Gland Pharma (GLAND) Q4 21/22 earnings summary

Executive summary

• FY2021-22 delivered consolidated revenue of ₹44,007 million, up 27% YoY; EBITDA rose 21% to ₹17,341 million and PAT grew 22% to ₹12,117 million.

• Performance combined new product launches, capacity expansion and market diversification, while preserving a strong balance sheet with zero long-term bank borrowings.

Financial highlights

• Consolidated revenue from operations was ₹44,007 million versus ₹34,629 million; total income was ₹46,246 million versus ₹35,977 million.

• Consolidated EBITDA increased 21% YoY to ₹17,341 million; PAT rose 22% to ₹12,117 million, while PBT reached ₹16,186 million, up 21%.

• Basic and diluted EPS were ₹73.81 and ₹73.64, respectively, versus ₹63.07 and ₹62.99 in FY2020-21.

• Operating cash flow was ₹7,908 million, up from ₹6,049 million; cash and cash equivalents ended at ₹3,188 million versus ₹4,925 million.

Outlook and guidance

• FY2022-23 priorities include steady improvement in financial performance, a meaningful uplift in cash generation, and continued investment in R&D and manufacturing.

• Near-term product focus is complex injectables, including peptides, long-acting injectables, suspensions and hormones, with delivery formats such as pens and cartridges.

• Biologics CDMO infrastructure is being developed; collaborations and value-accretive acquisitions are under consideration to support inorganic growth.

• Supply-chain disruption may weigh on the near-term outlook; sustainable growth remains the stated objective.