Gland Pharma Ltd

Gland Pharma Ltd

₹ 1,750 -2.39%
12 Apr - 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 28,819 Cr.
  • Current Price 1,750
  • High / Low 2,196 / 861
  • Stock P/E 41.6
  • Book Value 504
  • Dividend Yield 0.00 %
  • ROCE 14.8 %
  • ROE 10.9 %
  • Face Value 1.00

Pros

  • Company is almost debt free.
  • Company is expected to give good quarter

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

Consolidated Figures in Rs. Crores / View Standalone

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 1,044 938 785 1,209 1,373 1,545
595 560 718 704 714 755 587 748 649 617 915 1,049 1,189
Operating Profit 264 328 436 377 349 348 270 297 290 168 294 324 356
OPM % 31% 37% 38% 35% 33% 32% 32% 28% 31% 21% 24% 24% 23%
35 47 62 51 46 65 74 66 62 -18 38 53 37
Interest 1 1 1 1 1 2 1 2 3 2 5 6 5
Depreciation 25 25 25 26 28 31 35 37 38 38 65 81 105
Profit before tax 273 349 472 401 366 380 308 324 311 111 261 290 283
Tax % 25% 25% 26% 25% 25% 25% 26% 26% 25% 29% 26% 33% 32%
204 260 351 302 273 286 229 241 232 79 194 194 192
EPS in Rs 12.50 15.92 21.39 18.39 16.62 17.40 13.92 14.65 14.08 4.78 11.79 11.78 11.65
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
2,633 3,463 4,401 3,625 4,912
1,678 2,161 2,890 2,600 3,769
Operating Profit 955 1,302 1,510 1,025 1,143
OPM % 36% 38% 34% 28% 23%
139 135 224 184 111
Interest 7 3 5 7 18
Depreciation 95 99 110 147 290
Profit before tax 993 1,335 1,619 1,055 945
Tax % 22% 25% 25% 26%
773 997 1,212 781 659
EPS in Rs 49.88 60.94 73.75 47.42 40.00
Dividend Payout % 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 11%
TTM: 25%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 3%
TTM: -30%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: -11%
1 Year: 40%
Return on Equity
10 Years: %
5 Years: %
3 Years: 16%
Last Year: 11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 16 16 16 16 16
Reserves 3,631 5,887 7,141 7,942 8,290
5 5 5 4 357
435 588 671 814 1,629
Total Liabilities 4,086 6,496 7,834 8,778 10,293
968 954 1,502 1,571 3,703
CWIP 188 338 191 177 320
Investments 0 0 155 0 0
2,929 5,204 5,986 7,030 6,270
Total Assets 4,086 6,496 7,834 8,778 10,293

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023
701 605 791 364
-761 -1,520 -999 1,211
-7 1,238 35 15
Net Cash Flow -67 323 -174 1,590

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 83 71 89 88
Inventory Days 250 312 205 421
Days Payable 82 97 80 127
Cash Conversion Cycle 251 286 214 382
Working Capital Days 161 169 168 242
ROCE % 28% 25% 15%

Shareholding Pattern

Numbers in percentages

10 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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