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 INR 588 crores.
- The company's EBITDA for Q1 FY25 stood at INR 165 crores, up 14.1% quarter-on-quarter, with EBITDA margins at 28%, within the guided range.
- The CDMO segment showed strong growth, with revenues increasing by 20.2% quarter-on-quarter to INR 43 crores.
- The company remains debt-free and generated strong free cash flow of INR 121 crores during Q1 FY25.
- Glenmark Life Sciences Ltd (BOM:543322) has a robust pipeline with 532 DMF and CEP filings, including high-potency APIs and synthetic small molecules.
- 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.
- Working capital for Q1 FY25 was high at 167 days, with expectations of it inching up further due to increased credit terms negotiated with Nirma Pharma.
- The company faces some pricing pressure in the market, although it is described as normal erosion.
- CapEx for FY25 is projected to be high, between INR 300 crores to INR 350 crores, with additional significant investments expected for the Solapur facility.
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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