Glenmark Life Sciences Ltd Share Price
SECTOR : Pharmaceuticals | BSE :543322 | NSE : GLS
Aug 12, 2022 04:01 PM
Glenmark Life Sciences announced Q1FY23 results:
Commenting on the company’s performance, Dr. Yasir Rawjee, MD & CEO, Glenmark Life Sciences Limited said, “We are pleased with our performance in this quarter with the overall business growing steadily, ex-covid products. India, LATAM, and ROW continue to lead our growth with Europe being soft due to supply chain issues. Generic API business saw a healthy growth of 7.1% YoY ex-covid products, whereas CDMO business witnessed an impact due to inventory rationalisation at customers’ end. We are witnessing improvement in demand for APIs across geographies, and I am optimistic about continuing the growth momentum in coming quarters”
Dr. Rawjee further added, “Our CAPEX plans are slightly delayed but we expect closure on some of these investments by the end of Q2 FY23. Our brownfield projects continue to be on track and will be completed by the end of this fiscal year. The addition of these new capacities will facilitate sustainable growth as we expand our product portfolio and continue to deliver higher volumes for existing products in the coming years.”
Date | Action Type | Ratio |
---|---|---|
Nov 22, 2021 | Dividend | 525 |
The company was incorporated as `Zorg Laboratories Private Limited`, a private limited company under the Companies Act, 1956 on 23 June 2011 at Pune and was granted the certificate of incorporation by the Registrar of Companies, Maharashtra at Pune ("RoC"). Subsequently, the Company was acquired by Glenmark Pharmaceuticals Limited pursuant to the Share Purchase Agreement dated 04 July 2018 and the name of the Company was changed to `Glenmark Life Sciences Private Limited` pursuant to a special resolution passed by the shareholders of the Company on 25 July 2018 and a fresh certificate of incorporation dated 10 August 2018 was issued by the RoC. A shareholders` resolution was passed on 13 August 2018 to convert the Company from a private limited company to a public limited company and a fresh certificate of incorporation dated 28 August 2018 was issued by the RoC. The Company is a wholly owned Subsidiary of Glenmark Pharmaceuticals Limited. The Company acquired API division of Glenmark Pharmaceuticals Limited (the parent company) on 01 January 2019. The company is primarily engaged in the business of development,manufacture and marketing of Active Pharmaceutical Ingredients(APIs). The company`s R&D facilities are located at Mahape,Ankleshwar and Dahej and manufacturing facilities are located at Ankleshwar,Dahej,Mohol and Kurkumbh. During the year 2018-19, the company allotted 4,50,090 Equity Shares of Rs. 10/- each on the conversion of loan given to Director. During the year, 15,00,000 equity shares of the face value of Rs. 10 each fully paid-up issued to Glenmark Pharmaceuticals Limited (Parent Company) pursuant to the Preferential Allotment. Subsequent to the quarter ended 30 June 2021, the company has completed the IPO of 21,022,222 equity shares comprising a fresh issue of 14,722,222 equity shares and offer for sale of 6,300,000 equity shares of face value of Rs 2 each at premium of Rs 718 per share aggregating to Rs 15,136 million. Pursuant to the IPO, the equity shares of the Company are listed on BSE Limited and National Stock Exchange of India Limited with effect from 06 August 2021. The Gross Debt comprising of Outstanding Purchase Consideration payable to the Parent Company was Rs 8,008.3 million as on 09 July 2021.The Company has repaid the whole of this remaining outstanding purchase consideration from the proceeds of the Fresh Issue pursuant to the IPO.
Plot No. 170-172 Chandramouli, Industrial Est.Mohol Bazarpeth, Solapur, Maharashtra, 413213
Tel | : | 91-2189-234456/234246 |
: | complianceofficer:glenmarklifesciences.com | |
Website | : | http://www.glenmarklifesciences.com |
KFin Techologies Ltd
AGM Date (Month) | : | |
Face Value Equity Shares | : | 2 |
Market Lot Equity Shares | : | 1 |
BSE Code | : | 543322 |
NSE Code | : | GLS |
Book Closure Date (Month) | : | |
BSE Group | : | B |
ISIN | : | INE03Q201024 |