Gland Pharma Q3 PAT up 32.5% yoy at Rs204.11cr on top line expansion

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Gland Pharma reported 33.05% growth yoy in Dec-20 quarter consolidated revenues at Rs859.42cr. The business growth drivers for Gland Pharma were new product launches, geographical expansion of business and an expansion in volumes of existing portfolio. During the quarter, Gland Pharma filed for 12 ANDAs and 6 ANDAs were approved.


For the Dec-20 quarter, the consolidated operating profits were up 27.58% at Rs239.27cr. The company actually had a more than proportionate rise in cost of materials consumed due to persistent supply chain disruptions. As a result of higher cost of materials, the OPM contracted from 29.03% in the Dec-19 quarter to 27.84% in Dec-20 quarter.


Consolidated Profit after tax (PAT) for the Dec-20 quarter was up 32.45% at Rs204.11cr on better operational performance in the quarter, led by volume growth. PAT margins fell marginally from 23.86% in Dec-19 to 23.75% in Dec-20.


Financial highlights for Dec-20 compared yoy and sequentially











Gland Pharma

Rs in Crore

Dec-20

Dec-19

YOY

Sep-20

QOQ

Total Income (Rs cr)

₹ 859.42

₹ 645.94

33.05%

₹ 831.50

3.36%

Operating Profit (Rs cr)

₹ 239.27

₹ 187.54

27.58%

₹ 273.04

-12.37%

Net Profit (Rs cr)

₹ 204.11

₹ 154.10

32.45%

₹ 218.86

-6.74%

Diluted EPS (Rs)

₹ 12.82

₹ 9.95

₹ 14.12

OPM

27.84%

29.03%

32.84%

Net Margins

23.75%

23.86%

26.32%

 

Key takeaways from the Dec-20 quarter results


  • In terms of geographical mix of revenues, revenues from India were up 25% while revenues from the rest of the world were almost up 3-fold on a smaller base. The core market of the US and Europe saw 24% growth on a yoy basis and accounts for over 70% of the total revenues.

  • In the nine months to Dec-20, Gland Pharma has filed 19 ANDAs, 5 DMFs and got 24 ANDA approvals. It spent Rs.91.5 crore on R&D expense which is nearly 4% of the total turnover in the nine-month period.

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( With inputs from indiainfoline)

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