How were the quarterly results of Glenmark Life Sciences for Q4?

The recently listed Glenmark Life Sciences grew sales revenues 10.04% in the Mar-22 quarter to Rs.514 crore. On a sequential basis, the revenues were flat with downside bias. In terms of revenue verticals in FY22, generic API segment saw revenues grow 12.1% while the CDMO (contract manufacturing) business saw revenues grow 12.4%. Among markets, the regulated market grew revenues by 21.4%, while emerging market fell -6.3%. The board of GSL recommended a final dividend of Rs.10.50/share, taking total dividend to Rs.21/share.

For the Mar-21 quarter, the net profit was down -5.52% to Rs.98.9cr, and lower -4.64% on a sequential basis. Certainly, spike in input costs was an issue, but emerging markets business took a dip on sales and profits. EBITDA margins at 28.7% in Q4 were up 10 bps yoy but lower by -770 bps on sequential basis. GLS had ratio of regulated to emerging markets at 72:28. Net margins were 19.24% in Mar-22 quarter compared to 22.41% in Mar-21. The net profit margins were also lower by 61 basis points on a sequential basis.