Gland Pharma Q3 Results: Profit Rises 7%, Revenue Falls 10%
Ebitda margin expands to 26% versus 23.1% in the year-ago period.
Gland Pharma Ltd.'s net profit rose 7% to Rs 204.6 crore in the quarter ended December from Rs 191.8 crore in the year-ago period.
The pharma manufacturer's earnings before interest, tax, depreciation and amortisation rose 1% to Rs 359.9 crore for the third quarter from Rs 356.2 crore for the same quarter in the previous fiscal, according to an exchange filing on Monday.
Gland Pharma Q3 FY25 Highlights(Consolidated, YoY)
Revenue down 10% to Rs 1,384 crore versus Rs 1,545 crore.
Ebitda up 1% to Rs 359.9 crore versus Rs 356.2 crore.
Ebitda margin expands to 26% versus 23.1%.
Net profit up 7% to Rs 204.6 crore versus Rs 191.8 crore.
During the third quarter, Gland Pharma incurred research and development expenses of Rs 43.7 crore, while the total capital expenditure incurred stands at Rs 137.9 crore, according to the investor presentation. It also introduced 13 new molecules, including chlorpromazine, dexamethasone, phenylephrine, phytonadione and diphenhydramine.
The company has completed nine filings in a targeted portfolio of 19 products. Six complex products have already been launched, with three more expected to gain approval soon. These products target a $7.1-billion market opportunity.
The pharma firm is making significant progress on its strategic biologics contract development and manufacturing organisation collaboration with leading pharmaceutical companies, expecting to generate additional revenue starting next financial year.
"Building on the company's strong foundation, my (CEO) focus will be on enhancing operational excellence in our base business, ensuring Cenexi's successful turnaround, identifying and pursuing new growth opportunities, and further solidifying our position as a leader in the CDMO space, particularly in biologies and complex injectables," Chief Executive Officer Shyamakant Giri said.
Shares of Gland Pharma closed 1.08% lower at Rs 1,513.95 apiece on the National Stock Exchange, compared to a 0.52% fall in the benchmark Nifty. The stock has fallen 24.98% in the last 12 months.
Out of 16 analysts tracking the company, eight maintain a 'buy' rating on the stock, two recommend 'hold' and six suggest 'sell', according to Bloomberg data. The average of 12-month analysts' price target implies a potential upside of 28.7%.
