is built on a trailing-growth framework applied to a Q1 FY26 base of ₹849 crore revenue and ₹205 crore net profit, using the latest year-on-year growth signal from Q4 FY26. In that section, the Q1 FY27 estimates are presented as ranges:

• Q1 FY27E revenue: ₹802-923 crore
• Q1 FY27E PAT (net profit): ₹191-243 crore

This same section also lists GlaxoSmithKline Pharmaceuticals’ current market price (CMP) at ₹2,396, with market capitalisation of ₹40,535 crore, and a price-to-earnings multiple marked as “Not meaningful.” It further provides a 12-month target range of ₹2,314-2,625.

What the most recent reported quarter shows (Q4 FY26)

The text includes two revenue figures for Q4 FY26, both paired with the same PAT figure:

• Q4 FY26 consolidated revenue ₹995 crore and PAT ₹278 crore (noted as consolidated quarterly financial data)
• Q4 FY26 revenue ₹1,031 crore and net profit ₹278 crore (used as the “most recent reported quarter” base in the preview)

The preview also states that the Q4 FY26 year-on-year change was +1.6% for revenue and +5.7% for PAT versus Q4 FY25.

FY26 full-year performance and dividend recommendation

For the full year ended March 31, 2026, the company reported revenue of ₹3,790 crore, described as 2% growth. PAT increased by 10% to ₹1,012 crore, while EBITDA margins expanded by 290 bps to 34%.

For the quarter ending March 31, 2026, the company reported revenue of ₹989 crore and PAT of ₹275 crore, with EBITDA margins improving by 90 bps to 35%.

The Board of Directors also recommended a final dividend of ₹57 per equity share for the year ended March 31, 2026.

Business and portfolio context cited in the text

In the company’s disclosure for the quarter ended June 30, 2025 (Q1 FY26), GSK India said it was focused on sustained profitability and continued investment across key portfolios. It also highlighted priority areas including anti-infectives, pain management and dermatology.

That disclosure stated revenue from operations was ₹805 crore with PAT of ₹205 crore. It also noted that the General Medicines portfolio delivered “strong external competitive performance” in Q1, with key promoted brands achieving market share gains and above-market growth, citing IQVIA as the source.

Key identifiers and contact details included

The text lists the company’s registered office as GSK House, Dr. Annie Besant Road, Worli, Mumbai - 400030, Maharashtra, with telephone 022-24959595, fax 022-24959494, and investor email in.investorquery@gsk.com. The website is provided as www.gsk-india.com (also referenced as http://www.gsk-india.com in the text).

It also references an office/agent address in the Financial District area: Selenium Tower B, Plot No. 31-32, Gachibowli Financial District, Nanakramguda, Serilingampally Mandal, Hyderabad - 500032, Telangana, and a toll-free number 1-800-309-4001.

The stock identifier in the text includes BSE: 500660.

Snapshot table: reported bases and Q1 FY27 estimates

Market impact: what investors can infer from the numbers

The estimates point to a quarter where profit growth could outpace revenue movement, based on the Uniresearch projection of -1.2% YoY revenue and +12.6% YoY PAT. Separately, the wider estimate band (₹802-923 crore revenue; ₹191-243 crore PAT) indicates uncertainty around both the top line and earnings, which is common ahead of results.

The presence of two Q4 FY26 revenue figures (₹995 crore and ₹1,031 crore) in the provided text suggests that readers should track which reported base is being used when comparing sequential performance. Meanwhile, the FY26 disclosure of margin expansion (EBITDA margin up to 34% for the year, and 35% for the March 2026 quarter) frames why PAT could hold up even if revenue growth is limited.

Analysis: why the Q1 FY27 result matters for the FY27 narrative

With the results date described as July-August 2026 (indicative), the Q1 FY27 print is positioned as the first read on FY27 momentum. The FY26 full-year numbers (₹3,790 crore revenue and ₹1,012 crore PAT) and the dividend recommendation (₹57 per share) provide additional context for how the company has been balancing profitability with shareholder payouts.

The estimate sets also show how different frameworks can yield different starting points: one uses Q1 FY26 revenue of ₹805 crore, while another references ₹849 crore as the Q1 FY26 base. That difference matters because percentage growth rates applied to different bases can produce materially different “expected” outcomes, even before accounting for operational changes.

Conclusion

The provided data sets out two main expectation tracks for GSK Pharma India’s Q1 FY27: Uniresearch’s point estimate of ₹795 crore revenue and ₹231 crore PAT, and a broader range of ₹802-923 crore revenue with ₹191-243 crore PAT. Investors tracking the July-August 2026 reporting window will likely compare the actual print against these benchmarks, alongside the FY26 margin and dividend disclosures already on record.