Glenmark
Pharmaceuticals Limited
Glenmark has produced mixed results in its consolidated and stand alone results for FY 10 versus FY 09.
CONSOLIDATED
RESULTS
Net Sales has increased by 119.12 percent to Rs.2485 Crores compared to Rs.1134 crores last year.
Total Expenditure has also increased by 114.98 percent to Rs.1986 Cr in FY 10 compared to Rs.924 Cr last year.
Consol.Net Profit has increased by 146.41 percent YOY to Rs.331 Cr from Rs,134 cr last year.
Consolidated Basic EPS has gone up to Rs.12.44 on a Face value of Rs.1/- from Rs.5.27 last year.
Thus, on consolidated basis, the results certainly represent a quantum leap over FY 09.
FY10(lakhs) | Diff%age | ||
Net Sales | 248484.55 | 113401.36 | 119.12 |
Other OptgIncome | 2723.41 | 1722.08 | 58.15 |
SIT & WIP | -2914.64 | 165.63 | -1859.73 |
Raw Materials | 56604.31 | 28699.01 | 97.23 |
Traded goods | 26923.26 | 7750.06 | 247.39 |
Employees Cost | 34250.08 | 17020.27 | 101.23 |
Depreciation | 12061.04 | 6740.15 | 78.94 |
Other Expenditure | 71664.98 | 32000.61 | 123.95 |
Total Expenditure | 198589.03 | 92375.73 | 114.98 |
Profit-Operations | 52618.93 | 22747.71 | 131.32 |
Other Income | 2172.94 | 1660.26 | 30.88 |
Interest | 16402.13 | 8945.04 | 83.37 |
Tax Expense | 5286.58 | 2028.97 | 160.55 |
Net Profit | 33103.16 | 13433.96 | 146.41 |
Consol.Net Profit | 33103.16 | 13433.96 | 146.41 |
Dividend (%) | - | - | |
Face Value (in Rs.) | 1 | 1 | 0 |
Paid-up Equity | 2698.38 | 2695.81 | 0.1 |
Reserves | 232824.95 | - | |
Basic EPS | 12.44 | 5.27 | 136.05 |
Diluted EPS | 12.42 | 5.25 | 136.57 |
NON CONSOLIDATED
RESULTS
On a stand alone basis, Net Sales has increased by just 19.48 percent to Rs.1022 Crores from Rs.855 Cr last year.
Total Expenditure has increased more than proportionately, by 34.69 percent to Rs.879.93 Crores from last year’s Rs.653.28 Cr.
Consequently, stand alone Net Profit has come down by 41.05 percent to Rs.128.46 Crores from last year’s Net profit of Rs.217.93 Cr.
Stand alone Basic EPS has therefore taken a beating to Rs.4.93 on a face value of Rs.1/- compared to last year’s EPS of Rs.8.72.
Thus, the stand alone results are in sharp contrast to the consolidated results for the current year.
Dividend has been maintained at 40 percent, same as last year.
FY10(lakhs) | Diff%age | ||
Net Sales | 102191.05 | 85529.13 | 19.48 |
Other OprtgIncome | 87.13 | 81.46 | 6.96 |
SIT & WIP | -208.78 | -1516.2 | -86.23 |
Raw Materials | 20432.18 | 17289.71 | 18.18 |
Traded goods | 8414.96 | 6872.27 | 22.45 |
Employees Cost | 13391.69 | 12983.32 | 3.15 |
Depreciation | 2127.78 | 1910.45 | 11.38 |
Other Expenditure | 43834.97 | 27787.96 | 57.75 |
Total Expenditure | 87992.8 | 65327.51 | 34.69 |
Profit-Operations | 14285.38 | 20283.08 | -29.57 |
Other Income | 831.84 | 9867.77 | -91.57 |
Interest | 3015.84 | 5513.86 | -45.3 |
Exceptional items | - | 29.8 | |
Tax Expense | -744.94 | 2814.56 | -126.47 |
Extraordinary Items | - | - | |
Net Profit | 12846.32 | 21792.63 | -41.05 |
Dividend (%) | 40 | 40 | 0 |
Face Value (in Rs.) | 1 | 1 | 0 |
Paid-up Equity | 2698.38 | 2505.2 | 7.71 |
Reserves | 174643.16 | 120491.85 | 44.94 |
Basic EPS | 4.93 | 8.72 | -43.46 |
Diluted EPS | 4.92 | 8.54 | -42.39 |
QUARTERLY
RESULTS
In respect of quarterly results, Q2,Q3 and Q4 sales are far better than earlier quarters. On Q4 of FY 09, Q4 of FY10 represents a 51% increase in sales,51 % increase in net profit and 54% increase in EPS.
Looking at the approvals, licensing arrangements etc being made by Glenmark, it is felt that the future results could be further improved on Q4 results.
However, looking at its stand alone results, vis avis the consolidated results, it appears that its Indian operations are not as strong as its foreign operations.
Mar-10 | Dec-09 | Dif%age | Sep-09 | Jun-09 | Mar-09 | Dif% 2 | |
Net Sales | 28920 | 27691.7 | 4.44 | 23583.5 | 21995.9 | 19115.6 | 51.29 |
Total Expdr | 25489.8 | 22746 | 12.06 | 17858.9 | 21898.1 | 17769.7 | 43.45 |
Net Profit | 2825.62 | 3748.51 | -24.62 | 5750.18 | 522 | 5728.44 | -50.67 |
Dividend (%) | 40 | - | - | - | 40 | 0 | |
Face Value | 1 | 1 | 1 | 1 | 1 | 1 | 0 |
Pd Up Equity | 2698.38 | 2697.02 | 0.05 | 2695.81 | 2505.86 | 2505.2 | 7.71 |
Reserves | - | - | - | - | - | ||
Basic EPS | 1.05 | 1.39 | - | 2.27 | 0.21 | 2.29 | -54.15 |
ANNOUNCEMENTS
TO EXCHANGE
28-05-2010 Glenmark Pharmaceuticals Limited has informed the Exchange regarding a press release dated May 28, 2010, titled "Glenmark's consolidated revenue increases by 44% to Rs.7091 Mn for Q4-FY'10. Consolidated Net Profit was at 1026 million".
28-05-2010 Glenmark Pharmaceuticals Limited has informed the Exchange regarding the consolidated Results for the quarter ended on 31-MAR-2010 as follows: Net Sales of Rs. 70914.73 lacs for quarter ending on 31-MAR-2010. Net Profit / (Loss) of Rs. 10261.85 lacs for the quarter ending on 31-MAR-2010. -
28-05-2010 Glenmark Pharmaceuticals Limited has informed the Exchange that the Board of Directors, at their meeting held on May 28, 2010, has recommended Dividend @ 40% i.e. Re.0.40 per share (face value Re.1/-) on the Equity Share Capital of the Company for the financial year 2009-2010 subject to the approval of Shareholders at the Annual General Meeting. -
28-05-2010 Glenmark Pharmaceuticals Limited has informed the Exchange regarding the standalone Results for the quarter ended on 31-MAR-2010 as follows: Net Sales of Rs. 28919.98 lacs for quarter ending on 31-MAR-2010. Net Profit / (Loss) of Rs. 2825.62 lacs for the quarter ending on 31-MAR-2010. -
28-05-2010 Glenmark Pharmaceuticals Limited has informed the Exchange regarding the standalone Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 102191.05 lacs for year ending on 31-MAR-2010 against Rs. 85529.13 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 12846.32 lacs for the year ending on 31-MAR-2010 against Rs. 21792.63 lacs for the year ending on 31-MAR-2009. -
28-05-2010 Glenmark Pharmaceuticals Limited has informed the Exchange regarding the consolidated Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 248484.55 lacs for year ending on 31-MAR-2010 against Rs. 209301.68 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 33103.16 lacs for the year ending on 31-MAR-2010 against Rs. 19347.29 lacs for the year ending on 31-MAR-2009. -
17-05-2010 Glenmark Pharmaceuticals Limited has informed the Exchange that Forest Laboratories Inc. USA and Glenmark Pharmaceuticals, on May 15, 2010, announced that topline results from Oglemilast (GRC 3886) did not meet the primary endpoint in its Phase IIb study on Asthma patients. Forest and Glenmark would discuss further course of action regarding Oglemilast. -
11-05-2010 Glenmark Pharmaceuticals Limited has informed the Exchange regarding a press release dated May 11, 2010, titled "Glenmark & Merck settle patent litigation covering Zetia(R)".
06-05-2010 Glenmark Pharmaceuticals Limited has informed the Exchange regarding a press release dated May 06, 2010, titled "Glenmark Generics enters into an exclusive licensing agreement with Taro Pharmaceuticals, USA for a branded product".
04-05-2010 Glenmark Pharmaceuticals Limited has informed the Exchange regarding a press release dated May 04, 2010, titled "Glenmark Generics enters into an exclusive licensing agreement with Par Pharmaceuticals, USA to market Ezetimibe".
03-05-2010 Glenmark Pharmaceuticals Limited has informed the Exchange regarding a press release dated May 03, 2010, titled "Sanofi-Aventis and Glenmark Pharmaceuticals Sign License Agreement - Development of Novel Agents to treat Chronic Pain".
29-04-2010 Glenmark Pharmaceuticals Limited has informed the Exchange regarding a press release dated April 29, 2010, titled "Glenmark launches Prasugrel for the first time in India". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
26-04-2010 Glenmark Pharmaceuticals Limited has informed the Exchange regarding a press release dated April 26, 2010, titled "Glenmark Generics receives USFDA approval for Norethindrone tablets". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
07-04-2010 Glenmark Pharmaceuticals Ltd. has informed the Exchange regarding a press release dated April 07, 2010, titled "Glenmark Generics receives UK-MA approval for Ropinirole film-coated tablets and to distribute Lercanidipine Hydrochloride film-coated tablets". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
01-04-2010 Glenmark Pharmaceuticals Ltd. has informed the Exchange regarding a press release dated April 01, 2010, titled "Glenmark Generics receives approval from USFDA for Moexipril Hydrochloride Tablets". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
31-03-2010 Glenmark Pharmaceuticals Ltd. has informed the Exchange regarding a press release dated March 31, 2010, titled "Glenmark Generics announced New Drug Applications for Oxycodone Hydrochloride Capsules and Liquid Solution". A copy of the press release shall be available on the NSE website http://www.nseindia.com) under: Corporates > Latest announcements and on the Extranet Server (/Common/Corporate Announcements).
26-03-2010 Glenmark Pharmaceuticals Ltd. has informed the Exchange regarding a press release dated March 26, 2010, titled "Glenmark Generics receives approval from the USFDA for Calcipotriene Ointment". A copy of the press release shall be available on the NSE website http://www.nseindia.com) under: Corporates > Latest announcements and on the Extranet Server (/Common/Corporate Announcements)
22-03-2010 Glenmark Pharmaceuticals Ltd. has informed the Exchange that the Board of Directors of the Company, at its meeting held on March 22, 2010 allotted 6,100 shares to the employees of the company on exercise of options granted to them pursuant to ESOS 2003.
18-03-2010 Glenmark Pharmaceuticals Ltd. has informed the Exchange regarding a press release dated March 18, 2010, titled " Glenmark Generics receives approval from the USFDA for Moexipril Hydrochloride Tablets". A copy of the press release shall be available on the NSE website http://www.nseindia.com) under: Corporates > Latest announcements and on the Extranet Server (/Common/Corporate Announcements).
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