Calling Chard: asparagus and leek risotto with chicken | SaltWireBENGALURU - Indian drugmaker Glenmark Life Sciences posted its first drop in profit for six quarters on Thursday as its mainstay active pharmaceutical ingredients business was hurt by the Red Sea crisis.
The Mumbai-based company, which is in process of being taken over by detergent maker Nirma, said its profit fell 33% to 979.4 million rupees in the January-March quarter, from 1.46 billion rupees a year earlier.Revenue from its API business, its biggest, fell 8.6% in the fourth quarter, leading to a nearly 14% fall in its total revenue.Glenmark Life, like other Indian API makers, has been benefitting from increasing demand from Europe and the United States, their biggest markets.
Glenmark Life has over 130 APIs in its portfolio across key therapy areas such as cardiovascular, oncology and anti-infectives.RIC PE EV/EBITD Revenue Profit Mean # of Stock to DivGlenmark Life 17.09 11.45 13.13 15.49 Buy 3 0.91 3.99Granules India 16.66 9.91 12.98 40.91 Strong 4 0.93 0.36* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT