Pharmaceuticals company Glenmark Life Sciences announced Q2FY25 results For H1FY25, GLS registered a revenue from operations of Rs 10,955 million, a de-growth of 6.7% YoY. For Q2FY25, revenue from operations was at Rs 5,069 million. EBITDA for H1FY25 was at Rs 3,079 million, a de-growth of 16.2% YoY while EBITDA margins stood at 28.1%. For Q2FY25, EBITDA was at Rs 1,429 million and EBITDA margins were at 28.2%, up 20 bps QoQ. PAT for H1FY25 was at Rs 2,068 million whereas for the quarter it stood at Rs 953 million. During H1FY25, company generated strong free cash flow of Rs 1,340 million, leading to Cash and Cash Equivalents of Rs 4,461 million as of 30 September, 2024. Yasir Rawjee, MD & CEO, Glenmark Life Sciences said: “The temporary closure of Ankleshwar facility has resulted in delayed servicing of orders, impacting the quarter revenue across geographies. However, the loss of production has substantially been recovered and we expect H2FY25 to be better than the earlier estimates. A key highlight is that our product mix has led to better gross margins i.e. above 55%. Looking ahead, we expect a strong second half of the fiscal year, supported by our solid order book. While overall growth for FY25 is projected to be in high single digits, we are confident in maintaining stable margins throughout the year.” Tushar Mistry, CFO, Glenmark Life Sciences said: “I am pleased to share that despite the temporary setback, our gross margins improved both year-on-year and sequentially, returning to approximately 55.6%, while EBITDA margins remained steady at around 28.2%. GLS generated a solid cash flow of Rs 134 crores during H1FY25, enabling continued growth and allowing us to maintain a debt-free balance sheet." Result PDF
Conference Call with Glenmark Life Sciences Management and Analysts on Q2FY25 Performance and Outlook. Listen to the full earnings transcript.