Profit before tax (PBT) stood at Rs 299.30 crore in Q3 FY25, up 5.68%, compared with Rs 283.20 crore in the third quarter of FY24.
For Q3 of FY25, EBITDA was Rs 360 crore, registering a growth of 1.20% YoY. EBITDA margin improved from 23% to 26% during the quarter.
Revenue from the US market stood at Rs 729.30 crore (down 11.23% YoY), revenue from Europe was at Rs 264.60 crore (down 18.60% YoY), Canada, Australia, and New Zealand stood at Rs 45.90 crore (up 20.15% YoY), while revenue from India was at Rs 56.20 crore and the rest of the world was at Rs 288.10 crore during the period under review.
Total capex incurred during the quarter was Rs 137.90 crore.
R&D expenses stood at Rs 43.70 crore in Q2 of FY25 (4.3% of revenue).
Cenexi’s gross profit shed 14.25% YoY to Rs 285.60 crore, and revenue from operations decreased 16.26% YoY to Rs 371.70 crore during the quarter.
During the quarter, the company launched 13 new molecules, including chlorpromazine, dexamethasone, phenylephrine, phytonadione, and diphenhydramine. Additionally, the company received Establishment Inspection Reports (EIRs) from the USFDA for its Dundigal and Pashamylaram facilities in Hyderabad, India, marking the successful closure of recent USFDA inspections.
On outlook front, the company said Cenexi maintains its goal of achieving a positive EBITDA for the next fiscal year, driven by an increase in revenue above the €200 million threshold.
Srinivas Sadu, Executive Chairman of Gland Pharma, said, “Our Q3 FY25 revenue was at Rs 13,841 million with an EBITDA of Rs 3,600 million, resulting in a 26% EBITDA margin. Notably, our base business EBITDA margin saw a significant improvement of 500 basis points, reaching 39%. We are also excited about the progress of our strategic biologics CDMO collaborations with some of the leading companies in this space. These partnerships open doors to exciting opportunities in the rapidly growing biologics CDMO segment and are expected to generate incremental revenue starting next financial year.
Furthermore, the recent conclusion of the USFDA inspections at our Dundigal and Pashamylaram facilities underscores our unwavering commitment to quality and regulatory compliance. We remain focused on driving long-term value creation through strategic partnerships, innovation, and continued investments in new products and technologies.”
Shyamakant Giri, CFO, Gland Pharma, said, “I am honored and excited to lead Gland Pharma as its new CEO. Building on the company's strong foundation, my focus will be on enhancing operational excellence in our base business, ensuring Cenexi's successful turnaround, identifying and pursuing new growth opportunities, and further solidifying our position as a leader in the CDMO space, particularly in biologics and complex injectables.
I believe that by fostering a culture of innovation, collaboration, and customercentricity, we can achieve sustainable growth and create long-term value for all our stakeholders.”
Gland Pharma is one of the largest and fastest-growing injectable-focused companies, with a global footprint across 60 countries, including the United States, Europe, Canada, Australia, India, and other markets. It has a wide range of injectables, including vials, ampoules, pre-filled syringes, lyophilized vials, dry powders, infusions, oncology, and ophthalmic solutions. The company also pioneered Heparin technology in India.
Shares of Gland Pharma slipped 5.41% to currently trade at Rs 1,438 on the BSE.