Glenmark's consolidated revenues grow 2.8% to Rs. 1,09,439 Mn in FY21

Mumbai (Maharashtra) [India], May 31 (ANI/PRNewswire): EBITDA growth of 22.7 per cent to Rs 20,844 Mn with margins of 19 per cent. Consolidated Net Profit of Rs 9,701 Mn with growth of 25 per cent in FY21.

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 per cent.

Consolidated EBITDA grew by 12.4 per cent 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 per cent.

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 per cent 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 per cent in the previous corresponding period. Consolidated Net Profit grew by 25 per cent 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.

"We have in place strategic levers to grow our businesses sustainably, with focus on strengthening our balance sheet," he further added.

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 per cent YoY.

Glenmark Consumer Care Business

Glenmark Consumer Care business continued to maintain strong growth momentum of 26 per cent (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 per cent 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 per cent 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 per cent YoY. On a Quarter on Quarter basis, the business recorded growth of 3.7 per cent 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 per cent.

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 per cent 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 per cent.

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 per cent 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 per cent 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.

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