Gland Pharma Q4 PAT up 10% YoY

20 May 2022 , 10:36 AM

The growth in consolidated revenue during the year was driven by the launch of new products and robust volume growth in existing products. Core markets of US, Europe, Canada, and Australia accounted for 64% of revenue during Q4 FY22 and witnessed growth of 8% over same period of previous financial year. India accounted for 18% of Q4FY22 revenue and witnessed a 137% Y-o-Y growth for the quarter. Rest of the World markets have seen a robust growth of 32% during Q4 FY22 compared to Q4 FY21. EBITDA improved by 10% to Rs 413.6 crore in Q4 FY22 over Q4 FY21. EBITDA margin was 35% in Q4 FY22 as against 40% in Q4 FY21. Profit before tax in Q4 FY22 stood at Rs 380.5 crore, up by 9% from Rs 348.9 crore in Q4 FY21. The total R&D expense for Q4FY22 was Rs 55.9 crore, which is 5.1% of revenue. During the quarter ended March 31, 2022, the company had filed 2 ANDAs, and received 3 ANDA approvals. As on 31 March 2022, the company along with its Partners have filed total 311 ANDAs, out of which 252 were approved and 59 are pending approval. Total capex incurred during the quarter ended March 31, 2022 was Rs 67.4 crore. The company recorded 22% increase in net profit to Rs 1,211.7 crore on a 27% rise in revenue from operations to Rs 4,400.7 crore in Q4 FY22 over Q4 FY21. Srinivas Sadu, MD & CEO of Gland Pharma, said ?Our foray into biosimilar/biologics CDMO business during FY22 was a key strategic initiative to transform Gland Pharma into a full-fledged CDMO company both in small and large molecules. It positions us for long-term growth and value creation for our stakeholders. We also started our new R&D centre to expand our development capabilities during the year.? Hyderabad-based Gland Pharma is one of the largest and fastest growing injectable-focused companies, with a global footprint across 60 countries, including the United States, Europe, Canada, Australia, India and other markets. It operates primarily under a business to business (B2B) model and it engaged in development, manufacturing and marketing of complex injectables. The scrip shed 0.67% to currently trade at Rs 3075.05 on the BSE. Powered by Capital Market – Live News