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Revenue
₹3,063 Cr
verified against source
Revenue YoY
2.1%
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Glenmark's Q4 FY24 consolidated revenue grew 2.1% YoY to INR 3,063 crore, with India formulation up 12.9% and ROW up 10%, but North America declined 12.4% due to lack of launches. The company took significant exceptional charges (INR 447 crore loss) including Monroe asset impairment and working capital rationalization. Management guided FY25 revenue of INR 135-140 billion, EBITDA margin near 19%, and double-digit PAT margins. Key growth drivers include Rialtris (expected >$80M sales in FY25), generic Flovent filing, and Europe/emerging markets expansion. Risks include delayed Monroe FDA reinspection, elevated legal payouts (~INR 300 crore cash outflow in FY25), and IGI R&D spend of $50 million.
Colored figures show movement against the previous available record.
Guidance to track
- Management guided FY25 revenue between INR 135-140 billion, implying ~14-18% growth over FY24.
- EBITDA margin expected to be near 19% for full year FY25, supported by mix improvement and cost control.
- R&D spend guided at 7-7.25% of total revenue, with generic R&D increasing and IGI spend declining.
- CapEx of INR 700 crore planned for additional lines, Rialtris capacity, and in-licensing opportunities.
Risks flagged
- Remediation completed but FDA reinspection pending; delay could impact injectable commercialization timeline.
- Cash payout of ~INR 300 crore in FY25 for DOJ and Zetia settlements, impacting free cash flow.
- North America revenue fell 12.4% YoY; recovery depends on generic Flovent approval and scale-up of recent launches.
- Despite earlier guidance to reduce Ichnos spend, FY25 IGI cash R&D is $50 million, pressuring profitability.
Key quotes
- We are hoping that in first quarter, they will come in the next couple of months, I'm guessing.
- We believe that we are the first filer on this product, okay? So, I mean, it's launch on approval, basically, right?
- FY 26 will be a big year for the company. That's what we believe, right, in terms of overall growth, right, top line growth.
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