Gland Pharma share rose nearly 15 per cent to hit a fresh 52-week high of Rs 3512.20 on BSE today after the company reported a 23 per cent rise in its consolidated net profit in Q4. The company reported a consolidated net profit of Rs 260.4 crore for the quarter ended March 31 against net profit of Rs 194.7 crore in Q4 FY20.
The stock ended 8.74 per cent higher at Rs 3331.55 against the previous close of Rs 3063.85. The stock has gained 43 per cent since the beginning of this year. Gland Pharma share stands higher than 5 day, 10 day, 20 day, 50 day, 100 day, and 200 day moving averages. Market cap of the firm rose to Rs 54,501.80 crore.
Revenue from operations grew 40 per cent to Rs 887.7 crore in the last quarter against Rs 635.2 crore a year ago.
Total expenses stood at Rs 586 crore for the quarter ended March 31, up 39.5 per cent against Rs 419.9 crore in the year-ago period. Total R&D expense for the financial year 2021 stood at Rs 1,22 crore as compared to Rs 92.2 crore in the previous financial year.
The company registered a stable growth in markets of USA, Europe, Canada and Australia during the quarter and for the full year ended March 31, 2021 on back of new launches and volume growth in the existing portfolio supported by the increased capacity.
The company also informed that it is also enhancing its production capacity for APIs in Vizag and adding capacity in its oncology facility to take care of the planned launches in forthcoming years. Additionally, the company will invest in the drug substance and biologics facility for creating robust infrastructure in vaccine and bio-similar space.
"Overall the business has performed well and grew steadily during these challenging times. For the financial year 2020-21, we witnessed revenue growth of 32% and net profit growth of 29% compared to the previous year. The company continued to maintain a healthy margin profile with EBITDA margin at 40% and PAT margin at 28%," said Mr. Srinivas Sadu, MD & CEO of Gland Pharma.
"New product launches, volume growth in our existing portfolio, along with geographic expansion have led to strong business growth across all markets. Our new Vaccine business is expected to accelerate our long-term strategy of entering into Biosimilar space," he added.
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