Conference Call with Gland Pharma Management and Analysts on Q2FY24 Performance and Outlook. Listen to the full earnings transcript.
Pharmaceuticals company Gland Pharma announced Q2FY24 & H1FY24 results: 1. Financial Performance: - Gland Pharma's Q2FY24 revenue stood at Rs 13,734 million, representing a YoY growth of 32%. - The company achieved a net profit of Rs 1,941 million during Q2FY24. - Revenue for H1FY24 was Rs 25,821 million, a 36% increase compared to the previous year. 2. Gross Profit Margin and EBITDA: - Gland Pharma reported a gross profit margin of 63% in Q2FY24, higher than the previous year. - The EBITDA margin for the quarter was 23%. - Cenexi, a subsidiary of Gland Pharma, showed a gross profit margin of 77% despite an operational shutdown. 3. Geographic Revenue Breakdown: - The USA accounted for 54% of Q2FY24 revenue, down from 65% in the same quarter last year. - Europe and Rest of the World (ROW) markets saw growth due to the inclusion of Cenexi. - India contributed to 6% of Q2FY24 revenue. 4. R&D; Expenditure: - Gland Pharma spent Rs 351 million on research and development in Q2FY24. - The company filed 1 ANDA and received approval for 5 ANDAs during the quarter. 5. Capex: - Gland Pharma invested a total of Rs 971 million in capital expenditure during Q2FY24. Commenting on the results, Srinivas Sadu, MD & CEO, Gland Pharma, said, “We ended the first half of FY24 with revenue of Rs 25,821 million, a 36% year-over-year increase, and a net profit of Rs 3,882 million. Pricing and market share trends have shown encouraging indicators of normalization in our key products, contributing to our revenue growth. The overall business stability is restoring confidence, and we stay optimistic about future growth with the forthcoming launches, portfolio expansion, and entry into new markets via a partner-led strategy. Considering the annual summer shutdown in France & Belgium, revenues at Cenexi are in line with our estimates; However, the gross contribution margins saw a sequential improvement. Cenexi remains a strategic asset with a distinctive acquisition thesis, and we are committed to instituting effective measures and new investments to optimize operations and deliver long-term value to our shareholders.” Result PDF
Conference Call with Gland Pharma Management and Analysts on Q1FY24 Performance and Outlook. Listen to the full earnings transcript.
Pharmaceuticals company Gland Pharma announced Q1FY24 results: Revenue from operations of Rs 12,087 million in Q1FY24 compared to Rs 8,569 million in Q1FY23, up 41% YoY Gross Profit of Rs 7,558 million in Q1FY24 comapred to Rs 4,828 million in Q1FY23, up 57% YoY EBITDA of Rs 2,982 million in Q1FY24 comapred to Rs 2,699 million in Q1FY23, up 10% YoY EBITDA Margin of 25% in Q1FY24 comapred to 31% in Q1FY23 PBT of Rs 2,613 million in Q1FY24 comapred to Rs 3,085 million in Q1FY23, down 15% YoY PAT of Rs 1,941 million in Q1FY24 compared to Rs 2,292 million in Q1FY23, down 15% YoY Total Capex incurred during Q1FY24 was Rs 687 million Commenting on the results, Srinivas Sadu, MD & CEO, Gland Pharma said, “I am pleased to share that the efforts made for business recovery, after a challenging previous year, are yielding fruitful results. I would like to congratulate our team for their relentless efforts in launching 33 product SKUs during this quarter. The operating revenue for the quarter stood at Rs 12,087 million, a YoY growth of 41% with an EBITDA of Rs 2,982 million. The outcomes of the recently conducted US FDA inspections at three of our sterile facilities demonstrate our commitment to being a quality-focused and regulatory-compliant company. Maintaining an unwavering focus on quality and regulatory compliance establishes trust with our partners and will keep us in good stead in further strengthening our customer base.” Result PDF