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Divi’s Laboratories is in the process of entering into a long-term supply agreement with an unnamed customer with a planned capacity addition of Rs 650-700 core to be funded from internal accruals. The proposed facility is expected to be operational around January, 2027. The company has not revealed any other details due to confidentiality agreement.  

Revenue increased by 12.7% YoY (+9.8% QoQ) to Rs 5398.1 crores, mainly led by cement sales volume growth of 22.4% YoY (+16.3%) to 10.4 mtpa. However, net realization was down by 7.9% YoY (-5.7% QoQ) which partially negated the impact of strong volume growth. EBITDA grew by 79.5% YoY to Rs 837.1 crores as EBITDA/ton has improved sharply on YoY basis to Rs 805/ton (vs Rs 549/ton YoY) led by lower operational cost and positive operating leverage. Sequentially, EBITDA/ton is down 20.3% on lower realization & higher RM cost. PAT was up significantly (+216.4% YoY) to Rs 748.5 crores. For FY24, revenue is up 12.2% YoY to Rs 19952.2 crores (mainly led by 20.3% volume growth) with EBITDA/ton stood at Rs 830/ton (vs Rs 498/ton in FY23).

PSP Projects has approved the allocation of 36.4 lakh shares to eligible qualified institutional buyers at ₹ 670 apiece. Thus, the company raised ₹ 244 crore. 

Patel Engineering has approved the allocation of 7.08 crore shares to eligible qualified institutional buyers at ₹ 56.53 apiece. Thus, the company raised ₹ 400 crore. 

Glenmark life sciences (GLS) reported muted set of numbers for Q4FY24 with a revenue de-growth of 11% YoY to Rs 520 core. API sales to Glenmark Pharma (~32% of the revenues) de-grew 28% YoY to Rs 166 crore on a higher base. External API sales on the other hand grew 6% to Rs 318 core. CDMO sales de-grew 38% to Rs 35 crore as execution for a Japanese CDMO contract was deferred to next fiscal. Overall sales to the extent of Rs 45 crore were also impacted by supply chain disruption and realigning adjustments pertaining to Nirma consolidation. EBITDA Margins were squeezed to 26.9% compared to 33.7% last year. Decline mainly due to lower sales even as the GPMs were strong at 56%. 

Q4 Sales grew ~21% QoQ to Rs 1440 crore driven by driven by 30% growth in generic APIs to Rs 745 crore and 17% growth in formulations to Rs 430 crore. CDMO sales also grew 11% QoQ to Rs 236 crore. GPM however declined ~450 bps QOQ probably on account of higher ARV API sales. But EBTIDAM improved ~160 bps QoQ to 16.8% on the back of better cost controls.