Review

GLAND PHARMA LTD.

Ticker : 543245
FV: ₹ 1
52-Week H/L: ₹ 4350/2160

We recommended Gland Pharma Ltd in volume no. 38, issue no. 10 (dated December 27, 2021) when the scrip was trading at Rs 3,871.15. Analysing the consolidated quarterly results, the company recorded an increase of 23.73 per cent in the net sales & operating income, which stood at Rs 1,063.33 crore for Q2FY22 as compared to Rs 859.42 crore reported for Q2FY21. The operating profit was recorded at Rs 394.58 crore in Q2FY22 as compared to Rs 299.36 crore posted in Q2FY21, a rise of 31.81 per cent. The company reported a net profit of Rs 273.03 crore in Q2FY22 versus Rs 204.11 crore recorded in Q2FY21, an improvement of 33.77 per cent. In alliance with strategic priorities, the company has completed four complex injectable filings and a total of 18 ANDA filings during the quarter. Besides, the key US market grew by 23 per cent during the quarter and thus, the focus on geographical diversification is showing robust results with YoY growth in the rest of the world markets. Hence, we recommend HOLD.