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Gland Pharma’s Q2FY22 revenue rises 30% with net profit growth of 38%

As on September 30, 2021, the Company along with its Partners have filed total 291 ANDAs, out of which 244 were approved and 47 are pending approval.

October 25, 2021 11:38 IST | India Infoline News Service
Gland Pharma Limited a generic injectable focused pharmaceutical company, today announced its financial results for the second quarter and half year ended September 30, 2021.

Commenting on the results, Mr. Srinivas Sadu, MD & CEO of Gland Pharma said “We delivered a strong performance this quarter Q2 FY22, with a revenue of ₹ 10,805 million, which is a y-o-y revenue growth of 30%. With a PAT of ₹ 3,021 million, we saw a y-o-y PAT growth of 38% for the quarter. We continue to focus on revenue diversification across geographies, which is helping us further improve our manufacturing efficiencies because of benefits from scale as well as de-risking the business. With declining COVID-19 hospitalizations, we observed a shift in product mix. Our wide therapeutic portfolio helped us to sustain growth despite changing market demand. Our rich R&D pipeline is helping us maintain strong momentum of new product launches. We are on track to make four complex injectable filings in this financial year.”
  • Revenue from operations during the second quarter of financial year 2022 grew by 30% as compared to corresponding quarter of the previous year. The Company maintained a healthy EBITDA margin of 38% and PAT margin of 27% during the quarter.
  • Revenue from operations for the six months ended September 30, 2021 grew by 30% as compared to the corresponding period of previous year.
The growth in revenue was on account of launch of new products and growth in existing products.
  • Its key markets, US, Canada, Europe and Australia registered a growth of 25% and accounted for 62% of our revenue during Q2FY22. The strength of our wide portfolio helped us to sustain growth amidst changing market demand as COVID-19 hospitalizations declined.
  • Rest of the World markets have seen a robust growth of 59% in line with our increased focus on geographic expansion. This is driven by increased penetration by forming new partnerships in various countries.
  • India accounted for 17% of Q2FY22 revenue and witnessed a 19% Y-o-Y growth for the quarter.

Research and Development:
  • The total R&D expense for Q2FY22 was ₹578 million which is 5.3% of revenue and for H1FY22 the total R&D expense was Rs1,015 million which is 4.5% of revenue. We opened our new R&D centre, and expanded our R&D team having capabilities in development of complex APIs.
  • During the quarter ended September 30, 2021, the Company has filed 5 ANDAs, 3 DMFs and received 5 ANDA approvals.
  • As on September 30, 2021, the Company along with its Partners have filed total 291 ANDAs, out of which 244 were approved and 47 are pending approval.
Capex:
  • Total Capex incurred during the quarter ended September 30, 2021 was ₹ 1,429 million.
# includes products where launch quantity is dispatched to our partners

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