Pharmaceuticals company Glenmark Life Sciences announced FY24 & Q4FY24 results: Financial Highlights: For FY24, GLS registered revenue from operations of Rs 22,832 million, a growth of 5.6% YoY. For Q4FY24, revenue from operations was at Rs 5,366 million. EBITDA for FY24 was at Rs 6,863 million, a growth of 2.2% YoY and EBITDA margins for the full year were at 30.1%. For the quarter, EBITDA stood at Rs 1,446 million and EBITDA margins were at 26.9%. PAT for FY24 was at Rs 4,709 million, a growth of 0.8% YoY, whereas for the quarter it stood at Rs 979 million. During FY24, company generated strong free cash flow of Rs 2,845 million leading to Cash and Cash Equivalents of Rs 3,014 million as of 31 March 2024. Commenting on the company’s performance Dr. Yasir Rawjee, MD & CEO, Glenmark Life Sciences said, “FY24 was a milestone year for Glenmark Life Sciences, marked by the successful acquisition by Nirma Limited. With Nirma's commitment and strategic vision, we are poised for accelerated growth and market positioning. We concluded the financial year on a positive note with revenue growth of 5.6% on full year basis, driven by regulated markets in external business. Our commitment to high-quality, innovative solutions and scalability will fuel sustainable long-term growth. These, coupled with a strong order book and demand visibility will ensure steady growth in FY25 and beyond.” Tushar Mistry, CFO, Glenmark Life Sciences Limited said, “Despite global uncertainties and our integration efforts with Nirma Limited, we achieved a revenue growth of 5.6% in FY24. Our annualized margins continue to be in the range of ~30% despite one-time costs such as bonuses and transaction expenses. Our strong free cash flow generation in FY24 has bolstered our financial standing, enabling continued growth while maintaining a debt-free balance sheet.” Result PDF
Conference Call with Glenmark Life Sciences Management and Analysts on Q4FY24 Performance and Outlook. Listen to the full earnings transcript.