A mid-cap firm, the company has a market value of Rs. 26,534 Cr. Tuesday’s stock price touched a 20% upper circuit at Rs. 1,611.05 per share after starting the day at Rs. 1500. The explanation for these Q1 FY24 outcomes.
Gland Pharma’s revenue rose by 33% YoY from Rs. 931.3 Cr in Q1 FY23 to Rs. 1246.2 Cr in Q1 FY24 and a 51% increase in revenue QoQ from Rs. 824 Cr in Q4 FY23 to Rs. 1246.2 Cr in Q1 FY24. Earning Before Interest & Tax Depreciation and Amortization (EBITDA) increased by 10% from Rs. 2,69.9 Cr in Q1 FY23 to Rs. 298.2 Cr in Q1 FY24.
Net profits increased by 147% quarter on quarter from RS. 78.7 Cr in Q4 FY23 to Rs. 194.1 Cr in Q1 FY24 but a 15% decline in net profit year on year from Rs. 2,29.2 Cr in Q1 FY23 to Rs. 194.1 Cr in Q1 FY24.
The company’s Spending on research and development has improved by 11% from Rs. 41 Cr in Q1 FY23 to Rs. 45.7% in Q1 FY24. During the same quarter, the company filled 5 ANDAs ( Abbreviated New Drug Application) and received approval for 9 ANDAs.
As of June 2023, Parmoters own 57.86%, DIIs hold 23.38%, FIIs hold 2.80%, and Retail & Others hold a 15.96% stake in this company.
Since its establishment in Hyderabad, India, in 1978, Gland Pharma has developed from a contract manufacturer of low-volume liquid parenteral products to one of the largest and fastest-growing manufacturers of generic injectables, with a presence in more than 60 nations worldwide, including the United States, Europe, Canada, Australia, India, and other markets.
Written By Sheshadri N
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