Gland Pharma opened today 4% higher at Rs.2900 and went on to hit a new high at Rs.3061, going up over 9.5%. Its 20% UC for the day is at Rs.3351.40.
The market is enthused with its earnings for Q4FY21 with revenue from operations rising 40% (YoY) at Rs.888 crore and net profit coming in at Rs.260 crore, up 34%.
EBITDA was at Rs.375 crore, up 31% while margins fell from 42% to 40%.
The company registered a stable growth in markets of USA, Europe, Canada and Australia during the quarter and for the full year ended March 31, 2021 on back of new launches and volume growth in existing portfolio supported by the increased capacity. Its Rest of the World showed a massive 196% rise in revenue which was driven by new partnerships and increased penetration geographically. The company has entered new markets like Singapore, Israel, Saudi Arabia, and CIS Countries.
In Domestic markets, it ramped up Remdesivir supply and maintained sufficient supply of Enoxaparin to support the requirement of COVID patients.
As at March 31, 2021, the company has filed total 284 ANDAs, out of which 234 were approved and 50 are pending approval.
Total Capex incurred during the financial year ended March 31, 2021 was Rs.in previous year. It is expanding its sterile injectable facility located in Hyderabad and increasing production capacity for APIs in Vizag, adding capacity in its oncology facility to take care of the planned launches in forthcoming years. Additionally, the company said that it will be investing in the drug substance and biologics facility for creating robust infrastructure in vaccine and bio-similar space.