Glenmark Pharma Q3 Results: Smart Recovery with ₹ 348 Crore Net Profit Driven by Higher Revenues
Business and Industry Overview:
Glenmark Pharmaceuticals is a global research-driven pharmaceutical company. It was founded in 1977 by Gracias Saldanha as a company that makes generic drugs and active pharmaceutical ingredients. It is a research-focused global pharmaceutical company involved in branded, generic, and OTC products. The company focuses on Respiratory, Dermatology, and Oncology therapies. It has four research and development centres and ten top-quality manufacturing facilities on five continents, operating in over eighty countries. By using its strengths in innovation and research, the company aims to challenge traditional treatments and find new solutions that truly help patients around the world. By 2008, Glenmark was the fifth-largest pharmaceutical company in India.
India is the largest global supplier of generic drugs and is well-known for its affordable vaccines and generic medications. The Indian pharmaceutical industry is currently ranked third in the world in terms of pharmaceutical production by volume. Over the past nine years, this sector has flourished, with a compound annual growth rate (CAGR) of 9.43%. Key segments within the Indian pharmaceutical industry include generic drugs, over-the-counter medications, bulk drugs, vaccines, contract research and manufacturing, biosimilars, and biologics. India has the highest number of pharmaceutical manufacturing facilities that comply with the standards set by the U.S. Food and Drug Administration (USFDA). Glenmark Pharmaceuticals is the e 14th largest and fastest growing pharmaceutical company in India and 15th largest generic company in the United States by prescriptions filled & 5th largest generic company in Europe.
Latest Stock News:
The company reported consolidated revenue of Rs. 33,876 million which is YoY growth of 35.1% for Q3FY25. Its Europe Business YoY growth of 14.8% and India Business at Rs. 10,637 million. The EBITDA of this quarter is at Rs. 6,002 million , with EBITDA margin of 17.7% The PAT is at Rs. 3,480 Mn with a margin of 10.3%. Glenmark Pharmaceuticals announced the launch of Lacosamide Oral Solution, 10 mg/mL in December 2024. Lacosamide is a medication used to treat and prevent seizures, also known as convulsions, in individuals with epilepsy. This has helped the company with a surge in its price following its announcement in December 2024.
Segmental information:
- Branded Generics: he company has a strong presence in emerging markets, concentrating on its core therapeutic areas.
- Dermatology: It is a market leader with the Candid anti-fungal range, which is a significant contributor to its success.
- Respiratory: The company is expanding its offerings in respiratory care by providing affordable inhalers and treatments.
- Oncology: There is a growing pipeline of cancer treatments designed to enhance its oncology portfolio.
- Consumer Healthcare: The company offers over-the-counter (OTC) products such as Scalpe+ anti-dandruff shampoo.
Subsidiary Information:
- Glenmark Holding SA La Chaux-de-Fonds
- Glenmark Dominicana SRL
- Glenmark Pharmaceuticals Egypt S.A.E.
- Glenmark Pharmaceuticals Colombia SAS, Colombia
- Glenmark Pharmaceuticals FZE
- Glenmark Pharmaceuticals (Australia) Pty Ltd
- Glenmark Pharmaceuticals Kenya Ltd
- Glenmark Pharmaceuticals Malaysia Sdn Bhd
- Glenmark Pharmaceuticals B.V.
- Glenmark Pharmaceuticals Distribution s.r.o.
- Glenmark Pharmaceuticals Europe Ltd.
- Glenmark Pharmaceuticals (Europe) R&D Ltd.
- Glenmark Pharmaceuticals Singapore Pte. Ltd.
- Glenmark Pharmaceuticals S.R.O.
- Glenmark Philippines Inc.
- Glenmark Pharmaceuticals (Thailand) Co. Ltd.
- Glenmark Pharmaceuticals (Nigeria) Ltd
- Glenmark Pharmaceuticals Venezuela, C.A
- Glenmark South Africa Proprietary Limited
- Glenmark Pharmaceuticals South Africa Proprietary Limited
- Glenmark Life Sciences Limited
- Glenmark Arzneimittel GmbH
- Glenmark Farmaceutica Ltda
- GLENMARK PHARMACEUTICALS SP. Z O.O
- VISO Farmaceutica S.L.U
- Glenmark Pharmaceuticals SK SRO
- Glenmark Pharmaceuticals Inc.
- Glenmark Uruguay S.A.
- Glenmark Pharmaceuticals Canada Inc.
- Glenmark Pharmaceuticals Nordic AB
- Glenmark Ukraine LLC
Q3 Highlights:
- Consolidated Revenue of Rs. 33,876 million with YoY growth of 35.1%
- Europe Business YoY growth of 14.8%
- India Business at Rs. 10,637 million
- EBITDA at Rs. 6,002 million, with EBITDA margin of 17.7%
- PAT at Rs. 3,480 million with a margin of 10.3% Other Highlights
- R&D Expenditure of Rs. 2,249 Mn (6.6% of revenue)
Financial Summary:
| Amount in ₹ Cr | Q3 FY24 | Q3 FY25 | FY23 | FY24 |
| Revenue | 2,507.00 | 3,388.00 | 11,583 | 11,813 |
| Expenses | 2,715 | 2,787 | 9,948 | 10,618 |
| EBITDA | -209 | 600 | 1,635.00 | 1,195.00 |
| OPM | -8% | 18% | 14% | 10% |
| Other Income | 87 | 31 | -10 | 336 |
| Net Profit | -331.00 | 348.00 | 377 | -1,434 |
| NPM | -13.20 | 10.27 | 3.25 | -12.14 |
| EPS | -12.45 | 12.33 | 24% | -5% |