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Gland Pharma Q4 FY21 Earnings Call Highlights

Gland Pharma Q4 FY21 Earnings Call Highlights

Published on 11 June 2021 Views 97 Comments 0

 

FY21 Performance:

 

  • Revenue from operations stood at Rs 34,629 million ,32% year-on-year growth in revenue for FY’21
  • Year-on-year growth in PAT is 29% for the year
  • Emerging business accounts for 16% of FY’21 revenue
  • Ability to turnaround orders in short period of time and offer broad portfolio of products helped to achieve this phenomenal growth in FY’21
  • Key markets namely US, Canada, Europe and Australia accounted for 68% of revenue during FY’21
  • Domestic market accounts for 16% of FY’21 revenue
  • Gross contribution margin is 57% for the year
  • EBITDA is Rs 14,370 million, with a growth of 31% over the previous year
  • PAT is Rs 9,970 million, an increase of 29% as compared to last year.
  • Effective tax rate is 25% for FY’21
  • Cash flow from operations is Rs 6,049 million for the year
  • Cash conversion cycle stood at 229 days for FY’21 as compared to 200 days as of last financial year end
  • Total capex during the year is Rs 2,288 million
  • ROCE on ex-cash basis stood at 33% as on March 31, 2021, an improvement of 130 basis points over the previous financial year
  • Rs 30,058 million of cash as on March 2021.
  • Ms. Naina Lal Kidwai, an MBA from Harvard Business School and Dr Allen Zhang, a scientist has joined the Board

 

 

Q4FY21 Performance:

 

  • Revenue from operations stood at Rs 8,877, 40% year-on-year growth in revenue for the quarter
  • Year-on-year growth in PAT is 34% for the quarter
  • Gross contribution margin for Q4 is 56%
  • EBITDA is Rs 3,749 million, with an increase of 31% compared to same period last financial year.
  • Net profits is Rs 2,604 million, a growth of 34% compared to Q4 FY’20
  • Effective tax rate is 25% for the quarter

 

 

 

Research & Development and Products:

 

  • R&D expenditure for the year is Rs 1,220 million, an increase of 32% over the last year, the R&D expenditure for the quarter is Rs 304 million
  • At the year end, there is 284 ANDA filings in the US and 1,501 products registrations globally
  • 10 products SKUs launched in the domestic market during FY’21
  • Successful completion of purchase of R&D and manufacturing facility of Vitane Biologics.
  • Agreement with RDIF to supply Sputnik V Covid-19 vaccine.

 

 

 

FY22 Outlook:

 

  • Learning’s and infrastructure support from vaccine business will accelerate long term strategy of entering into biosimilar space
  • Exploring other M&A opportunities that will build capabilities to strengthen product and technology infrastructure
  • Started investing in new biologics facility to make it ready for vaccine and future biosimilar plants.
  • 62 SKUs planning to be launched in FY’22
  • May continue to maintain the EBITDA margin
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