Glenmark Pharmaceuticals Ltd Share Price – NSE /  BSE

Pharmaceuticals, Small Cap

Glenmark Pharmaceuticals Ltd dropped for a fifth straight session today. The stock is quoting at Rs 1526.05, down 0.5% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.34% on the day, quoting at 23452.35. The Sensex is at 77362.6, down 0.28%.Glenmark Pharmaceuticals Ltd has eased around 11.11% in last one month.Meanwhile, Nifty Pharma index of which Glenmark Pharmaceuticals Ltd is a constituent, has eased around 6.32% in last one month and is currently quoting at 21752, down 0.42% on the day. The volume in the stock stood at 9.98 lakh shares today, compared to the daily average of 6.27 lakh shares in last one month.

The benchmark November futures contract for the stock is quoting at Rs 1533.95, down 0.46% on the day. Glenmark Pharmaceuticals Ltd jumped 94.35% in last one year as compared to a 19.08% rally in NIFTY and a 37.04% spurt in the Nifty Pharma index.

The PE of the stock is 26.72 based on TTM earnings ending June 24.

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Revenue from operations increased 2.29% year on year (YoY) to Rs 3,133.79 crore in the quarter ended 30 September 2024.

Profit before tax stood at Rs 472.57 crore in September 2024 quarter compared with pre-tax loss of Rs 124.35 crore posted in corresponding quarter previous year.

EBITDA stood at Rs 601.9 crore in second quarter of FY25, registering a growth of 30.2% on YoY basis. During the quarter, EBITDA margin improved to 17.5% as against 14.4% in Q2 FY24.

In India, sales from the formulation business jumped 13.9% to Rs 1,281.7 crore in Q2 FY25 as compared with Rs 1,125.2 crore recorded in corresponding quarter previous year.

Accordingly, as per IQVIA, Glenmark’s India formulation business recorded a growth of 12.7% in Q2 FY25 and 13.1% as per MAT September 2024, compared to the overall market growth of 7.6% in both Q2 FY25 and MAT September 2024.

The North America business recorded revenues from the sale of finished dosage formulations of Rs 740.5 crore ($88.4 million) for the second quarter of FY25, down 1.2% YoY. During the quarter, the North America business contribution was at 21.6%.

During Q2 FY25, revenues from the RCIS, LATAM, MEA & APAC (RoW) region were Rs 704.1 crore as against Rs 733.9 crore for the previous corresponding quarter, recording a decline of 4.1%.

Glenmark Europe’s operations revenue for the Q2 of FY 2024-25 increased 14.6% YoY to Rs 687.4 crore. The company’s European operations continued their strong trajectory, driven by a robust uptick of the branded business and sustained growth across all key markets in the region.

Glenn Saldanha, chairman and managing director, Glenmark Pharmaceuticals, said, “This quarter, we have maintained a strong growth trajectory, driven by robust performances in the India and Europe markets. Our flagship respiratory brand, Ryaltris, continues to perform well across all key regions, reaffirming its position as a leading treatment option. Additionally, we have strategically in-licensed innovative products in our priority therapeutic areas, further strengthening our commitment to addressing unmet medical needs and improving patient outcomes.

Our novel biologic asset, ISB 2001, developed by Ichnos Glenmark Innovation (IGI), has shown promising efficacy and safety in Phase 1 trials, and we look forward to presenting these encouraging first-time data at the 66th American Society of Hematology (ASH) Annual Meeting next month.”

Glenmark Pharmaceuticals is a global innovation-driven pharmaceutical company with presence across specialty, generics and OTC businesses.

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Net profit of Glenmark Pharmaceuticals reported to Rs 354.21 crore in the quarter ended September 2024 as against net loss of Rs 81.95 crore during the previous quarter ended September 2023. Sales rose 7.59% to Rs 3400.50 crore in the quarter ended September 2024 as against Rs 3160.69 crore during the previous quarter ended September 2023.

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Net profit of Glenmark Pharmaceuticals rose 96.81% to Rs 595.06 crore in the quarter ended September 2024 as against Rs 302.35 crore during the previous quarter ended September 2023. Sales rose 19.56% to Rs 2594.89 crore in the quarter ended September 2024 as against Rs 2170.40 crore during the previous quarter ended September 2023.

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