Q1 2025 Gland Pharma Ltd Earnings Call Transcript
Key Points
- Gland Pharma Ltd (NSE:GLAND) reported a 16% year-on-year growth in quarterly revenue, reaching INR14,017 million.
- The US market showed strong performance with a 27% increase in revenues, driven by healthy volume share of existing products and new launches.
- The company's core markets achieved a 25% revenue growth in Q1 FY25, constituting 76% of total revenues.
- Gland Pharma Ltd (NSE:GLAND) filed eight ANDAs and received approval for seven ANDAs during the quarter.
- The biologic CDMO business is experiencing positive momentum, with the Genome Valley facility attracting advanced-stage interest for contract manufacturing of monoclonal antibodies and novel plasma-based proteins.
- Consolidated EBITDA margins for the quarter were 19%, down from 25% in Q1 FY24, impacted mainly by Cenexi's negative EBITDA.
- The rest of the world markets contributed 20% of revenue in Q1 FY25, a 3% decrease compared to Q1 FY24.
- The Indian market experienced a 19% decrease in revenue compared to Q1 FY24.
- The company received two and three Form 483 observations from the US FDA inspections at its Hyderabad manufacturing sites.
- Cenexi recorded a negative EBITDA of INR286 million for the quarter, and is still a few quarters away from a complete turnaround.
Ladies and gentlemen, good day, and welcome to the Q1 FY25 conference call of Gland Pharma Limited. (Operator instructions) Please note that this conference is being recorded.
I now hand the conference over to Ankit from Gland. Thank you, and over to you, Ankit.
Thank you, Sagar. Good evening, everyone, and we welcome you to Gland Pharma earnings conference call for Q1 FY25. My name is Ankit, and I head investments, M&A and corporate strategy at Gland. Joining me today on the call are Mr. Srinivas Sadu, our Executive Chairman and CEO; Mr. Alain, the Chief Executive Officer of Cenexi, our European CDMO business; and Mr. Ravi Mitra, our CFO.
Together today, we'll discuss our business performance and address any questions that you may have. We will begin with the business highlights and Mr. Sadu followed by an overview of the Cenexi's performance from Alain,.And lastly, the Group financial review by Ravi.
Before we proceed, I'd like to remind everyone that some of the statements made today will be
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