Gland Pharma announces first-ever post-listing dividend, shares jump over 10%

The shares hit an intraday high of up to 10.9% at ₹1,989 apiece on Thursday, May 23. At 11.25 am, the scrip was trading at ₹1,879, up 4.8%, on the NSE. It was trading 4.7% higher at ₹1,881 on the BSE.

Gland Pharma Limited, a generic injectable-focused pharmaceutical company, reported a 145% increase in its consolidated net profit to ₹192.4 crore for the fourth quarter of FY24. In the year-ago period, the net profit was ₹78.7 crore.

The revenue from operations stood at ₹1,537.5 crore in March 2024, up 96% from ₹785 crore from the corresponding period last year.

The company's EBITDA (earnings before interest, taxes, depreciation, and amortisation) for the quarter under review was at ₹358.7 crore, an increase of 113% year-on-year. The EBITDA margin was 23%.

For the entire FY24, consolidated net profit declined 1% to ₹772.5 crore, while revenue increased 56% to ₹5,664.7 crore.

Q4 FY24 market wise performance

• USA: ₹878.4 crore (+83% YoY)
• Europe: ₹268.5 crore (+727% YoY)
• Canada, Australia and New Zealand: ₹57.8 crore (+58% YoY)
• India: ₹52.6 crore (+19% YoY)
• Rest of the world: ₹280.2 crore (+64% YoY)

Srinivas Sadu, MD and CEO of Gland Pharma, said, "We are delighted to close out the last quarter and FY24 with positive results. This year marked a significant rebound for our base business, and we began an exciting new chapter as we completed our first international acquisition, Cenexi, in Europe".

Established in 1978 in Hyderabad, Gland Pharma manufactures injectables, including vials, pre-filled syringes, ampoules, lyophilised vials, infusions, dry powders, oncology, and provides ophthalmic solutions.