Gland Pharma Q4 Results 2022: FY’22 Revenue grew by 27% to reach ₹44,007 Mn

Gland Pharma Q4 Results 2022

Corporate Action
by Shreya Anaokar Last Updated: 2022-08-08T18:50:57+05:30

On 19th May 2022,  Gland Pharma announced its quarterly results for the last quarter of FY2022.

Key Highlights:

Q4FY22:

- The company's revenue from operations rose 24% to Rs.11030 million in the quarter under review from Rs.8878 million in the same quarter last fiscal.

- EBITDA stood at Rs.4136 million from Rs.3749 million in Q4FY21 saw a growth of 10%

- Gland Pharma reported a net profit of Rs.2859 million for Q4FY22 from Rs.2604 million in Q4FY21, seeing a drop by 10%

FY2022: 

- The company's revenue from operations rose by 27% to Rs.44007 million for the year from Rs.34629 million in FY2022.

- EBITDA stood at Rs.17341 million from Rs.14370 million in FY2021, seeing a growth of 21%

- Gland Pharma reported a Net profit of Rs.12117 million for FY2022, posting a growth of 22%.

Market-wise Revenue:

- 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 the US, Europe, Canada, and Australia accounted for 64% of revenue during Q4FY22 and witnessed a growth of 8% over the same period of the previous financial year. The Company registered 16% growth in its core markets during the financial year as compared to the previous year and accounted for 66% of revenue contribution. The strength of its wide portfolio helped the company to sustain growth.  

- Sale to the US market is comprised of products sold to both US customers and Indian customers for US markets. On a full-year basis, sales to Indian customers for US markets were ₹2,523 million. US market sales have seen a YoY revenue growth of 13% for the year, primarily driven by sales from new products along with the volume growth of old products.  

- India accounted for 18% of Q4FY22 revenue and witnessed a 137% Y-o-Y growth for the quarter. For the financial year, India's business grew by 60% and contributed 14% of the revenue. This is driven by both B2B and B2C India sales.  

- The rest of the World markets have seen a robust growth of 32% during Q4FY’22 compared to Q4FY’21. It has accounted for 19% of FY22 revenue and has seen a robust growth of 55% during the same period.

Research and development:

- The total R&D expense for Q4FY22 was ₹559 million which is 5.1% of revenue and for FY22 the total R&D expense was ₹2,273 million which is 5.2% of revenue.  

- During the quarter ended March 31, 2022, the Company has filed 2 ANDAs and received 3 ANDA approvals. 

- During the financial year 2022, the Company has filed 29 ANDAs, and 11 DMFs and received 19 ANDA approvals.  As of March 31, 2022, the Company along with its Partners have filed total of 311 ANDAs, out of which 252 were approved and 59 are pending approval.

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Capex:

Total Capex incurred during the quarter ended March 31, 2022, was ₹674 million. During the financial year, the Company incurred a Capex of ₹5,221 million.

Commenting on the results, Mr. 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 reported a strong revenue growth of 24% for Q4FY22 at ₹11,030 mn driven by growth across all geographies. On a full-year basis, we delivered revenue of ₹44,007 mn, a growth of 27%, and reported a PAT growth of 22% at ₹12,117 mn with a PAT margin at 26%. Our Gross R&D spend for the year of ₹2,273 mn is about 5.2% of revenue. Our investments in R&D are in line with our strategy to expand our product portfolio into complex injectables, we made 29 ANDA filings during the year up from 20 ANDA filings the previous year. We also started our new R&D center to expand our development capabilities during the year.” 

 


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About the Author

Shreya Anaokar is a Content Writer at 5paisa. She has completed her Master’s in Finance and Graduation in Statistics from the University of Mumbai. 

Disclaimer

Investment/Trading is subject to market risk, past performance doesn’t guarantee future performance. The risk of trading/investment loss in securities markets can be substantial. Also, the above report is compiled from data available on public platforms.

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