Glenmark Pharmaceuticals Limited CC-Dec24.pdf · 2025-02-11
Just a couple of questions. Firstly, you are seeing a bit of an offshoring impact. And you had furloughs in December, and you expect only half of that furloughs in March quarter. And despite that, despite the furloughs and some ramp downs you called out, you're still sounding confident on FY '26 growth and your ability to mitigate the impact of it in Q4. So, is this confidence coming from your, let's say, confidence that you'll be able to close that large deal? Is that large deal closing the bridge between the current quarter and FY ‘26 and your ability to mitigate in Q4?
Sure, Angan. And just on margins, right? I think despite the wage hike, you were able to maintain the margins stable quarter on a quarter basis, which is pretty impressive. So, from here on, what are the headwinds that you have which you foresee at this stage apart from the regular investments and, let's say, if the large deal materializes, that you'll have to do certain on-site investments and all. But apart from that, are there any other headwinds that you foresee at this stage? Because I think s huttling back to Sandeep's earlier question, Q3 possibly should be the peak of the headwinds, including the wage hike. And despite that, you are able to sort of show better-than-expected margins.