Glenmark Pharmaceuticals Ltd

₹ 387 1.24%
02 Feb 2:23 p.m.
About

Glenmark Pharmaceuticals Ltd is a global research-led pharmaceutical company with presence across generics, Specialty and OTC business with operations in over 80 countries.[1]

Key Points

Product Offerings
The company offers a wide range of pharma products/ drugs in the form of oral solids, liquids, topical products, respiratory MDI/DPI and complex injectables & biologics. It is primarily focused on therapy areas of dermatology, respiratory and oncology.[1]

  • Market Cap 10,933 Cr.
  • Current Price 387
  • High / Low 513 / 348
  • Stock P/E 11.4
  • Book Value 339
  • Dividend Yield 0.65 %
  • ROCE 16.0 %
  • ROE 13.6 %
  • Face Value 1.00

Pros

  • Stock is trading at 1.14 times its book value

Cons

  • The company has delivered a poor sales growth of 6.27% over past five years.
  • Company has a low return on equity of 13.6% over last 3 years.
  • Company might be capitalizing the interest cost
  • Dividend payout has been low at 7.95% of profits over last 3 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

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
2,815 2,736 2,767 2,345 2,952 2,787 2,860 2,965 3,147 3,173 3,019 2,777 3,375
2,365 2,295 2,302 1,867 2,400 2,257 2,336 2,391 2,557 2,480 2,556 2,346 2,754
Operating Profit 450 440 466 478 553 530 523 574 590 693 463 432 622
OPM % 16% 16% 17% 20% 19% 19% 18% 19% 19% 22% 15% 16% 18%
81 33 77 86 -29 29 8 59 -13 -164 25 183 97
Interest 90 96 98 94 81 95 83 76 69 67 87 60 83
Depreciation 94 106 126 113 104 115 111 113 123 119 132 147 156
Profit before tax 347 271 318 358 339 348 338 444 385 343 270 408 480
Tax % 26% 30% 31% 29% 31% 29% 31% 31% 29% 30% 36% 48% 42%
Net Profit 256 191 220 254 234 248 234 307 275 240 173 211 279
EPS in Rs 9.06 6.76 7.81 9.00 8.29 8.79 8.29 10.86 9.13 7.86 5.51 6.82 9.23
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
2,949 4,021 5,012 6,005 6,563 7,562 9,079 9,074 9,865 10,641 10,944 12,305 12,345
2,357 3,306 3,997 4,914 5,348 6,125 7,043 7,457 8,280 8,942 8,860 9,978 10,135
Operating Profit 592 714 1,015 1,091 1,214 1,437 2,037 1,617 1,586 1,699 2,084 2,327 2,210
OPM % 20% 18% 20% 18% 18% 19% 22% 18% 16% 16% 19% 19% 18%
145 18 11 11 -180 20 -44 89 375 191 95 -101 141
Interest 160 147 160 189 190 179 237 286 335 377 353 298 297
Depreciation 95 98 127 217 300 234 264 302 326 417 444 487 553
Profit before tax 482 488 739 697 544 1,044 1,491 1,119 1,301 1,096 1,382 1,441 1,501
Tax % 5% 5% 15% 22% 61% 29% 26% 28% 29% 29% 30% 31%
Net Profit 458 464 628 546 209 743 1,109 804 925 776 970 994 902
EPS in Rs 16.77 17.02 22.89 19.99 7.72 26.33 39.29 28.49 32.78 27.50 34.38 33.37 29.42
Dividend Payout % 2% 3% 0% 0% 26% 8% 5% 7% 6% 9% 7% 7%
Compounded Sales Growth
10 Years: 12%
5 Years: 6%
3 Years: 8%
TTM: 5%
Compounded Profit Growth
10 Years: 9%
5 Years: -1%
3 Years: 10%
TTM: -8%
Stock Price CAGR
10 Years: -3%
5 Years: -8%
3 Years: 8%
1 Year: -24%
Return on Equity
10 Years: 17%
5 Years: 14%
3 Years: 14%
Last Year: 14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
27 27 27 27 27 28 28 28 28 28 28 28 28
Reserves 2,010 2,375 2,736 2,956 1,756 3,601 4,464 5,135 5,577 6,042 7,036 9,058 9,545
2,108 2,244 2,765 3,267 3,800 3,988 4,724 4,639 4,449 4,869 4,986 3,962 4,240
804 1,087 1,466 2,176 2,726 2,575 2,548 2,793 3,235 3,729 3,524 4,003 4,218
Total Liabilities 4,950 5,733 6,994 8,427 8,309 10,193 11,764 12,595 13,289 14,668 15,575 17,052 18,031
2,034 2,223 2,822 3,091 2,015 2,594 2,755 3,030 3,670 5,029 5,129 5,887 6,146
CWIP 178 263 6 5 477 543 708 1,122 1,399 1,222 1,382 1,010 1,176
Investments 0 0 0 0 17 17 16 15 30 25 25 50 45
2,738 3,248 4,166 5,331 5,799 7,039 8,285 8,429 8,190 8,393 9,040 10,105 10,665
Total Assets 4,950 5,733 6,994 8,427 8,309 10,193 11,764 12,595 13,289 14,668 15,575 17,052 18,031

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
931 804 648 854 482 345 657 1,648 1,324 1,392 1,131 1,109
-404 -318 -558 -566 -712 -950 -1,001 -1,003 -883 -774 -662 -316
-436 -361 195 -98 199 699 543 -468 -739 -445 -442 -520
Net Cash Flow 91 125 285 190 -31 93 199 177 -297 174 28 272

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 140 113 119 131 140 120 97 94 81 83 86 92
Inventory Days 310 223 194 191 247 249 299 244 244 211 230 212
Days Payable 252 220 239 279 379 308 243 225 241 210 226 194
Cash Conversion Cycle 197 116 75 43 8 61 152 113 85 84 90 110
Working Capital Days 202 150 94 83 66 89 133 111 76 69 96 100
ROCE % 15% 14% 18% 15% 16% 19% 21% 15% 15% 14% 15% 16%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
46.62 46.62 46.63 46.63 46.63 46.63 46.65 46.65 46.65 46.65 46.65 46.65
28.51 23.40 25.79 26.48 25.84 26.82 25.93 24.18 24.12 24.23 23.14 23.19
6.75 5.53 4.46 9.43 9.16 9.73 9.03 10.86 10.96 10.50 10.90 10.69
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.04 0.04
18.12 24.44 23.13 17.46 18.38 16.82 18.40 18.31 18.27 18.63 19.27 19.45

* 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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