Glenmark Pharma: Glenmark Pharma Q4 Net Loss Hits Rs 1,239 Crore
The Glenmark Pharma reported Q4 net loss of Rs.1239 cr and revenue up by 2% to Rs.3063.2cr from Rs.3000 cr in the past quarter. EBITA increased to 26.7% as Rs.504.2cr and EBITA Margin increased to 16.5% from 13.3% in the past year.
Glenmark Pharmaceuticals reported a widening of its consolidated net loss to Rs 1,238.6 crore for the March quarter, up from a net loss of Rs 549.4 crore in the same period last year.
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Revenue rose two percent year-on-year to Rs 3,063 crore, compared to Rs 3,000.5 crore in the previous year.
Earnings before interest, tax, depreciation, and amortization (EBITDA) increased by 26.7 percent to Rs 504.2 crore. The EBITDA margin expanded to 16.5 percent from 13.3 percent a year ago.
The Board recommended a dividend of Rs 2.5 per share on the equity share capital of the company for the financial year 2023-24, subject to approval by shareholders at the upcoming Annual General Meeting.
The India business grew by 12.9 percent to Rs 9,391 million. The Europe business grew by 0.7 percent to Rs 6,118 million. The Rest of the World (RoW) business grew by 9.7 percent to Rs 7,528 million. The North America business experienced a decline of 12.4 percent to Rs 7,557 million.
Chairman and Managing Director Glenn Saldanha commented, “This past year has been a period of significant transition and transformation for Glenmark. Our branded markets continued to deliver robust growth, particularly in Europe and other key international markets. While we encountered some headwinds in our US business, we remain optimistic about our ability to regain our growth trajectory in the coming year.”
He added, “We have made significant progress in advancing our strategy of building global brands. The successful commercialization of RYALTRIS, our novel allergic rhinitis treatment, in 34 markets worldwide is consistently gaining market share. Additionally, we have in-licensed two specialty products – Winlevi and Envafolimab. As we continue to move up the value chain and enhance our product mix, we are confident of achieving significant improvement in our operating margins going forward.”
Glenmark manufactures pharmaceutical formulations marketed in India and abroad, and conducts R&D on new chemical and biological entities. The company has 16 manufacturing facilities and seven R&D centers in India, the US, and other countries.
Narayana Healthcare: Narayana Healthcare Q4 Net Profit Rises 18% to Rs 195 Crore
The Narayana health care reported 18% profit in Q42024 as Rs.195 cr from Rs.165 cr in the past quarter.Revenue grew by 4.7% YoY to Rs.1279.4 cr from the Rs.1221.5 cr in the previous quarter.
EBITA rose to Rs.294.5 cr from Rs.275 cr and EBITA Margin expanded to 23% from 22.6% in the past quarter.
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Hospital chain Narayana Healthcare has reported a 17.7 percent increase in consolidated net profit for the March quarter, reaching Rs 195 crore, up from Rs 165 crore in the same period last year.
Revenue grew by 4.7 percent year-on-year to Rs 1,279.4 crore, compared to Rs 1,221.5 crore in the previous year.
Earnings before interest, tax, depreciation, and amortization (EBITDA) rose to Rs 294.5 crore from Rs 275 crore in the same period last year. The EBITDA margin expanded to 23 percent from 22.6 percent a year ago.
Cayman operating revenue for Q4 FY24 was Rs 2,528 million, reflecting a year-on-year growth of 3.4 percent from Rs 2,445 million in the corresponding period of the previous year.
Dr. Emmanuel Rupert, Managing Director and Group CEO of Narayana Hrudayalaya Limited, stated, “The current financial year exhibited strong momentum; we are pleased to report the highest-ever revenue and profitability margins for the financial year, which is on account of improvement in realizations, payor mix, and increased patient footfalls during the year. The performance improvement is supported by strong growth in business across our flagship units, other hospitals, and steady improvements in performance of our newer hospitals.”
The Board of Directors has recommended a final dividend of Rs 4 per share for the year ended March 31, 2024, subject to shareholder approval at the upcoming Annual General Meeting (AGM).
Additionally, the Board has resolved to seek enabling approval from shareholders to issue Debt Securities, including Non-Convertible Debentures (NCDs), up to Rs 1,200 crore in a financial year, in one or more series/tranches, denominated in Indian Rupees or any foreign currency on a private placement basis.
Narayana Health Insurance Limited has been formed to carry on the business of Health Insurance, with Rs 1,000 million infused to meet the minimum capital requirements as per the Insurance Regulatory and Development Authority of India (IRDAI). The firm received its license from IRDAI on January 3, 2024, and as of March 31, 2024, it is yet to commence operations.
Narayana Health operates a chain of multi-specialty, tertiary, and primary healthcare facilities. The company was founded in 2000 by renowned cardiologist Dr. Devi Shetty.
Torrent Pharma: Torrent Pharma Q4 Net Profit Jumps 57% to Rs 449 Crore, Declares Rs 6 Dividend
The Torrent Pharma company reported 57% Net profit in this quarter as Rs.449 cr from Rs.287 cr in the past quarter. Revenue Grew by 10% YoY to Rs.2745 cr compared to Rs.2452 cr in the past quarter. The EBITA increased to 21% to Rs.883 cr and Board has approve to raise Rs.5000 cr via QIP and not to exceeded this amount. The Revenue from India, US, Germany and Brazil were up in this quarter moved the boost for this Q4 Profit to 57%.
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On May 24, Torrent Pharma reported a 57 percent increase in its consolidated net profit for the March quarter, reaching Rs 449 crore, up from Rs 287 crore in the same period last year.
Revenue grew by 10 percent year-on-year to Rs 2,745 crore, compared to Rs 2,452 crore in the previous year.
Earnings before interest, tax, depreciation, and amortization (EBITDA) increased by 21 percent to Rs 883 crore.
The Board recommended the issuance of Equity Shares, including Convertible Bonds/Debentures, through Qualified Institutional Placement (QIP) and other modes for an amount not exceeding Rs 5,000 crore in the upcoming Annual General Meeting.
The Board also recommended a final dividend of Rs 6 (120 percent) per equity share of Rs 5 each. Previously, an interim dividend of Rs 22 (440 percent) per equity share was paid during the last quarter.
India revenues rose by 10 percent year-on-year to Rs 1,380 crore. According to AIOCD secondary market data, the Indian pharmaceutical market (IPM) growth for the quarter was 9 percent, while Torrent’s chronic business grew by 14 percent compared to IPM growth of 12 percent.
US business revenues declined by 6 percent year-on-year to Rs 262 crore, with constant currency revenues at $32 million, down by 7 percent. Growth was impacted by the lack of new product launches. As of March 31, 2024, 34 ANDAs were pending approval with the USFDA, and 4 tentative approvals were received. During the quarter, 6 ANDAs were approved, and 1 ANDA was filed.
In the Brazil market, revenues increased by 17 percent year-on-year to Rs 372 crore. For FY24, revenues were up by 20 percent to Rs 1,126 crore, with constant currency revenues at R$ 671 million, up by 12 percent.
Germany revenues rose by 11 percent year-on-year to Rs 280 crore, with constant currency revenues at €31 million, up by 8 percent. The growth momentum continued with incremental tender wins and better conversion of existing tenders.
Torrent manufactures branded and generic drugs, including tablets, capsules, and extended-release formulations. Its major markets include India, the US, Germany, and Brazil.
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