glenmark pharmaceuticals: Glenmark Life Sciences' IPO may ride the API wave. Challenges: scaling up and sustaining growth.
Glenmark manufacturing plant at Dahej, Gujarat; Image courtesy: Glenmark Synopsis The company’s performance has been robust — 16% CAGR in revenue and 17% CAGR in Ebitda over the last three years, and an Ebitda margin of over 30%. Besides, it has fared well in the critical parameter of quality compliance. It is now looking to expand its manufacturing capacity, product portfolio, and geographical presence, but can it continue its run? Active pharmaceutical ingredients (APIs) are the backbone of pharma industry. When the pandemic struck, cracks in the pharma supply chain were exposed, especi...