NEW DELHI: Glenmark Pharmaceuticals on Thursday said it will sell a 75 per cent stake in its subsidiary Glenmark Life Sciences to Nirma Ltd for Rs 5,6.
Glenmark: "For the new financial year, we aim to grow by 10-11 per cent in revenues, expand our EBITDA margin to 19-20 per cent, and continue to focus on enhancing free cash generation for further debt reduction," Saldanha said in the company s Annual Report for FY23.
Glenmark Pharmaceuticals is targeting a 10-11% increase in revenues and aims to reduce debt through free cash generation in the current financial year. The company also plans to expand its presence in therapeutic segments like oncology and dermatology while improving EBITDA margins. Glenmark reported consolidated revenue of Rs 12,990 crore in FY23, with an EBITDA of Rs 2,278 crore and net debt of Rs 2,905 crore.