EBITDA stood at Rs 195 crore in Q1 FY24 registering growth of 24.8% as compared with Rs 156.3 crore in Q1 FY23. EBITDA margin stood at 33.7% in Q1 FY24 as against 31.9% in Q1 FY23.

Generic API revenues stood at Rs 504.2 crore in Q1 FY24 increased 13.3% YoY was driven by strong growth in regulated markets and supported by steady growth in emerging market.

CDMO revenue stood at Rs 46.4 crore, continued the strong growth momentum growing 91% YoY driven by healthy recovery in demand.

On the Capex front, the company said that Dahej facility's Additional brownfield capacity of 220KL – 240KL will be operational between FY24 to FY26.

Remaining 208KL of Intermediate block at the Ankleshwar site is under construction out of total manufacturing capacity of 400 KL, will be operational in second half of FY24. Further, additional brownfield capacity in the range of 280KL – 300KL will be operational between FY25 and FY26.

The company has received Environmental Clearance and CTE (Consent to Establish) for the installation of 1000MT capacity for the planned greenfield site at Chincholi Industrial Area, Solapur. Detailed engineering work has started for the construction of 200KL in phase 1, total capacity of around 500KL will be operational by FY26. Solapur's further capacity expansion will be calibrated as per the volume demand.

R&D expenditure for Q1 FY24 was Rs 17.4 crore. During the quarter the company reported strong free cash generation of Rs 98.2 crore leading to cash & cash equivalents of Rs 382.0 crore as on 30 June 2023.

Glenmark Life Sciences, a subsidiary of Glenmark Pharmaceuticals, is a developer and manufacturer of select high-value, non-commoditised active pharmaceutical ingredients (APIs) in chronic therapeutic areas, including cardiovascular disease, central nervous system disease, pain management, and diabetes.

The scrip declined 0.53% to Rs 633.15 on the BSE.