Neutral Glenmark Pharma; target of Rs 580: Motilal Oswal
Motilal Oswal recommended Neutral rating on Glenmark Pharma with a target price of Rs 580 in its research report dated May 22, 2023.25-05-2023
25-05-2023
GLENMARK PHARMACEUTICALS LTD. - 532296 - Management Discussion & Analysis
Glenmark Pharmaceuticals Ltd has informed BSE regarding "Management Discussion & Analysis".24-05-2023
We should be in a position to be net debt free by 2026: VS Mani, Glenmark Pharma
So first and foremost at the outset, the Q4 was a decent quarter. In terms of our sales growth, we did about Rs 3370 crores and almost 11.7% growth and EBITDA margin of almost 17.9%. I think the coming year we are quite optimistic about touching about 19-20% based on a couple of things; one obviously is we expect the revenue to grow at about 10-11%.23-05-2023
Q4FY23 Quarterly & FY23 Annual Result Announced for Glenmark Pharmaceuticals Ltd.
Glenmark Pharmaceuticals announced Q4FY23 & FY23 results: Q4FY23: ROW Business grew by 25.1% YoY to Rs 6,856 million Europe Business grew by 22.3% YoY to Rs 6,078 million North America Business recorded growth of 15.3% YoY to Rs 8,507 million India Business recorded a decline of 6.4% YoY to Rs 8,284 million EBITDA was at Rs 6,050 million, with a margin of 17.9% Consolidated revenue was at Rs 33,737 million vs Rs 30,191 million recording an increase of 11.7% YoY EBITDA was Rs 6,050 million in Q4FY23, as compared to Rs 4,634 million in Q4FY22, registering growth of 30.5%. EBITDA margin for Q4FY23 was 17.9 %. Reported net loss of Rs 4,031 million for Q4FY23 on account of an exceptional loss of Rs 7,997 million, primarily on account of the settlement of the litigation related to generic Zetia in the U.S. FY23: Consolidated revenue was at Rs 1,29,901 million as against Rs 1,23,049 million, recording an increase of 5.6 % over FY22 EBITDA for FY23 stood at Rs 22,784 million as against Rs 23,203 million in FY22 EBITDA margin for FY 2022-23 was at 17.5% Net Profit (PAT) was at Rs 3,774 million for FY23, as against Rs 9,936 million in FY22. The PAT for FY23 was lower on account of an exceptional loss of Rs 7,659 million primarily on account of the settlement of the litigation related to generic Zetia in the U.S. “We delivered yet another year of robust performance, despite the challenging global macro-economic environment. Our India business recorded double-digit growth in secondary sales. The North American business showed a strong recovery, and the EU and RoW markets did phenomenally well. We continued to make headway in launching Ryaltris®, our first globally branded specialty product. Additionally, we initiated the Proof-of-Concept studies for four of our clinical oncology assets, which are part of the Glenmark/Ichnos pipeline,” said Glenn Saldanha, Chairman and Managing Director, Glenmark Pharmaceuticals. He further added, “We look forward to continue this momentum in the coming year with double-digit revenue growth and significant improvement in EBITDA margins.” Result PDF22-05-2023
Glenmark Pharma expects at least one out-licensing deal this year
The company also projected for healthy growth in the India region and progress in remediation efforts at manufacturing sites in the United States and India22-05-2023
GLENMARK PHARMACEUTICALS LTD. - 532296 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
Pursuant to the Regulation 30 and 46 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015, we hereby confirm that we have uploaded audio recording of Q4 of FY 2022-23 Earnings Call held on 22nd May, 2023 on the website of the Company.22-05-2023
Glenmark Pharmaceuticals Ltd. Results Earnings Call for Q4FY23
Conference Call with Glenmark Pharmaceuticals Ltd. Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.22-05-2023
GLENMARK PHARMACEUTICALS LTD. - 532296 - Disclosure Of Related Party Transactions For The Half Year Ended 31St March, 2023
Pursuant to Regulation 23(9) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are submitting herewith the disclosure of Related Party Transactions for the half year / six months ended 31st March, 2023.20-05-2023
Glenmark Pharma reports net loss of 428 crore in Q4FY23 on weak domestic sales, dividend declared
The Mumbai-based bulk and generic drugmaker's revenue from operations in the January-March quarter came in at 3,373.7 crore, registering a rise of 11.7 per cent, compared to 3,019.1 crore in the year-ago period.19-05-2023
GLENMARK PHARMACEUTICALS LTD. - 532296 - Announcement under Regulation 30 (LODR)-Change in Management
Re-appointment of Mr. V.S. Mani (DIN- 01082878) as Executive Director & Global Chief Financial Officer of the Company for a further period of 3 years with effect from 29th May, 2023.19-05-2023