Q4FY24 Quarterly & FY24 Annual Result Announced for Gland Pharma Ltd.
Pharmaceuticals company Gland Pharma announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Consolidated revenue surged 96% YoY to Rs 15,375 million. Consolidated EBITDA soared 113% YoY to Rs 3,587 million. Consolidated EBITDA margin was at 23% versus 21% in Q4FY23. Base business (ex-Cenexi) revenue grew 50% YoY to Rs 11,737 million. Base business (ex-Cenexi) EBITDA jumped 156% YoY to Rs 4,306 million. Base business (ex-Cenexi) EBITDA margin expanded to 37% in Q4FY24 from 21% in Q4FY23. FY24 Financial Highlights: Consolidated revenue climbed 56% YoY to Rs 56,647 million. Consolidated EBITDA rose 30% YoY to Rs 13,331 million. Consolidated EBITDA margin stood at 24%, a decline of ~400 basis points due to Cenexi integration. Base business (ex-Cenexi) revenue increased 15% YoY to Rs 41,769 million. Base business (ex-Cenexi) EBITDA jumped 38% YoY to Rs 14,142 million. Base business (ex-Cenexi) EBITDA margin stood at 34% against 28% in FY23. The Board recommends a final dividend of Rs 20 per equity share for the fiscal year ending March 31st, 2024, subject to the approval of our shareholders. Commenting on the results, Srinivas Sadu, MD & CEO of Gland Pharma, said, “We are delighted to close out the last quarter and FY24 with positive results. This year marked a significant rebound for our base business, and we began an exciting new chapter as we completed our first international acquisition, Cenexi, in Europe. Despite the dynamic business landscape, we've shown resilience and delivered a performance that positions us well for continued growth and success. We see continued momentum in this segment and are optimistic about its future opportunities. The strategic rationale behind Cenexi’s acquisition remains intact, and we expect it to deliver significant value as we move forward.” Result PDF22-05-2024