Glenmark Life Sciences rebrands as Alivus Life Sciences;consequent to the acquisition by Nirma Limited

  • Glenmark Life Sciences rebrands as Alivus Life Sciences;consequent to the acquisition by Nirma Limited

  • Glenmark Life Sciences rebrands as Alivus Life Sciences
  • Glenmark Life Sciences, a leading developer and manufacturer of select, high-value, non-commoditized, active pharmaceutical ingredients (APIs) in chronic therapeutic areas, announces its change of identity to Alivus Life Sciences, marking an exciting new chapter in its journey. 
  • This is consequent to the acquisition by Nirma Limited, a diversified conglomerate with interest in consumer products, chemicals, and pharmaceuticals. 
  • The change is reflective of the company’s evolving vision aimed at further strengthening its global presence and a commitment to providing innovative solutions in the API and CDMO space. 
  • The new identity, Alivus Life Sciences, represents vitality and growth with a renewed focus. 
  • It embodies the optimism and transformation the company is embracing as it enters the next phase of its journey.

Glenmark Life Sciences: growth was driven by strong momentum in the Generic API business

  • Net Cash Generated from Operating Activities: 313 cr Vs 597
  • EPS: 38 Vs 36
  • Revenue: 2190 vs 2138
  • PAT: 470 Vs 419
  • EBITDA margins were at 31.1%, Vs 29.7%  
  • Capital expenditure for FY23 was at Rs. 1702 Mn 
  • R&D expenditure  3.0% of sales    
  • ROICE was 33.5% for FY23  
  •    The growth was driven by strong momentum in the Generic API business as well as significant recovery in demand in the CDMO business
  • cash generation remains strong during FY23 leading to stable debt free balance sheet with healthy cash   
  •   Capex update 
  •  Dahej: o The brownfield expansion for the Generic API products at Dahej facility is complete with 240 KL capacity. o The brownfield expansion at Dahej for the Oncology plant is completed.  
  •  Ankleshwar: o Intermediate manufacturing block at the Ankleshwar site with a manufacturing capacity of 400 KL, of which 192 KL is commissioned and operational and balance 208KL will be operational in second half of FY24. 
  •  Solapur: o The Company has received Environmental Clearance for the installation of 1000 KL capacity along with CTE (Consent to Establish) for the planned greenfield site  and construction work will begin in FY24.  

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