Glenmark Pharmaceuticals Ltd

About [ edit ]

Glenmark Pharmaceuticals is primarily engaged in the business of development, manufacture and marketing of pharmaceutical products.(Source : 202003-01 Annual Report Page No:138)

  • Market Cap 17,168 Cr.
  • Current Price 609
  • High / Low 640 / 329
  • Stock P/E 19.0
  • Book Value 230
  • Dividend Yield 0.41 %
  • ROCE 13.7 %
  • ROE 13.0 %
  • Face Value 1.00

Pros

  • Company has reduced debt.

Cons

  • Stock is trading at 2.64 times its book value
  • The company has delivered a poor sales growth of 10.15% over past five years.
  • Dividend payout has been low at 7.40% of profits over last 3 years
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
2,280 2,166 2,581 2,555 2,563 2,323 2,815 2,736 2,767 2,345 2,952 2,787
1,953 1,819 2,141 2,120 2,199 1,981 2,365 2,295 2,302 1,867 2,400 2,257
Operating Profit 327 347 440 435 364 342 450 440 466 478 553 530
OPM % 14% 16% 17% 17% 14% 15% 16% 16% 17% 20% 19% 19%
Other Income 70 138 307 -109 39 2 81 33 77 86 -29 29
Interest 74 79 85 89 82 93 90 96 98 94 81 95
Depreciation 74 79 82 83 81 91 94 106 126 113 104 115
Profit before tax 248 327 580 154 240 160 347 271 318 358 339 348
Tax % 39% 29% 29% 24% 33% 32% 26% 30% 31% 29% 31% 29%
Net Profit 152 233 414 116 162 109 256 191 220 254 234 248
EPS in Rs 5.37 8.26 14.67 4.12 5.73 3.87 9.06 6.76 7.81 9.00 8.29 8.80

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
2,040 2,412 2,949 4,021 5,012 6,005 6,563 7,562 9,079 9,074 9,865 10,641 10,852
1,702 1,792 2,357 3,306 3,997 4,914 5,348 6,125 7,045 7,457 8,280 8,943 8,825
Operating Profit 338 620 592 714 1,015 1,091 1,214 1,437 2,035 1,617 1,586 1,698 2,027
OPM % 17% 26% 20% 18% 20% 18% 18% 19% 22% 18% 16% 16% 19%
Other Income 179 50 144 18 11 11 -180 20 -42 89 375 192 163
Interest 146 166 160 147 160 189 190 179 237 286 335 377 368
Depreciation 103 121 95 98 127 217 300 234 264 302 326 417 459
Profit before tax 269 384 482 488 739 697 544 1,044 1,491 1,119 1,301 1,096 1,363
Tax % 28% 14% 5% 5% 15% 22% 61% 29% 26% 28% 29% 29%
Net Profit 192 324 453 460 620 542 210 743 1,109 804 925 776 957
EPS in Rs 7.65 12.03 16.77 17.02 22.89 19.99 7.72 26.33 39.29 28.49 32.78 27.50 33.90
Dividend Payout % 5% 3% 2% 3% 0% 0% 26% 8% 5% 7% 6% 9%
Compounded Sales Growth
10 Years:16%
5 Years:10%
3 Years:5%
TTM:4%
Compounded Profit Growth
10 Years:9%
5 Years:29%
3 Years:-13%
TTM:26%
Stock Price CAGR
10 Years:8%
5 Years:-7%
3 Years:7%
1 Year:83%
Return on Equity
10 Years:19%
5 Years:19%
3 Years:15%
Last Year:13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
25 27 27 27 27 27 27 28 28 28 28 28 28
Reserves 1,573 2,328 2,010 2,375 2,736 2,956 1,756 3,601 4,464 5,135 5,577 6,042 6,467
Borrowings 2,094 1,869 2,108 2,244 2,765 3,267 3,800 3,988 4,724 4,639 4,449 4,869 2,959
516 603 804 1,087 1,466 2,176 2,726 2,575 2,548 2,793 3,235 3,729 5,638
Total Liabilities 4,209 4,827 4,950 5,733 6,994 8,427 8,309 10,193 11,764 12,595 13,289 14,668 15,092
1,566 1,787 2,034 2,223 2,822 3,091 2,015 2,594 2,755 3,030 3,670 5,029 5,277
CWIP 545 601 178 263 6 5 477 543 708 1,122 1,399 1,222 1,128
Investments 18 18 0 0 0 0 17 17 16 15 30 25 25
2,079 2,421 2,738 3,248 4,166 5,331 5,799 7,039 8,285 8,429 8,190 8,393 8,662
Total Assets 4,209 4,827 4,950 5,733 6,994 8,427 8,309 10,193 11,764 12,595 13,289 14,668 15,092

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
16 352 931 804 648 854 482 345 657 1,648 1,324 1,392
-950 -387 -404 -318 -558 -566 -712 -950 -1,001 -1,003 -883 -774
849 70 -436 -361 195 -98 199 699 543 -468 -739 -445
Net Cash Flow -85 36 91 125 285 190 -31 93 199 177 -297 174

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 13% 14% 15% 14% 18% 15% 16% 19% 21% 15% 15% 14%
Debtor Days 171 163 140 113 119 131 140 120 97 94 81 83
Inventory Turnover 1.33 1.22 1.26 1.62 2.04 2.12 1.80 1.71 1.48 1.52 1.65 1.77

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
46.54 46.54 46.54 46.54 46.58 46.58 46.59 46.62 46.62 46.63 46.63 46.63
30.61 30.90 32.27 32.62 31.04 31.37 30.16 28.51 23.40 25.79 26.48 25.84
6.94 7.29 6.93 6.93 7.68 7.43 7.04 6.75 5.53 4.46 9.43 9.16
15.91 15.28 14.26 13.90 14.71 14.62 16.21 18.12 24.44 23.13 17.46 18.38

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