Glaxosmithkline Pharmaceuticals Ltd

Glaxosmithkline Pharmaceuticals Ltd

₹ 2,238 -2.21%
21 Feb - close price
About

GlaxoSmithKline Pharmaceuticals research, manufacture and make available a broad range of medicines and vaccines that benefit people.(Source : Company Web-site)

Key Points

Leading Global Health care company[1] GlaxoSmithKline Pharmaceutical is a part of GlaxoSmithKline plc (GSK), a British multinational pharmaceutical company headquartered in London. GSK underwent a merger in 2000 of Glaxo Wellcome and SmithKline Beecham, and is the world’s sixth-largest pharmaceutical company.

  • Market Cap 37,819 Cr.
  • Current Price 2,238
  • High / Low 2,650 / 1,227
  • Stock P/E 59.0
  • Book Value 90.9
  • Dividend Yield 1.43 %
  • ROCE 36.4 %
  • ROE 26.8 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 46.4%
  • Company has been maintaining a healthy dividend payout of 107%

Cons

  • Stock is trading at 24.6 times its book value
  • The company has delivered a poor sales growth of 2.52% 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.

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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
792 744 718 934 816 810 745 917 802 787 762 957 805
611 588 586 678 618 634 596 660 574 618 618 668 587
Operating Profit 181 157 133 256 198 175 149 257 229 170 144 289 218
OPM % 23% 21% 18% 27% 24% 22% 20% 28% 29% 22% 19% 30% 27%
42 -79 46 30 4 1,322 31 22 12 38 54 28 -135
Interest 1 1 1 0 1 0 1 0 0 1 0 0 0
Depreciation 18 18 18 17 18 15 16 16 16 17 16 18 17
Profit before tax 204 60 160 268 184 1,482 163 262 224 190 181 299 65
Tax % 23% 76% 24% 24% 18% 18% 27% 26% 27% 30% 27% 27% 30%
157 14 121 204 150 1,219 119 193 165 133 132 218 46
EPS in Rs 9.24 0.85 7.15 12.06 8.88 71.96 7.04 11.42 9.71 7.88 7.81 12.84 2.70
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Dec 2011 Dec 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
2,414 2,647 2,563 3,305 2,838 2,908 2,871 3,128 3,224 2,926 3,278 3,252 3,311
1,612 1,824 2,034 2,672 2,360 2,489 2,363 2,527 2,567 2,327 2,516 2,447 2,490
Operating Profit 802 822 528 633 478 420 508 601 657 598 762 804 821
OPM % 33% 31% 21% 19% 17% 14% 18% 19% 20% 20% 23% 25% 25%
-177 30 203 149 125 119 70 131 -262 9 1,401 103 -15
Interest 0 0 0 0 0 0 0 1 6 4 2 2 2
Depreciation 20 18 20 25 25 27 38 49 83 79 68 66 69
Profit before tax 605 834 711 756 578 511 540 683 306 525 2,093 839 736
Tax % 29% 33% 32% 37% 35% 34% 35% 35% 70% 32% 19% 27%
429 562 482 476 376 337 351 445 93 358 1,695 611 529
EPS in Rs 25.30 33.17 28.43 28.12 22.20 19.88 20.70 26.29 5.50 21.14 100.04 36.05 31.23
Dividend Payout % 89% 75% 88% 111% 113% 75% 85% 76% 727% 142% 90% 89%
Compounded Sales Growth
10 Years: 2%
5 Years: 3%
3 Years: 0%
TTM: 1%
Compounded Profit Growth
10 Years: -1%
5 Years: 12%
3 Years: 44%
TTM: 47%
Stock Price CAGR
10 Years: 4%
5 Years: 11%
3 Years: 16%
1 Year: 73%
Return on Equity
10 Years: 27%
5 Years: 34%
3 Years: 46%
Last Year: 27%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Dec 2011 Dec 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 85 85 85 85 85 85 85 169 169 169 169 169 169
Reserves 1,851 1,922 1,905 1,744 2,099 1,922 1,973 1,970 1,651 1,309 2,494 1,572 1,370
5 5 4 3 2 2 1 1 0 35 20 16 21
1,089 1,077 1,136 1,384 869 995 1,889 1,771 1,312 1,602 1,950 1,570 1,709
Total Liabilities 3,030 3,088 3,130 3,216 3,055 3,004 3,947 3,911 3,133 3,115 4,633 3,327 3,270
99 89 100 123 204 258 325 432 758 387 331 330 318
CWIP 16 44 62 115 268 605 923 1,003 120 13 30 20 26
Investments 112 55 10 0 6 0 0 0 0 0 366 518 514
2,802 2,900 2,958 2,977 2,577 2,140 2,700 2,477 2,255 2,715 3,907 2,458 2,412
Total Assets 3,030 3,088 3,130 3,216 3,055 3,004 3,947 3,911 3,133 3,115 4,633 3,327 3,270

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Dec 2011 Dec 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
335 314 281 338 139 234 473 409 490 578 811 484
358 -110 189 180 499 301 -104 -153 -57 418 -406 808
-395 -441 -494 -497 -638 -511 -307 -358 -428 -696 -524 -1,543
Net Cash Flow 299 -237 -24 21 -0 24 62 -102 6 300 -119 -251

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Dec 2011 Dec 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 13 16 14 11 16 21 19 14 11 27 23 22
Inventory Days 132 94 109 91 156 111 147 131 135 159 144 131
Days Payable 80 78 90 74 97 73 149 109 100 135 156 122
Cash Conversion Cycle 66 32 33 27 75 60 17 36 46 50 11 31
Working Capital Days -49 -42 -45 -48 26 7 -90 -72 -38 -37 -92 -55
ROCE % 48% 50% 34% 42% 29% 22% 26% 31% 33% 38% 37% 36%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00%
1.59% 1.61% 1.72% 2.04% 2.18% 2.16% 2.17% 2.28% 2.28% 2.41% 2.50% 2.93%
10.85% 10.93% 10.83% 10.73% 10.73% 10.65% 10.54% 10.29% 10.31% 10.25% 10.01% 8.64%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.01% 0.01%
12.56% 12.46% 12.45% 12.23% 12.09% 12.19% 12.29% 12.43% 12.43% 12.35% 12.48% 13.42%
No. of Shareholders 1,19,9521,20,4761,21,4451,23,4801,10,1411,12,9641,16,6511,20,1271,20,4151,19,0321,15,2681,14,663

* 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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