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Revenue rose 7% YoY to Rs 3,434 crore in Q2FY25.
EBITDA grew 30.2% YoY to Rs 602 crore, while the EBITDA margins stood at 17.5%.
Shares of Glenmark dropped 0.44% to close at Rs 1531.70 on BSE, the benchmark Sensex declined 0.14% to end at 77,580.31. The results were announced after market hours.
India business grew by 13.9% YoY to Rs. 1282 crore led by continuous improvement in market share across cardiac, dermatology and respiratory therapeutic segments.
Glenmark’s India business is now ranked 13th with a market share of 2.22% as per market research firm IQVIA MAT September 2024.North America business declined 1.2% to Rs. 750 crore. The company said it plans to launch 3-4 products in Q3 FY25.Europe rose by 14.6% YoY to Rs. 687.4 crore led by sustained growth in the branded respiratory business across markets and the rest-of-the-world (ROW) declined by 4.1% to Rs. 704 crore.
The R&D expenses in Q2FY25 stood at Rs. 228 crore or 6.6% of revenue. The company spent Rs 79 crore on capex.
Glenmark has guided revenue to Rs 13,500 crore – Rs 14,000 crore, with 7-7.25% R&D investment on total sales. The Mumbai-based company is guiding 19% EBITDA margin and a capex of Rs 700 crore for FY25.
“Our flagship respiratory brand, Ryaltris, continues to perform well across all key regions, reaffirming its position as a leading treatment option,” said Glenn Saldanha, chairman and MD of Glenmark.
“Additionally, we have strategically in-licensed innovative products in our priority therapeutic areas, further strengthening our commitment to addressing unmet medical needs and improving patient outcomes,” he added.