Q1 2025 Glenmark Life Sciences Ltd Earnings Call Transcript
Key Points
- Glenmark Life Sciences Ltd (BOM:543322) reported a 9.7% quarter-on-quarter increase in revenue for Q1 FY25, reaching INR588 crores.
- The company achieved a 14.1% quarter-on-quarter growth in EBITDA, with margins at 28%, aligning with their guided range.
- The CDMO segment showed strong performance, with revenues growing by 20.2% quarter-on-quarter.
- The company remains debt-free and generated strong free cash flow of INR121 crores during Q1 FY25.
- Glenmark Life Sciences Ltd (BOM:543322) has a robust pipeline with 532 DMF and CEP filings, including five new products added in Q1 FY25.
- The discontinuation of PLI benefits and an unfavorable product mix led to a decline in gross margins to 51.1% from 55.5% in Q4 FY24.
- The Gujarat Pollution Control Board issued a closure notice to one of the company's plants due to pollution issues, potentially impacting production.
- The company faces challenges in maintaining gross margins due to product-specific issues and market dynamics.
- Working capital days increased to 167, and the company anticipates further increases due to extended credit terms with Nirma Pharma.
- The company expects significant CapEx outlays of INR300-350 crores for FY25 and similar amounts for FY26, which may impact cash reserves.
Good morning, ladies and gentlemen. Welcome to the Glenmark Life Sciences Q1 FY25 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Ms. Soumi Rao from Glenmark Life Sciences. Thank you, and over to you, ma'am.
Thank you. Good morning, everyone. I welcome you all to this early morning earnings call of Glenmark Life Sciences Limited for the quarter ended June 30, 2024. From Glenmark Life Sciences, we have with us Dr. Yasir Rawjee, our Managing Director and CEO, and Mr. Tushar Mistry, our CFO.
Our Board has approved the results for the quarter ended June 30, 2024. We have released the same to the stock exchanges and updated it on our website. Please note that the recording and the transcript of this call will be available on the website of the company.
Now I'd like to draw your attention to the fact that some of the information shared as part of this call, especially
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