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Glenmark Pharma

₹1033.2 8.6 | 0.8%

Market Cap ₹29154 Cr.

Stock P/E -41.0

P/B 3.3

Current Price ₹1033.2

Book Value ₹ 314.6

Face Value 1

52W High ₹1098

Dividend Yield 0.24%

52W Low ₹ 581.2

Edit Ratio

Glenmark Pharma Research see more...

Overview Inc. Year: 1977Industry: Pharmaceuticals & Drugs

Glenmark Pharmaceuticals Ltd is a international pharmaceutical corporation. The Company is commonly engaged in the enterprise of developing, manufacturing and advertising and marketing of pharmaceutical products. It focuses on production products throughout therapeutic regions of breathing, dermatology and oncology. It is involved in development of new chemical entities (NCEs) and new biological entities (NBEs). Its business segments consist of India, North America, Europe and Rest of the world. It is centered on developing and advertising branded and universal formulations. Its products consist of FabiFlu, Ryaltris and Remo (Remogliflozin etabonate). Its FabiFlu is an antiviral remedy to treat slight to moderate COVID-19. Its Ryaltris is a set-dose aggregate nasal spray of an antihistamine (olopatadine hydrochloride 665 microgram) and a steroid that treats signs and symptoms associated with seasonal, in addition to perennial allergic rhinitis. Its Remo is a sodium-glucose shipping-2 (SGLT2) inhibitor for the sort 2 diabetes.

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Glenmark Pharma Share Price

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Glenmark Pharma Quarterly Results

#(Fig in Cr.) Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Net Sales 3147 3173 3019 2777 3018 3100 3374 3402 3207 2507
Other Income -13 14 107 183 86 71 -40 21 2 45
Total Income 3134 3187 3126 2960 3104 3171 3334 3422 3209 2552
Total Expenditure 2557 2480 2556 2346 2539 2626 2769 2770 2745 2715
Operating Profit 577 707 571 615 565 545 565 652 464 -163
Interest 69 67 87 60 83 97 109 112 121 134
Depreciation 123 119 132 147 146 152 147 155 141 147
Exceptional Income / Expenses 0 -178 -83 0 0 34 -800 -52 -325 -77
Profit Before Tax 385 343 270 408 337 330 -491 333 -124 -521
Provision for Tax 110 103 97 197 165 144 -88 160 56 -72
Profit After Tax 275 240 173 211 172 186 -403 173 -180 -450
Adjustments -17 -18 -17 -19 89 87 -25 -23 98 98
Profit After Adjustments 258 222 156 193 260 273 -428 150 -82 -351
Adjusted Earnings Per Share 9.1 7.9 5.5 6.8 9.2 9.7 -15.2 5.3 -2.9 -12.5

Glenmark Pharma Profit & Loss

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 4969 5945 6681 7562 9079 9074 9865 10641 10944 12305 12990 12490
Other Income 11 11 7 20 37 91 208 160 50 167 317 28
Total Income 4980 5956 6688 7582 9117 9166 10074 10801 10994 12472 13307 12517
Total Expenditure 3954 4854 5467 6125 7043 7459 8280 8943 8860 9985 10712 10999
Operating Profit 1026 1102 1221 1457 2074 1707 1794 1858 2135 2487 2595 1518
Interest 160 189 190 179 237 286 335 377 353 298 350 476
Depreciation 127 217 300 234 264 302 326 417 444 487 611 590
Exceptional Income / Expenses 0 0 -187 0 -81 0 167 33 45 -261 -766 -1254
Profit Before Tax 739 697 544 1044 1491 1119 1301 1096 1382 1441 868 -803
Provision for Tax 111 151 334 301 383 315 376 320 412 448 491 56
Profit After Tax 628 546 209 743 1109 804 925 776 970 994 377 -860
Adjustments -8 -3 0 0 0 -0 -0 -0 -0 -52 -80 148
Profit After Adjustments 620 542 210 743 1109 804 925 776 970 942 297 -711
Adjusted Earnings Per Share 22.9 20 7.7 26.3 39.3 28.5 32.8 27.5 34.4 33.4 10.5 -25.3

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 6% 7% 7% 10%
Operating Profit CAGR 4% 12% 9% 10%
PAT CAGR -62% -21% -14% -5%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 70% 19% 12% 6%
ROE Average 4% 10% 12% 17%
ROCE Average 9% 13% 14% 15%

Glenmark Pharma Balance Sheet

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 2763 2983 1783 3630 4493 5163 5605 6071 7065 9087 9474
Minority's Interest 24 13 -0 -0 -0 -0 -0 -0 -0 351 365
Borrowings 1920 2429 2574 2487 4536 4142 3574 4043 3889 2572 3852
Other Non-Current Liabilities -295 -462 175 -988 -1279 -1318 -1294 -1010 -1085 -1302 -1171
Total Current Liabilities 2201 2949 3777 3999 2703 3288 4021 4126 4201 4689 5046
Total Liabilities 6614 7912 8309 9128 10453 11275 11906 13229 14069 15397 17566
Fixed Assets 2406 2890 2015 2594 2755 3030 3670 5029 5129 5887 6202
Other Non-Current Assets 481 260 963 630 823 1257 1539 1397 1580 1228 1490
Total Current Assets 3727 4763 5331 5904 6875 6989 6697 6804 7360 8282 9874
Total Assets 6614 7912 8309 9128 10453 11275 11906 13229 14069 15397 17566

Glenmark Pharma Cash Flow

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 320 605 795 764 857 1056 1233 936 1110 1138 1411
Cash Flow from Operating Activities 648 854 482 345 657 1648 1324 1392 1131 1109 625
Cash Flow from Investing Activities -464 -368 -540 -880 -712 -1013 -699 -784 -675 -333 -528
Cash Flow from Financing Activities 195 -98 199 699 543 -468 -739 -445 -442 -520 -77
Net Cash Inflow / Outflow 379 388 141 163 488 166 -114 164 14 255 19
Closing Cash & Cash Equivalent 605 795 764 857 1056 1233 936 1110 1138 1411 1443

Glenmark Pharma Ratios

# Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 22.89 19.99 7.72 26.34 39.3 28.49 32.78 27.5 34.38 33.37 10.53
CEPS(Rs) 27.89 28.11 18.79 34.64 48.66 39.19 44.33 42.28 50.1 52.46 35.04
DPS(Rs) 2 2 2 2 2 2 2 2.5 2.5 2.5 2.5
Book NAV/Share(Rs) 102.01 109.99 65.74 128.59 159.16 182.62 198.27 214.65 249.6 321.45 335.13
Core EBITDA Margin(%) 20.26 18.16 17.96 18.79 22.17 17.75 16.07 15.96 8.26 8.35 7.69
EBIT Margin(%) 17.94 14.75 10.85 15.99 18.82 15.43 16.58 13.85 6.88 6.26 4.11
Pre Tax Margin(%) 14.74 11.6 8.04 13.65 16.24 12.3 13.18 10.3 5.48 5.18 2.93
PAT Margin (%) 12.53 9.09 3.1 9.71 12.07 8.83 9.38 7.29 3.84 3.57 1.27
Cash Profit Margin (%) 15.07 12.7 7.54 12.78 14.95 12.15 12.68 11.21 5.6 5.32 3.34
ROA(%) 10.4 7.51 2.58 8.52 11.33 7.4 7.98 6.17 7.11 6.74 2.29
ROE(%) 24.33 18.99 8.79 27.46 27.31 16.67 17.21 13.32 14.81 12.33 4.07
ROCE(%) 17.67 15.04 12.4 18.53 20.54 14.77 16.47 14.04 15.3 14.19 9.17
Receivable days 104.99 115.37 125.97 119.39 97.29 94.95 83.73 78.95 36.01 37.24 44.33
Inventory Days 59.39 53.99 59.42 67.68 73.65 83.59 79.22 75.25 31.9 31.35 33.73
Payable days 146.86 185.99 353.59 310.27 263.45 221.98 226.86 218.9 219.98 191.57 191.79
PER(x) 20.21 28.3 101.76 30.15 21.83 18.51 19.69 7.49 13.51 13.25 44.14
Price/Book(x) 4.53 5.14 11.96 6.18 5.39 2.89 3.26 0.96 1.86 1.38 1.39
Dividend Yield(%) 0.43 0.35 0.25 0.25 0.23 0.38 0.31 1.21 0.54 0.57 0.54
EV/Net Sales(x) 2.96 3 3.64 3.38 3.07 2.01 2.2 0.9 1.52 1.2 1.23
EV/Core EBITDA(x) 14.31 16.16 19.94 17.53 13.44 10.71 12.11 5.15 7.8 5.93 6.16
Net Sales Growth(%) 23.59 19.64 12.38 13.18 20.07 -0.06 8.72 7.86 2.85 12.44 5.57
EBIT Growth(%) 41.65 -1.51 -17.14 66.67 41.37 -18.73 16.39 -9.9 17.8 0.22 -29.97
PAT Growth(%) 35.32 -13.16 -61.61 254.72 49.22 -27.5 15.07 -16.11 25.02 2.43 -62.02
EPS Growth(%) 34.53 -12.66 -61.37 241.03 49.18 -27.51 15.08 -16.11 25.01 -2.92 -68.44
Debt/Equity(x) 1 1.1 2.13 1.1 1.05 0.9 0.8 0.8 0.67 0.4 0.46
Current Ratio(x) 1.69 1.61 1.41 1.48 2.54 2.13 1.67 1.65 1.75 1.77 1.96
Quick Ratio(x) 1.31 1.3 1.08 1.08 1.75 1.51 1.11 1.13 1.21 1.23 1.37
Interest Cover(x) 5.62 4.7 3.86 6.84 7.28 4.92 4.89 3.9 4.92 5.83 3.48
Total Debt/Mcap(x) 0.22 0.21 0.18 0.18 0.2 0.31 0.24 0.84 0.36 0.29 0.33

Glenmark Pharma Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 46.65 46.65 46.65 46.65 46.65 46.65 46.65 46.65 46.65 46.64
FII 24.18 24.12 24.23 23.14 23.2 22.46 25.52 24.8 23.71 21.38
DII 10.87 10.96 10.5 10.94 10.73 10.44 9.15 10.35 10.95 13.4
Public 18.31 18.27 18.63 19.28 19.43 20.45 18.69 18.21 18.69 18.58
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company is almost debt free.

Cons

  • Promoter holding is low: 46.64%.
  • Company has a low return on equity of 10% over the last 3 years.
  • Debtor days have increased from 191.57 to 191.79days.
  • Stock is trading at 3.3 times its book value.
  • The company has delivered a poor profit growth of -14% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Glenmark Pharma News

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