Gland Pharma Ltd
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.
Revenue breakup
GLand Pharma is primarily a contract manufacturer of injectables, with B2B segment generating 96% of revenues in FY20 #
US accounted for 71% of revenues in FY20 whereas India accounted for 18.50% of revenues in FY20 #
Within India, Gland has a sales force of 200 people serving B2C market #
- Market Cap ₹ 43,651 Cr.
- Current Price ₹ 2,670
- High / Low ₹ 2,693 / 1,831
- Stock P/E 57.4
- Book Value ₹ 242
- Dividend Yield 0.00 %
- ROCE 30.2 %
- ROE 23.4 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
- Company is almost debt free.
Cons
- Stock is trading at 11.01 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
Peer comparison
Sector: Pharmaceuticals Industry: Pharmaceuticals - Indian - Bulk Drugs
Quarterly Results
Figures in Rs. Crores
Jun 2019 | Dec 2019 | Jun 2020 | Sep 2020 | Dec 2020 | |
---|---|---|---|---|---|
674 | 646 | 884 | 832 | 859 | |
411 | 434 | 472 | 534 | 595 | |
Operating Profit | 263 | 212 | 413 | 298 | 264 |
OPM % | 39% | 33% | 47% | 36% | 31% |
Other Income | 34 | 25 | 32 | 20 | 35 |
Interest | 0 | 6 | 0 | 1 | 1 |
Depreciation | 22 | 24 | 24 | 25 | 25 |
Profit before tax | 274 | 207 | 420 | 293 | 273 |
Tax % | 33% | 26% | 25% | 25% | 25% |
Net Profit | 184 | 154 | 314 | 219 | 204 |
EPS in Rs | |||||
Notes | Notes | Notes | Notes | Notes |
Profit & Loss
Figures in Rs. Crores
Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | |
---|---|---|---|---|---|
1,348 | 1,479 | 1,620 | 2,044 | 2,633 | |
845 | 854 | 1,085 | 1,338 | 1,678 | |
Operating Profit | 502 | 625 | 535 | 706 | 955 |
OPM % | 37% | 42% | 33% | 35% | 36% |
Other Income | 37 | 34 | 49 | 66 | 139 |
Interest | 16 | 6 | 4 | 4 | 7 |
Depreciation | 63 | 74 | 78 | 82 | 95 |
Profit before tax | 459 | 578 | 502 | 686 | 993 |
Tax % | 32% | 28% | 36% | 34% | 22% |
Net Profit | 314 | 414 | 321 | 452 | 773 |
EPS in Rs | |||||
Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 21% |
TTM: | 29% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 22% |
TTM: | 63% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | % |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 19% |
Last Year: | 23% |
Balance Sheet
Figures in Rs. Crores
Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Jun 2020 | |
---|---|---|---|---|---|---|
15 | 16 | 16 | 16 | 16 | 16 | |
Reserves | 1,662 | 2,074 | 2,395 | 2,847 | 3,631 | 3,948 |
Borrowings | 117 | 6 | 6 | 5 | 5 | 4 |
292 | 378 | 512 | 655 | 435 | 724 | |
Total Liabilities | 2,086 | 2,474 | 2,928 | 3,523 | 4,086 | 4,691 |
788 | 872 | 843 | 929 | 968 | 951 | |
CWIP | 202 | 161 | 199 | 123 | 188 | 254 |
Investments | 0 | 0 | 0 | 0 | 0 | 0 |
1,096 | 1,441 | 1,887 | 2,471 | 2,929 | 3,486 | |
Total Assets | 2,086 | 2,474 | 2,928 | 3,523 | 4,086 | 4,691 |
Cash Flows
Figures in Rs. Crores
Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | |
---|---|---|---|---|---|
220 | 476 | 202 | 185 | 701 | |
-12 | -100 | -359 | -319 | -761 | |
-93 | -116 | -4 | -3 | -7 | |
Net Cash Flow | 115 | 260 | -160 | -136 | -67 |
Ratios
Figures in Rs. Crores
Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | |
---|---|---|---|---|---|
ROCE % | 30% | 22% | 27% | 30% | |
Debtor Days | 95 | 103 | 107 | 90 | 83 |
Inventory Turnover | 1.50 | 1.62 | 0.98 | 1.10 |
Documents
Add documentRecent announcements
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 39m
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 25 Feb
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 23 Feb
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 18 Feb
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 15 Feb
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