On all counts the Q1FY23 numbers of Gland Pharma were missed. Revenue fell 25 percent to Rs 856 crore on a year-on-year basis. While PAT and EBIDTA fell between 34-38%. Impact was seen from supply chain issues coming from China. Disruption in input material impacted sales. The management stated that the expected export data showed significant moderation. Pricing pressure seen in US markets also impacted the margins which fell by more than 500 basis points to 31.5 percent. However, the overall demand remains as the company is working to build inventory.Stock fell as high as 7 percent in the beginning of trade-the biggest loser in the Nifty 500 Index.
