Glenmark Pharmaceuticals Ltd (NSE:GLENMARK)
₹ 1194.15 -15.7 (-1.3%) Market Cap: 336.71 Bil Enterprise Value: 330.69 Bil PE Ratio: 0 PB Ratio: 4.29 GF Score: 83/100
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Q1 2023 Glenmark Pharmaceuticals Ltd Earnings Call Transcript

Aug 12, 2022 / 03:00AM GMT
Release Date Price: ₹388.8 (-0.05%)
Operator

Good morning, ladies and gentlemen. Welcome to the Q1 FY '23 Earnings Conference Call of Glenmark Pharmaceuticals Limited. (Operator Instructions) Please note that this conference is being recorded.

I now hand the conference over to Mr. Utkarsh Gandhi, General Manager, Investor Relations for Glenmark Pharmaceuticals. Thank you. And over to you, sir.

Utkarsh Gandhi

Thank you, moderator. Good morning, everyone, and a very warm welcome to the Q1 FY '23 Results Conference Call of Glenmark Pharmaceuticals Limited.

Before we start the call, a review of the operations for the first quarter of FY '23. Glenmark's consolidated revenue from operations for Q1 FY '23 was at INR 27,773 million as against INR 29,649 million in the corresponding quarter last year, recording a decrease of 6.3%. Excluding the global sales of COVID-related products in the first quarter of FY '22, the year-on-year growth in the base business in the current financial year was at 10.4%.

Let's review the performance of the formulation business, starting with India. Sales for the

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