Glenmark Pharma Q4 Review - Stable Numbers; API Listing Next Trigger: ICICI Direct
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ICICI Direct Report
Glenmark Pharmaceutical Ltd.'s Q4 revenues grew 3.3% YoY to Rs 2860 crore.
Domestic sales grew 7.7% YoY to Rs 824 crore. U.S. sales grew 5.2% to Rs 801 crore led by new launches.
Europe business grew 2.6% YoY to Rs 422 crore amid enhanced lockdown measures.
Rest of world markets de-grew 0.7% YoY to Rs 334 crore whereas active pharmaceutical ingredient segment grew 26.7% YoY to Rs 331 crore.
Latin America market de-grew 26.6% YoY to Rs 130 crore due to a challenging environment amid the pandemic.
Ebitda margins improved 148 basis points YoY to 18.3% mainly due to better gross margins partly offset by higher other expenditure.
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