Guidance ledger · Q3 FY26

Glenmark Pharmaceuticals GLENMARK

3 revisions on record · 1 lowered · 2 raised — the strikethrough is what management used to say

mixed guidance posture · shifted across quarters

Holding view → · latest concall · The pulse

↓ lowered Europe growth outlook Q1 FY26 → Q3 FY26

~~double-digit growth FY26~~ → high single-digit to low double-digit

“we are seeing high single digit to low double digit, right, growth for Europe going forward”

↑ raised EBITDA margin trajectory Q4 FY25 → Q2 FY26

~~19% to 20% FY26~~ → 23% trending to 25%+

“strong operating margins of 23% going forward, targeted to go up to 25 -plus percent in the years to come, a well -funded company generating strong free operating c”

↑ raised Revenue growth ambition Q4 FY25 → Q2 FY26

~~10% to 12% FY26~~ → 12% to 15% (Glenmark 3.0)

“I see Glenmark 3.0 as a company entering a very strong revenue growth phase of 12% to 15%”

Method. Revisions come from management's own stated numbers, compared quarter over quarter across the covered concalls; each carries the verbatim quote. “No revisions” can also mean guidance too vague to pin down — see the posture chip above. Not investment advice.