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Glenmark Pharma

₹1545 8.8 | 0.6%

Market Cap ₹43598 Cr.

Stock P/E -23.8

P/B 5.2

Current Price ₹1545

Book Value ₹ 299.3

Face Value 1

52W High ₹1830.1

Dividend Yield 0.16%

52W Low ₹ 766.7

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.) Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
Net Sales 2777 3018 3100 3001 3036 3207 2507 3063 3244 3434
Other Income 183 86 71 -42 20 2 45 773 31 39
Total Income 2960 3104 3171 2958 3056 3209 2552 3836 3276 3473
Total Expenditure 2346 2539 2626 2603 2599 2745 2715 2559 2656 2832
Operating Profit 615 565 545 355 457 464 -163 1278 620 641
Interest 60 83 97 109 112 121 134 149 40 48
Depreciation 147 146 152 135 142 141 147 151 118 120
Exceptional Income / Expenses 0 0 34 -800 -52 -325 -77 -447 0 0
Profit Before Tax 408 337 330 -688 151 -124 -521 531 462 473
Provision for Tax 197 165 144 -139 114 56 -72 1769 122 118
Profit After Tax 211 172 186 -549 38 -180 -450 -1239 340 354
Adjustments -19 89 87 121 112 98 98 20 0 -0
Profit After Adjustments 193 260 273 -428 150 -82 -351 -1218 340 354
Adjusted Earnings Per Share 6.8 9.2 9.7 -15.2 5.3 -2.9 -12.5 -43.2 12.1 12.6

Glenmark Pharma Profit & Loss

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
Net Sales 5945 6681 7562 9079 9074 9865 10641 10944 12305 11583 11813 12248
Other Income 11 7 20 37 91 208 160 50 167 289 840 888
Total Income 5956 6688 7582 9117 9166 10074 10801 10994 12472 11872 12653 13137
Total Expenditure 4854 5467 6125 7043 7459 8280 8943 8860 9985 9948 10618 10762
Operating Profit 1102 1221 1457 2074 1707 1794 1858 2135 2487 1924 2035 2376
Interest 189 190 179 237 286 335 377 353 298 349 516 371
Depreciation 217 300 234 264 302 326 417 444 487 569 582 536
Exceptional Income / Expenses 0 -187 0 -81 0 167 33 45 -261 -766 -901 -524
Profit Before Tax 697 544 1044 1491 1119 1301 1096 1382 1441 240 36 945
Provision for Tax 151 334 301 383 315 376 320 412 448 329 1867 1937
Profit After Tax 546 209 743 1109 804 925 776 970 994 -90 -1831 -995
Adjustments -3 0 0 0 -0 -0 -0 -0 -52 387 329 118
Profit After Adjustments 542 210 743 1109 804 925 776 970 942 297 -1502 -875
Adjusted Earnings Per Share 20 7.7 26.3 39.3 28.5 32.8 27.5 34.4 33.4 10.5 -53.2 -31

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 2% 3% 4% 7%
Operating Profit CAGR 6% -2% 3% 6%
PAT CAGR 0% NAN% NAN% NAN%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 83% 45% 35% 7%
ROE Average -21% -3% 4% 12%
ROCE Average 5% 8% 11% 14%

Glenmark Pharma Balance Sheet

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Shareholder's Funds 2983 1783 3630 4493 5163 5605 6071 7065 9087 9474 7848
Minority's Interest 13 -0 -0 -0 -0 -0 -0 -0 351 365 -0
Borrowings 2429 2574 2487 4536 4142 3574 4043 3889 2572 3852 0
Other Non-Current Liabilities -462 175 -988 -1279 -1318 -1294 -1010 -1085 -1302 -1231 -357
Total Current Liabilities 2949 3777 3999 2703 3288 4021 4126 4201 4689 4546 5819
Total Liabilities 7912 8309 9128 10453 11275 11906 13229 14069 15397 17566 13309
Fixed Assets 2890 2015 2594 2755 3030 3670 5029 5129 5887 5422 4210
Other Non-Current Assets 260 963 630 823 1257 1539 1397 1580 1228 1418 1671
Total Current Assets 4763 5331 5904 6875 6989 6697 6804 7360 8282 8424 7428
Total Assets 7912 8309 9128 10453 11275 11906 13229 14069 15397 17566 13309

Glenmark Pharma Cash Flow

#(Fig in Cr.) Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Opening Cash & Cash Equivalents 605 795 764 857 1056 1233 936 1110 1138 1411 1443
Cash Flow from Operating Activities 854 482 345 657 1648 1324 1392 1131 1109 625 -265
Cash Flow from Investing Activities -368 -540 -880 -712 -1013 -699 -784 -675 -333 -528 4561
Cash Flow from Financing Activities -98 199 699 543 -468 -739 -445 -442 -520 -77 -3906
Net Cash Inflow / Outflow 388 141 163 488 166 -114 164 14 255 19 389
Closing Cash & Cash Equivalent 795 764 857 1056 1233 936 1110 1138 1411 1443 1658

Glenmark Pharma Ratios

# Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Earnings Per Share (Rs) 19.99 7.72 26.34 39.3 28.49 32.78 27.5 34.38 33.37 10.53 -53.21
CEPS(Rs) 28.11 18.79 34.64 48.66 39.19 44.33 42.28 50.1 52.46 17 -44.26
DPS(Rs) 2 2 2 2 2 2 2.5 2.5 2.5 2.5 2.5
Book NAV/Share(Rs) 109.99 65.74 128.59 159.16 182.62 198.27 214.65 249.6 321.45 335.13 277.46
Core EBITDA Margin(%) 18.16 17.96 18.79 22.17 17.75 16.07 15.96 8.26 8.35 5.79 4.31
EBIT Margin(%) 14.75 10.85 15.99 18.82 15.43 16.58 13.85 6.88 6.26 2.09 1.99
Pre Tax Margin(%) 11.6 8.04 13.65 16.24 12.3 13.18 10.3 5.48 5.18 0.85 0.13
PAT Margin (%) 9.09 3.1 9.71 12.07 8.83 9.38 7.29 3.84 3.57 -0.32 -6.61
Cash Profit Margin (%) 12.7 7.54 12.78 14.95 12.15 12.68 11.21 5.6 5.32 1.7 -4.51
ROA(%) 7.51 2.58 8.52 11.33 7.4 7.98 6.17 7.11 6.74 -0.54 -11.86
ROE(%) 18.99 8.79 27.46 27.31 16.67 17.21 13.32 14.81 12.33 -0.97 -21.18
ROCE(%) 15.04 12.4 18.53 20.54 14.77 16.47 14.04 15.3 14.19 4.43 4.88
Receivable days 115.37 125.97 119.39 97.29 94.95 83.73 78.95 36.01 37.24 43.76 36.38
Inventory Days 53.99 59.42 67.68 73.65 83.59 79.22 75.25 31.9 31.35 31.52 32.19
Payable days 185.99 353.59 310.27 263.45 221.98 226.86 218.9 219.98 191.57 186.18 190.23
PER(x) 28.3 101.76 30.15 21.83 18.51 19.69 7.49 13.51 13.25 44.14 0
Price/Book(x) 5.14 11.96 6.18 5.39 2.89 3.26 0.96 1.86 1.38 1.39 3.45
Dividend Yield(%) 0.35 0.25 0.25 0.23 0.38 0.31 1.21 0.54 0.57 0.54 0.26
EV/Net Sales(x) 3 3.64 3.38 3.07 2.01 2.2 0.9 1.52 1.2 1.41 2.23
EV/Core EBITDA(x) 16.16 19.94 17.53 13.44 10.71 12.11 5.15 7.8 5.93 8.48 12.95
Net Sales Growth(%) 19.64 12.38 13.18 20.07 -0.06 8.72 7.86 2.85 12.44 -5.86 1.98
EBIT Growth(%) -1.51 -17.14 66.67 41.37 -18.73 16.39 -9.9 17.8 0.22 -66.14 -6.18
PAT Growth(%) -13.16 -61.61 254.72 49.22 -27.5 15.07 -16.11 25.02 2.43 -109.01 -1944.25
EPS Growth(%) -12.66 -61.37 241.03 49.18 -27.51 15.08 -16.11 25.01 -2.92 -68.44 -605.16
Debt/Equity(x) 1.1 2.13 1.1 1.05 0.9 0.8 0.8 0.67 0.4 0.46 0.13
Current Ratio(x) 1.61 1.41 1.48 2.54 2.13 1.67 1.65 1.75 1.77 1.85 1.28
Quick Ratio(x) 1.3 1.08 1.08 1.75 1.51 1.11 1.13 1.21 1.23 1.33 0.84
Interest Cover(x) 4.7 3.86 6.84 7.28 4.92 4.89 3.9 4.92 5.83 1.69 1.07
Total Debt/Mcap(x) 0.21 0.18 0.18 0.2 0.31 0.24 0.84 0.36 0.29 0.33 0.04

Glenmark Pharma Shareholding Pattern

# Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
Promoter 46.65 46.65 46.65 46.65 46.65 46.65 46.65 46.64 46.65 46.65
FII 24.23 23.14 23.2 22.46 25.52 24.8 23.71 21.38 20.98 23.05
DII 10.5 10.94 10.73 10.44 9.15 10.35 10.95 13.4 13.96 13.25
Public 18.63 19.28 19.43 20.45 18.69 18.21 18.69 18.58 18.41 17.06
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 46.65%.
  • Company has a low return on equity of -3% over the last 3 years.
  • Debtor days have increased from 186.18 to 190.23days.
  • Stock is trading at 5.2 times its book value.

* 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.

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