Gland Pharma Reports Q3 FY25 Financial Performance: Revenue at ₹13,841 Mn with Improved Profitability

Hyderabad, February 3, 2025: Gland Pharma Limited (BSE: 543245, NSE: GLAND), a leading generic injectable-focused pharmaceutical company, has announced its financial results for the third quarter of fiscal year 2025 (Q3 FY25), ended December 31, 2024.

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Key Financial Highlights (Consolidated)​

Key Takeaways:

• Despite a 10% YoY revenue decline, the company saw EBITDA margin expansion to 26%, driven by operational efficiencies.
• Gross profit margins rose to 67%, reflecting better cost controls.
• PAT increased 7% YoY and 25% sequentially.
• Strategic investments in biologics and complex injectables are expected to drive future growth.

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Segment-wise Revenue Performance​

• USA Market: Revenue declined 11% YoY due to pricing pressure but showed 4% growth over 9M FY24.
• Europe Market: Revenue dropped 19% YoY, impacted by an ANSM inspection at Cenexi’s Fontenay site.
• India Market: Sales fell 26% YoY, attributed to lower domestic demand.
• Rest of the World: Showed 1% growth YoY, driven by higher volumes of Huminsulin, Tigecycline, and Heparin Sodium.

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Operational Updates​

Base Business (Gland Pharma)​

• Revenue declined 8% YoY but EBITDA margin expanded to 39% (Q3 FY24: 34%).
• 13 new product launches in Q3, including Chlorpromazine, Dexamethasone, and Phenylephrine.
• Regulatory Filings:
  • 4 ANDAs filed, 8 ANDAs approved in Q3.
  • Cumulative US filings: 366 ANDAs (312 approved, 54 pending).
• Capex of ₹1,379 Mn during Q3 FY25.

Complex Injectables & Biologics Expansion​

• 9 complex injectables filed out of a targeted 19-product portfolio, with 6 already launched.
• Biologics CDMO collaboration progressing well at Shamirpet, with commercial revenue expected in FY26.

Cenexi Performance​

• Revenue declined 16% YoY due to ANSM inspection in France.
• New high-capacity ampoule line operational at Fontenay, expanding capacity by 40–50 million units.
• Pre-filled syringe line under installation at Hérouville, expected to boost capacity by H2 FY26.
• Cenexi aims for positive EBITDA in FY26, targeting revenue above €200 Mn.

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Management Commentary​

Mr. Srinivas Sadu, Executive Chairman​

“Our Q3 FY25 revenue was ₹13,841 Mn, with an EBITDA of ₹3,600 Mn, resulting in a 26% EBITDA margin. The improvement in our base business EBITDA margin, which rose 500 basis points to 39%, is a testament to our focus on operational efficiencies. We are also excited about our biologics CDMO collaborations, which will open doors for incremental revenue in the coming financial year. The completion of USFDA inspections at our Dundigal and Pashamylaram facilities reaffirms our commitment to regulatory excellence.”

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Mr. Shyamakant Giri, Chief Executive Officer​

“As the new CEO, my focus will be on driving operational efficiencies, ensuring Cenexi’s turnaround, and expanding our CDMO footprint in biologics and complex injectables. Our pipeline, combined with strategic investments, positions us well for long-term growth.”

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Strategic Outlook​

• Continued expansion in biologics CDMO and complex injectables portfolio.
• Operational efficiencies and cost rationalization to enhance margins.
• Aggressive R&D investments in high-value complex injectables.
• Regulatory progress with successful USFDA inspections and new filings.
• Cenexi’s EBITDA turnaround is a key focus for FY26.

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Earnings Call Details​

• Date: February 3, 2025, Time: 6:30 PM IST.
• Dial-in Numbers:
  • India: +91 22 6280 1516 / +91 22 7115 8875
  • US: 1866-746-2133 | UK: 0808-101-1573 | Singapore: 800-101-2045

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Conclusion​

Gland Pharma’s Q3 FY25 results indicate robust margin expansion despite revenue declines. The biologics CDMO push, pipeline expansion, and cost optimizations position the company for long-term growth. Investors should watch for Cenexi’s turnaround and new product launches in FY26