GLENMARK · Healthcare
Glenmark Pharmaceuticals Ltd. reported revenue of ₹3,434 cr for July to September 2024, +7.1% on the year and +5.9% on the quarter. It is the highest quarterly revenue in the last 6 quarters on record.
Operating profit (EBITDA) was ₹602 cr, a margin of 17.5%, +312 bps on the year and −60 bps on the quarter. Over the last 6 quarters the margin has ranged from −8.3% to 18.1%, averaging 12.1%. Operating costs grew +3.2% against revenue growth of +7.1%, so more of each rupee of sales reached operating profit.
The company swung to a net profit of ₹354 cr from a loss of ₹62.0 cr a year earlier, with earnings per share of ₹12.55.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
Depreciation fell while the business grew. Were asset lives changed?
Depreciation ₹120 cr, −14.9% on the year.
Source: Quarterly statements
Turned profitable from a loss a year ago.
Net profit ₹354 cr against a loss of −₹62.0 cr.
Source: Quarterly statements
Could not run on this quarter: Headline vs core profit, Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹3,207 cr | ₹2,507 cr | ₹3,063 cr | ₹3,244 cr | ₹3,434 cr | ₹3,388 cr | ₹3,256 cr | ₹3,264 cr | ₹6,047 cr | ₹3,901 cr | ₹3,771 cr | ₹4,018 cr |
| YoY | — | — | — | +7% | +7% | +35% | +6% | +1% | +76% | +15% | +16% | +23% |
| EBITDA margin | 14.4% | −8.3% | 16.5% | 18.1% | 17.5% | 17.7% | 17.2% | 17.8% | 39.0% | 22.3% | 20.2% | 20.0% |
| Other income, % of PBT | — | — | 63% | 7% | 8% | 7% | −4,513% | −309% | −122% | −26% | −47% | 10% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | — | — | — | 26% | 25% | 24% | 45% | 51% | 37% | 24% | 22% | 25% |
| Net profit | −₹62.0 cr | −₹331 cr | −₹1,214 cr | ₹340 cr | ₹354 cr | ₹348 cr | ₹4.0 cr | ₹47.0 cr | ₹610 cr | ₹403 cr | ₹301 cr | ₹483 cr |
| YoY | — | — | — | +97% | — | — | — | −86% | +72% | +16% | +7,425% | +928% |
| Core profit YoY | — | — | — | +136% | +118% | — | +81% | −9% | +396% | +59% | +55% | +47% |
| EPS | −₹2.90 | −₹12.45 | −₹43.17 | ₹12.06 | ₹12.55 | ₹12.33 | ₹0.16 | ₹1.66 | ₹21.63 | ₹14.29 | ₹10.68 | ₹17.11 |
| Flags | · | · | 1 | 1 | 1 | 1 | 1 | ✓ | ✓ | 1 | 2 | 1 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Glenmark Pharmaceuticals Ltd. reported revenue of ₹3,434 cr (+7.1% on the year) and net profit of ₹354 cr (— on the year) for July to September 2024.
Profit before other income, exceptional items and tax moved +118.1% on the year, against — for reported profit.
1 check raised a question: Depreciation fell while the business grew. Were asset lives changed?
No. FinMinutes reports what was filed and the questions the numbers raise. It does not recommend buying, selling or holding any security.
Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.