Companies

Gland Pharma Q4 net profit up 34% to ₹260 crore

Our Bureau Hyderabad | Updated on May 18, 2021

Gland Pharma registered income from operations of ₹887.7 crore for the fourth quarter, up 40 per cent over ₹635.2 crore for the corresponding quarter last financial year

Gland Pharma Limited posted a net profit of ₹260.4 crore for the fourth quarter ended march 31, 2021 up 34 per cent against ₹194.84 crore it logged during the corresponding quarter last year.

The Hyderabaad-based pharma company registered income from operations of ₹887.7 crore for the fourth quarter, up 40 per cent over ₹635.2 crore for the corresponding quarter last financial year.

For the financial year ended March 31, 2021, the company posted a profit of ₹997 crore, up 29 per cent over ₹773 crore in previous year and income of ₹3,463 crore, up 32 per cent against ₹2,633 crore of previous fiscal.

Srinivas Sadu, MD and CEO of Gland Pharma, in a regulatory filing said, “Overall the business has performed well and grew steadily during these challenging times. For the financial year 2020-21, we witnessed a revenue growth of 32 per cent and net profit growth of 29 per cent compared to the previous year.”

“New product launches, volume growth in existing portfolio, along with geographic expansion has 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.”

Also read: Gland Pharma to supply 252 million doses of Sputnik V vaccine to RDIF

The Company has launched new products such as Micafungin and Bivalirudin in RTU format as well as Olapatadine, an Ophthalmic product in the market.

The company has ramped up Remdesivir supply and maintained sufficient supply of Enoxaparin to support the requirement of Covid-19 patients.

During the financial year ended March 31, 2021, the Company has filed 21 ANDAs, 5 DMFs and received 32 ANDA approvals.

As at March 31, 2021, the Company has filed total 284 ANDAs, out of which 234 were approved and 50 are pending for approval.

The company incurred a total capex of ₹228 crore in FY21 as against ₹194.7 crore in the previous fiscal.

Expansion plan

The Company is expanding its sterile injectable facility located in Hyderabad. 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 be investing in the drug substance and biologics facility for creating robust infrastructure in vaccine and bio-similar space.

Published on May 18, 2021

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