Glenmark Pharma - Stable Q3 Numbers; Margin Expansion To The Fore: ICICI Direct 
A techncian at Glenmark Pharma’s R&D lab (Image: Company website)

Glenmark Pharma - Stable Q3 Numbers; Margin Expansion To The Fore: ICICI Direct 


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ICICI Direct Report

Glenmark Pharmaceutical Ltd.’s Q3 revenues grew 1.9% YoY to Rs 2787 crore with 11.8% YoY growth in domestic sales to Rs 882 crore supported by Fabiflu (favipiravir) sales being partly offset by 2.4% decline in U.S. to Rs 780 crore.

Europe business grew just 1.4% YoY to Rs 313 crore amid enhanced lockdown measures.

Rest of World markets de-grew 1.6% YoY to Rs 336 crore whereas active pharmaceutical ingredient segment grew 22.1% YoY to Rs 320 crore.

Ebitda margins improved 293 basis points YoY to 19.0% mainly due to lower other expenditure, better gross margins.

Click on the attachment to read the full report:

ICICI Direct Glenmark Q3FY21 Result Update.pdf


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