Glenmark Pharmaceuticals Ltd

Glenmark Pharmaceuticals is a global pharmaceutical company. The Company is engaged in the development of new chemical entities (NCEs) and new biological entities (NBEs).

  • Market Cap: 12,209 Cr.
  • Current Price: 432.70
  • 52 weeks High / Low 573.05 / 161.65
  • Book Value: 468.74
  • Stock P/E: 9.12
  • Dividend Yield: 0.46 %
  • ROCE: 12.87 %
  • ROE: 12.04 %
  • Sales Growth (3Yrs): 1.02 %
  • Listed on BSE and NSE
  • Company Website
  • Face Value: 1.00
Edit ratios
Pros:
Stock is trading at 0.92 times its book value
Debtor days have improved from 183.74 to 120.83 days.
Cons:
Tax rate seems low
Contingent liabilities of Rs.3680.94 Cr.
Earnings include an other income of Rs.625.34 Cr.
Dividend payout has been low at 3.89% of profits over last 3 years
** Remarks:
Some businesses are provided tax benefits to encourage their development

Peer comparison Sector: Pharmaceuticals // Industry: Pharmaceuticals - Indian - Bulk Drugs & Formln

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020
1,548 1,427 1,330 1,446 1,406 1,680 1,632 1,587 1,499 1,790 1,816 1,608
1,195 1,107 1,120 1,166 1,088 1,288 1,283 1,319 1,190 1,409 1,403 1,406
Operating Profit 353 320 210 281 318 392 349 269 309 381 414 202
OPM % 23% 22% 16% 19% 23% 23% 21% 17% 21% 21% 23% 13%
43 104 71 73 228 616 -58 168 69 192 94 270
Interest 46 47 47 51 55 61 55 53 68 65 60 64
Depreciation 30 24 24 24 27 27 26 26 32 33 38 35
Profit before tax 320 353 210 279 463 921 210 358 277 475 411 373
Tax % 15% 7% 8% 21% 14% 19% 7% 21% 18% 9% 16% 6%
Net Profit 271 328 194 222 397 748 196 281 228 432 346 349
EPS in Rs 9.60 11.62 6.88 7.85 14.08 26.49 6.94 9.97 8.07 15.31 12.25 12.38
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
1,340 823 983 1,163 1,565 1,949 2,301 5,086 6,115 7,989 5,520 6,305 6,713
858 603 819 877 1,253 1,617 1,805 3,618 4,349 5,089 4,417 4,977 5,408
Operating Profit 482 221 164 286 311 332 496 1,467 1,766 2,900 1,103 1,327 1,304
OPM % 36% 27% 17% 25% 20% 17% 22% 29% 29% 36% 20% 21% 19%
23 139 78 72 55 116 67 -86 116 -89 326 955 625
Interest 44 95 100 86 61 44 31 30 36 153 191 224 256
Depreciation 29 19 21 21 21 25 30 119 100 105 96 106 139
Profit before tax 431 246 121 251 284 380 502 1,232 1,747 2,553 1,143 1,952 1,535
Tax % 10% 11% -6% 15% 7% -2% 14% 18% 15% 16% 11% 17%
Net Profit 389 218 128 212 265 386 434 1,008 1,484 2,141 1,014 1,622 1,355
EPS in Rs 15.53 8.63 4.69 7.78 9.48 13.92 15.66 36.72 52.60 75.86 35.95 57.49 48.01
Dividend Payout % 4% 5% 8% 5% 20% 14% 12% 5% 4% 3% 6% 3%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:22.58%
5 Years:22.34%
3 Years:1.02%
TTM:6.47%
Compounded Profit Growth
10 Years:19.98%
5 Years:25.38%
3 Years:-3.25%
TTM:-0.97%
Stock Price CAGR
10 Years:4.60%
5 Years:-15.74%
3 Years:-12.98%
1 Year:0.50%
Return on Equity
10 Years:17.44%
5 Years:18.47%
3 Years:15.88%
Last Year:12.04%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
25 25 27 27 27 27 27 27 28 28 28 28 28
Reserves 1,003 1,205 1,746 1,953 2,159 2,496 2,879 4,925 7,338 9,408 10,363 11,914 13,198
Borrowings 528 1,066 760 1,143 489 581 353 410 787 2,777 2,981 3,134 3,574
371 272 234 251 494 782 970 2,289 1,960 1,787 1,892 2,066 2,152
Total Liabilities 1,927 2,567 2,767 3,374 3,169 3,886 4,230 7,651 10,113 14,001 15,265 17,143 18,952
368 173 190 224 224 276 449 1,231 1,438 1,596 1,699 1,413 1,659
CWIP 226 32 47 34 69 172 83 294 276 271 420 286 152
Investments 197 238 993 1,041 1,083 1,294 1,409 1,660 1,858 1,867 3,213 3,269 4,714
1,137 2,124 1,537 2,076 1,793 2,143 2,289 4,466 6,541 10,267 9,933 12,174 12,426
Total Assets 1,927 2,567 2,767 3,374 3,169 3,886 4,230 7,651 10,113 14,001 15,265 17,143 18,952

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
247 94 983 421 195 253 114 145 355 878 1,124 2,490
-16 -589 -1,000 -655 602 -119 211 -176 -1,545 -2,580 -1,137 -2,256
-231 496 10 259 -780 -14 -385 -32 1,223 1,879 -62 -155
Net Cash Flow -0 1 -7 26 16 120 -60 -64 32 177 -75 79

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 32% 18% 9% 12% 12% 15% 17% 33% 26% 29% 10% 13%
Debtor Days 162 182 123 59 84 104 180 175 182 177 253 121
Inventory Turnover 1.71 1.13 2.07 2.28 2.64 3.07 3.15 3.74 2.41 2.41 1.90 2.41

Shareholding pattern in percentages

Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020
46.53 46.53 46.54 46.54 46.54 46.54 46.54 46.54 46.58 46.58 46.59 46.62
33.53 33.26 31.03 30.75 30.61 30.90 32.27 32.62 31.04 31.37 30.16 28.51
5.36 5.30 6.04 6.62 6.94 7.29 6.93 6.93 7.68 7.43 7.04 6.75
14.58 14.92 16.40 16.10 15.91 15.28 14.26 13.90 14.71 14.62 16.21 18.12