Gland Pharma’s poor show in FY23 has shaken investor confidence. Can it reclaim lost ground?
Synopsis
Given the consistent disappointments on the earnings front, investors are starting to worry if there is a structural issue with the business. The management has not been transparent in its communication and also did not give any guidance on revenue growth or margins for FY24, citing uncertainties in the business environment. This further dampened investor sentiment.
Gland Pharma has left shareholders exasperated. Earnings have deteriorated significantly in the last few quarters and, consequently, the stock has declined nearly 70% in the past one year. When the Hyderabad-based pure-play generic injectables company had come out with its initial public offering (IPO) in November 2020, it looked quite promising and garnered strong interest from investors. Gland Pharma had listed at a premium of 14% over its
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