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).

Pros:
Stock is trading at 0.87 times its book value
Cons:
Contingent liabilities of Rs.4549.60 Cr.
Earnings include an other income of Rs.795.21 Cr.

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

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
2,171 2,192 2,065 1,548 1,427 1,330 1,446 1,406 1,680 1,632 1,587 1,499
1,390 1,347 1,393 1,195 1,107 1,120 1,166 1,088 1,288 1,283 1,319 1,190
Operating Profit 781 844 672 353 320 210 281 318 392 349 269 309
OPM % 36% 39% 33% 23% 22% 16% 19% 23% 23% 21% 17% 21%
Other Income -6 106 -287 43 104 71 73 228 616 -58 168 69
Interest 42 50 50 46 47 47 51 55 61 55 53 68
Depreciation 26 26 27 30 24 24 24 27 27 26 26 32
Profit before tax 707 875 308 320 353 210 279 463 921 210 358 277
Tax % 21% 19% -16% 15% 7% 8% 21% 14% 19% 7% 21% 18%
Net Profit 556 711 357 271 328 194 222 397 748 196 281 228
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
783 1,340 823 983 1,163 1,565 1,949 2,301 5,086 6,115 7,989 6,403 6,398
572 858 603 819 877 1,253 1,617 1,805 3,618 4,349 5,089 5,053 5,079
Operating Profit 211 482 221 164 286 311 332 496 1,467 1,766 2,900 1,350 1,319
OPM % 27% 36% 27% 17% 25% 20% 17% 22% 29% 29% 36% 21% 21%
Other Income 23 23 139 78 72 55 116 67 -86 116 -89 178 795
Interest 39 44 95 100 86 61 44 31 30 36 153 191 237
Depreciation 23 29 19 21 21 21 25 30 119 100 105 118 111
Profit before tax 171 431 246 121 251 284 380 502 1,232 1,747 2,553 1,219 1,766
Tax % 21% 10% 11% -6% 15% 7% -2% 14% 18% 15% 16% 17%
Net Profit 135 389 218 128 212 265 386 434 1,008 1,484 2,141 1,014 1,453
EPS in Rs 5.53 15.53 8.63 4.69 7.78 9.48 13.92 15.66 36.72 52.60 75.86 35.95
Dividend Payout % 7% 4% 5% 8% 5% 20% 14% 12% 5% 4% 3% 6%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:16.93%
5 Years:26.85%
3 Years:7.98%
TTM:14.06%
Compounded Profit Growth
10 Years:10.22%
5 Years:21.36%
3 Years:-3.74%
TTM:27.32%
Return on Equity
10 Years:18.99%
5 Years:20.56%
3 Years:19.71%
Last Year:10.25%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
24 25 25 27 27 27 27 27 27 28 28 28 28
Reserves 426 1,003 1,205 1,746 1,953 2,159 2,496 2,879 4,925 7,338 9,408 10,363 11,914
Borrowings 909 528 1,066 760 1,143 489 581 353 410 787 2,777 2,981 3,134
266 380 280 243 251 504 792 981 2,314 2,148 2,014 2,288 2,066
Total Liabilities 1,625 1,935 2,576 2,777 3,374 3,179 3,896 4,240 7,676 10,301 14,227 15,661 17,143
277 368 173 190 224 224 276 449 1,231 1,438 1,596 1,699 1,490
CWIP 156 226 32 47 34 69 172 83 294 276 271 420 209
Investments 139 197 238 993 1,041 1,083 1,294 1,409 1,660 1,858 1,867 3,213 3,269
1,053 1,146 2,133 1,546 2,076 1,803 2,154 2,299 4,491 6,729 10,493 10,329 12,174
Total Assets 1,625 1,935 2,576 2,777 3,374 3,179 3,896 4,240 7,676 10,301 14,227 15,661 17,143

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
-9 247 94 983 421 195 253 114 145 355 878 1,124
-238 -16 -589 -1,000 -655 602 -119 211 -176 -1,545 -2,580 -1,137
169 -231 496 10 259 -780 -14 -385 -32 1,223 1,879 -62
Net Cash Flow -78 -0 1 -7 26 16 120 -60 -64 32 177 -75

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 17% 32% 18% 9% 12% 12% 15% 17% 33% 26% 29% 11%
Debtor Days 196 162 182 123 59 84 104 180 175 182 177 218
Inventory Turnover 4.38 5.45 4.08 7.01 7.57 9.40 10.65 11.49 10.74 7.17 7.56 5.68