Glenmark's consolidated revenues grow 2.8% to Rs. 1,09,439 Mn in FY21. EBITDA growth of 22.7% to Rs. 20,844 Mn with margins of 19%. Consolidated Net Profit of Rs. 9,701 Mn with growth of 25% in FY21
MUMBAI, May 29, 2021 /PRNewswire/ --
Highlights for Q4 FY 2020-21
- India Business grew by 7.7 % YoY to Rs. 8,238 Mn.
- US Business recorded growth of 5.2% YoY to Rs. 8,012 Mn.
- API Business grew by 26.7% YoY to Rs. 3,311 Mn.
- EBITDA of Rs. 5,234 Mn grew by 12.4% YoY with margins of 18.3%.
- Net Debt reduction of Rs. 2,091 Mn in FY21.
Mumbai, India; May 28, 2021: Glenmark Pharmaceuticals Limited, a research-led global integrated pharmaceutical company, today announced its financial results for the fourth quarter and year ended March 31, 2021.
For the Fourth Quarter of FY 2020-21, Glenmark's consolidated revenue was at Rs. 28,599 Mn as against Rs. 27,675 Mn recording an increase of 3.3%.
Consolidated EBITDA grew by 12.4% to Rs. 5,234 Mn in the quarter ended March 31, 2021 as against Rs. 4,657 Mn. in the previous corresponding quarter.
Consolidated Net Profit was at Rs. 2,339 Mn for the quarter ended March 31, 2021 as compared to Rs. 2,203 Mn in the previous corresponding quarter, registering an increase of 6.2%.
For the year ended March 31, 2021, Glenmark's consolidated revenue was at Rs. 1,09,439 Mn as against Rs. 1,06,410 Mn, recording an increase of 2.8% over the previous corresponding period. Consolidated EBITDA for the fiscal year ended March 31, 2021 stood at Rs. 20,844 Mn as against Rs. 16,981 Mn, recording an increase of 22.7% in the previous corresponding period. Consolidated Net Profit grew by 25% to Rs. 9,701 Mn. for the year ended March 31, 2021, as against Rs. 7,760 Mn. in the previous year. Earnings Per Share (EPS) is at Rs. 34.38 as compared to Rs. 27.5 in the previous year.
"We delivered consistent performance during the year despite operational challenges due to the COVID19 pandemic. We led from the front in india's fight against the pandemic at its very onset, with our leading brand FabiFlu," said Glenn Saldanha, Chairman & MD, Glenmark Pharmaceuticals Ltd. He further added, "We have in place strategic levers to grow our businesses sustainably, with focus on strengthening our balance sheet."
1. GLENMARK PHARMACEUTICALS LTD. (GPL)
India
Sales from the formulation business in India for the Fourth Quarter of FY 2020-21 was at Rs. 8,238 Mn as against Rs. 7,648 Mn in the previous corresponding quarter, recording growth of 7.7% YoY.
Glenmark Consumer Care Business
Glenmark Consumer Care business continued to maintain strong growth momentum of 26% (excluding VWash sales) with sales of Rs 582.4 Mn in this quarter. Candid Powder continues to drive growth for this category recording value sales growth in excess of 30 % for the quarter and is the first brand in the Consumer Care Business to enter the "Rs100 cr" club. Other brands in this business including LaShield and Scalpe have also recorded growth in excess of 25 % for the quarter.
USA
Glenmark Pharmaceuticals Inc., USA registered revenue from the sale of finished dosage formulations of Rs. 8,012 Mn for the quarter ended March 31, 2021 as against revenue of Rs.7,619 Mn for the previous corresponding quarter, recording a growth of 5.2% YoY. On a Quarter on Quarter basis, the business recorded growth of 3.7 % in USD terms.
Africa, Asia and CIS Region (ROW)
For the Fourth Quarter of FY 2020-21, revenue from Africa, Asia and CIS region was Rs. 3,342 Mn as against Rs. 3,365 Mn for the previous corresponding quarter, recording decline of 0.7%.
Europe
Glenmark Europe's operations revenue for the Fourth Quarter of FY 2020-21 was at Rs. 4,223 Mn as against Rs. 4,116 Mn recording a growth of 2.6% YoY.
Latin America
Glenmark's revenue from its Latin American and Caribbean operations was at Rs. 1,299 Mn for the Fourth Quarter of FY 2020-21, as against Rs.1,769 Mn, recording an de-growth of 26.6 %.
API Business
For the Fourth Quarter of FY 2020-21, external sales for Glenmark Life Sciences was at Rs. 3,311 Mn as against Rs. 2,614 Mn, recording growth of 26.7% over the corresponding period last year.
For the entire year, external sales of Glenmark Life Sciences recorded revenue of Rs. 12,074 Mn as against Rs. 10,239 Mn in the previous financial year, recording growth of 17.9% over the corresponding period last year.
2. ICHNOS Sciences
Glenmark has invested Rs. 1,880 Mn in the fourth quarter of the financial year. Thus for the entire financial year, Glenmark invested Rs. 7,570 Mn in Ichnos Sciences as compared to Rs 8,190Mn in FY20.
For updates on the organisation and the pipeline, please log on to www.ichnossciences.com . The pipeline update for the fourth quarter is published
About Glenmark Pharmaceuticals
Glenmark Pharmaceuticals Ltd. (GPL) is a global research-led pharmaceutical company with presence across Generics, Specialty and OTC business with operations in over 50 countries. Glenmark's key therapy focus areas globally are respiratory, dermatology and oncology. It is ranked among the top 80 Pharma & Biotech companies of the world in terms of revenue (SCRIP 100 Rankings published in the year 2019). The company has been listed in the Dow Jones Sustainability Index (DJSI), under the category of emerging markets for the third consecutive year in a row. DJSI is one of the world's most respected and widely accepted sustainability benchmarks globally with only the top ranked companies in terms of Corporate Sustainability within each industry are featured in the index.
For more information, visit www.glenmarkpharma.com
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