Glenmark Pharma gains after good Q4 numbers

The company announced the result after trading hours on Tuesday, 7 May 2013.

Meanwhile, the BSE Sensex was up 43.60 points, or 0.22%, to 19,932.55.

On BSE, 17,000 shares were traded in the counter as against an average daily volume of 74,639 shares in the past one quarter.

The stock hit a high of Rs 535 and a low of Rs 527.25 so far during the day. The stock had hit a 52-week high of Rs 550.80 on 9 January 2013. The stock had hit a 52-week low of Rs 325 on 7 May 2012.

The stock had outperformed the market over the past one month till 7 May 2013, rising 11.57% compared with the Sensex's 7.80% rise. The scrip had also outperformed the market in past one quarter, gaining 4.85% as against Sensex's 1.58% rise.

The large-cap company has an equity capital of Rs 27.09 crore. Face value per share is Re 1.

Glenmark Pharmaceuticals' (Glenmark Pharma) revenue from the generics business jumped 25.19% to Rs 586.53 crore in Q4 March 2013 over Q4 March 2012. Revenue from specialty formulation business, excluding out-licensing revenue, jumped 24.72% to Rs 741.29 crore in Q4 March 2013 over Q4 March 2012.

Glenmark Pharma's consolidated net profit rose 33.5% to Rs 614.74 crore on 24.67% growth in revenue to Rs 5012.34 crore in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012).

"Both our specialty and generics businesses performed well in FY 2013; taking our consolidated revenue very close to $1 billion milestone," said Glenn Saldanha, Chairman & Managing Director - Glenmark Pharmaceuticals. "The US, India and Russia businesses continued to maintain its high growth trajectory. We also made significant progress on the innovation R&D front with 5 NCEs (new chemical entity) and NBEs (new biological entity) molecules in clinical trials; including Crofelemer which recently received approval from the US-FDA for HIV associated diarrhea," he added.

Glenmark Pharma is a research-driven, global, integrated pharmaceutical company headquartered at Mumbai, India. It is ranked among the top 100 Pharma & Biotech companies of the world in terms of revenues. Glenmark is a leading player in the discovery of new molecules both NCEs (new chemical entity) and NBEs (new biological entity). The company along with its subsidiary has 13 manufacturing facilities in four countries and has five R&D centers. Its subsidiary, Glenmark Generics Limited services the requirements of the US and Western Europe generics markets. The API business sells its products in over 80 countries, including the US, various countries in the EU, South America and India.

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