Gland Pharma Ltd

Gland Pharma Ltd

₹ 1,788 1.22%
01 Mar - close price
About

Established in Hyderabad, India in 1978, Gland Pharma has grown over the years from a contract manufacturer of small volume liquid parenteral products, to become one of the largest and fastest growing injectable-focused companies, with a global footprint across 60 countries, including the United States, Europe, Canada, Australia, India and other markets. We operate primarily under a business to business (B2B) model and have an excellent track record in the development, manufacturing and marketing of complex injectables. This presence across the value chain has helped us witness exponential growth. We are promoted by Shanghai Fosun Pharma, a global pharmaceutical major.

Key Points

Revenue breakup
Gland Pharma is primarily a contract manufacturer of injectables, with B2B segment generating ~95% of revenues in FY22 [1]

  • Market Cap 29,442 Cr.
  • Current Price 1,788
  • High / Low 2,196 / 861
  • Stock P/E 35.2
  • Book Value 510
  • Dividend Yield 0.00 %
  • ROCE 14.7 %
  • ROE 10.8 %
  • Face Value 1.00

Pros

  • Company is almost debt free.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend

* 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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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
859 888 1,154 1,080 1,063 1,103 857 1,048 926 785 884 1,011 1,098
595 560 718 704 714 755 587 753 642 616 625 664 728
Operating Profit 264 328 436 377 349 348 270 295 284 169 259 347 369
OPM % 31% 37% 38% 35% 33% 32% 32% 28% 31% 22% 29% 34% 34%
35 47 62 51 46 65 74 66 62 -18 35 41 43
Interest 1 1 1 1 1 2 1 2 3 2 2 1 1
Depreciation 25 25 25 26 28 31 35 37 38 38 39 40 40
Profit before tax 273 349 472 401 366 381 309 322 305 112 254 347 372
Tax % 25% 25% 26% 25% 25% 25% 26% 26% 25% 29% 26% 26% 26%
204 260 351 302 273 286 229 240 228 79 188 258 277
EPS in Rs 12.50 15.92 21.40 18.40 16.64 17.41 13.94 14.55 13.82 4.81 11.39 15.64 16.81
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
527 755 991 994 1,348 1,479 1,620 2,044 2,633 3,463 4,401 3,617 3,778
394 519 630 678 845 854 1,085 1,338 1,678 2,161 2,890 2,598 2,633
Operating Profit 133 236 361 316 502 625 535 706 955 1,302 1,511 1,019 1,145
OPM % 25% 31% 36% 32% 37% 42% 33% 35% 36% 38% 34% 28% 30%
14 5 9 30 37 34 49 66 139 135 224 184 102
Interest 3 13 13 17 16 6 4 4 7 3 5 7 5
Depreciation 11 15 28 57 63 74 78 82 95 99 110 147 157
Profit before tax 133 213 327 272 459 578 502 686 993 1,335 1,619 1,048 1,085
Tax % 24% 26% 32% 23% 32% 28% 36% 34% 22% 25% 25% 26%
101 158 224 209 314 414 321 452 773 997 1,212 776 801
EPS in Rs 86.09 134.45 190.40 133.53 202.40 267.01 207.24 291.65 49.88 60.94 73.78 47.11 48.65
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 17%
5 Years: 17%
3 Years: 11%
TTM: -4%
Compounded Profit Growth
10 Years: 18%
5 Years: 20%
3 Years: 2%
TTM: -15%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: -10%
1 Year: 39%
Return on Equity
10 Years: 18%
5 Years: 17%
3 Years: 16%
Last Year: 11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 12 12 12 16 15 16 16 16 16 16 16 16 16
Reserves 440 598 822 1,379 1,662 2,074 2,395 2,847 3,631 5,887 7,142 7,937 8,382
84 123 176 166 117 6 6 5 5 5 5 4 4
182 187 277 197 292 378 512 655 435 588 671 815 693
Total Liabilities 718 920 1,287 1,758 2,086 2,474 2,928 3,523 4,086 6,496 7,834 8,773 9,095
206 309 460 649 788 872 843 929 968 954 1,502 1,571 1,550
CWIP 143 202 208 192 202 161 199 123 188 338 191 177 243
Investments 0 0 0 0 0 0 0 0 0 1 163 8 1,891
369 409 619 917 1,096 1,441 1,887 2,471 2,929 5,203 5,978 7,017 5,410
Total Assets 718 920 1,287 1,758 2,086 2,474 2,928 3,523 4,086 6,496 7,834 8,773 9,095

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
220 476 202 185 701 605 791 368
-12 -100 -359 -319 -761 -1,521 -1,007 1,211
-93 -116 -4 -3 -7 1,238 35 15
Net Cash Flow 115 260 -160 -136 -67 322 -181 1,594

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 64 62 62 62 95 103 107 90 83 71 89 87
Inventory Days 230 169 229 283 248 271 283 388 250 312 205 421
Days Payable 68 57 74 58 60 136 161 190 82 97 80 128
Cash Conversion Cycle 225 174 217 288 283 239 229 289 251 286 214 381
Working Capital Days 84 70 100 141 155 154 185 191 161 169 168 241
ROCE % 29% 36% 39% 22% 28% 30% 22% 27% 30% 28% 25% 15%

Shareholding Pattern

Numbers in percentages

19 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
58.25% 58.14% 58.02% 58.00% 58.00% 57.87% 57.86% 57.86% 57.86% 57.86% 57.86% 57.86%
11.87% 10.44% 11.01% 11.30% 10.72% 9.41% 6.10% 4.67% 4.33% 2.80% 4.91% 4.05%
11.25% 12.10% 11.75% 11.66% 12.46% 17.36% 21.92% 23.13% 23.23% 23.38% 22.45% 24.17%
18.63% 19.32% 19.21% 19.05% 18.82% 15.35% 14.13% 14.35% 14.59% 15.97% 14.78% 13.93%
No. of Shareholders 84,46798,2031,09,3261,09,0971,09,0981,17,3391,27,8791,48,4691,50,5781,81,7471,61,6271,36,021

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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