GlaxoSmithKline Pharmaceuticals
GLAXO NSE
GlaxoSmithKline Pharmaceuticals
HealthcareNSE: GLAXO BSE: 500660 Pharmaceuticals
Key Fundamentals
MidcapPharmaceuticalsHealthcareMarket Cap
₹47,745 Cr
Volatility
Moderate
P/E Ratio
44.86
EBITDA
₹1,455 Cr
Return on Equity
45.69%
Debt to Equity
0.01
Book Value
₹133.85
EPS
₹45.47
52W High
₹3,120.7
52W Low
₹2,088.1
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
3- Company is almost debt free.
- Company has a good return on equity (ROE) track record: 3 Years ROE 43.5%
- Company has been maintaining a healthy dividend payout of 94.6%
Weaknesses
2- Stock is trading at 21.1 times its book value
- The company has delivered a poor sales growth of 5.49% over past five years.
Growth Rate
Revenue Growth
1.85% lower than
3Y
Net Income Growth
11.69% lower than
3Y
Cash Flow Change
-29.97% lower than
3Y
ROE
-3.89% lower than
3Y
ROCE
-3.3% lower than
3Y
EBITDA Margin (Avg.)
7.95% lower than
3Y
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 2d agoAI opinion · based on fundamentals
Risk medium
GlaxoSmithKline Pharmaceuticals Ltd is a debt-free MNC pharma subsidiary with a market cap of ₹47,745 Cr, trading at a PE of 45.1x and 21.2x book value. The company delivers a strong ROE of 46% (last year) and maintains a 94.6% dividend payout, but revenue growth has been subdued at 5% CAGR over five years with single-digit TTM sales growth of 6%.
Bull Case 7
- Company is virtually debt-free, providing strong balance sheet resilience and financial flexibility in an uncertain macro environment
- Exceptional return on equity track record with 3-year ROE of 43% and last year ROE of 46%, indicating highly efficient capital deployment
- Healthy dividend payout ratio of 94.6% with a current dividend yield of 2.01%, offering meaningful income to shareholders
- Compounded profit growth of 18% over 3 years and 15% over 5 years significantly outpaces revenue growth, reflecting improving margins and operating leverage
- 10-year compounded profit growth of 10% demonstrates consistent long-term earnings expansion well above the 3% sales CAGR over the same period
- TTM profit growth of 11% continues to outpace TTM sales growth of 6%, suggesting ongoing margin improvement and cost discipline
- MNC parentage (GSK plc) provides access to a global pipeline, established brands, and quality manufacturing standards that support premium positioning
Bear Case 7
- Stock trades at 21.2x price-to-book value, a steep premium that leaves little room for error and prices in significant future growth
- Five-year compounded sales growth of just 5% is well below the broader Indian pharma sector average, pointing to limited top-line momentum
- PE ratio of 45.1x is elevated for a company delivering only 6% TTM revenue growth, implying a rich valuation relative to growth
- Ten-year sales CAGR of only 3% suggests structural constraints on revenue scalability in its current product portfolio
- One-year stock price return of -1% indicates the market has not rewarded the stock recently despite steady earnings growth
- Near-total dividend payout of 94.6% leaves minimal retained earnings for organic reinvestment, R&D, or inorganic growth opportunities
- As a listed subsidiary of a global parent, strategic decisions including product launches, pricing, and capital allocation are largely controlled by GSK plc, limiting independent growth levers
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 2d ago Neutral 1
- MD re-appointment shareholder vote Aug 13
GSK India issued a postal ballot notice seeking shareholder approval for re-appointing Bhushan Akshikar as Managing Director and appointing Karine Natland as Non-Executive Director.
TL;DR: Limited news flow for GSK India with only a routine corporate governance update on board-level appointments. No material headwinds or positive catalysts emerged in this period. Investors should watch for upcoming quarterly results and any pipeline or pricing developments for directional cues.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 762 | 957 | 805 | 930 | 815 | 1,011 | 949 | 974 | 805 | 980 | 1,041 | 995 | 938 |
| Expenses | 618 | 668 | 587 | 673 | 584 | 689 | 658 | 641 | 554 | 644 | 670 | 644 | 643 |
| Operating Profit | 144 | 289 | 218 | 257 | 231 | 322 | 292 | 333 | 251 | 336 | 371 | 351 | 296 |
| OPM % | 19% | 30% | 27% | 28% | 28% | 32% | 31% | 34% | 31% | 34% | 36% | 35% | 31% |
| Other Income | 54 | 28 | -135 | 32 | 36 | 39 | 35 | 41 | 44 | 36 | 50 | 36 | 44 |
| Interest | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 1 | 0 | 1 | 1 | 1 | 1 |
| Depreciation | 16 | 18 | 17 | 18 | 16 | 17 | 19 | 15 | 16 | 17 | 20 | 13 | 16 |
| PBT | 181 | 299 | 65 | 271 | 249 | 344 | 308 | 359 | 279 | 354 | 400 | 373 | 322 |
| Tax % | 27% | 27% | 30% | 28% | 27% | 27% | 25% | 27% | 27% | 27% | 26% | 26% | 26% |
| Net Profit | 132 | 218 | 46 | 194 | 182 | 252 | 230 | 263 | 205 | 257 | 296 | 278 | 237 |
| EPS in Rs | 7.81 | 12.84 | 2.7 | 11.48 | 10.76 | 14.91 | 13.57 | 15.52 | 12.1 | 15.2 | 17.45 | 16.4 | 14 |
Profit & Loss
| Particulars | Mar 2015 15m | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,305 | 2,838 | 2,908 | 2,871 | 3,128 | 3,224 | 2,926 | 3,278 | 3,252 | 3,454 | 3,749 | 3,822 | 3,955 |
| Expenses | 2,672 | 2,360 | 2,489 | 2,363 | 2,527 | 2,567 | 2,327 | 2,516 | 2,447 | 2,545 | 2,570 | 2,512 | 2,601 |
| Operating Profit | 633 | 478 | 420 | 508 | 601 | 657 | 598 | 762 | 804 | 909 | 1,179 | 1,309 | 1,354 |
| OPM % | 19% | 17% | 14% | 18% | 19% | 20% | 20% | 23% | 25% | 26% | 31% | 34% | 34% |
| Other Income | 149 | 125 | 119 | 70 | 131 | -262 | 9 | 1,401 | 103 | -21 | 149 | 166 | 166 |
| Interest | 0 | 0 | 0 | 0 | 1 | 6 | 4 | 2 | 2 | 2 | 1 | 3 | 3 |
| Depreciation | 25 | 25 | 27 | 38 | 49 | 83 | 79 | 68 | 66 | 70 | 67 | 66 | 67 |
| PBT | 756 | 578 | 511 | 540 | 683 | 306 | 525 | 2,093 | 839 | 816 | 1,260 | 1,406 | 1,449 |
| Tax % | 37% | 35% | 34% | 35% | 35% | 70% | 32% | 19% | 27% | 28% | 26% | 26% | — |
| Net Profit | 476 | 376 | 337 | 351 | 445 | 93 | 358 | 1,695 | 611 | 590 | 928 | 1,036 | 1,068 |
| EPS in Rs | 28.12 | 22.2 | 19.88 | 20.7 | 26.29 | 5.5 | 21.14 | 100 | 36.05 | 34.83 | 54.75 | 61.15 | 63.05 |
| Div. Payout % | 111% | 113% | 75% | 85% | 76% | 727% | 142% | 90% | 89% | 92% | 99% | 93% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 85 | 85 | 85 | 85 | 169 | 169 | 169 | 169 | 169 | 169 | 169 | 169 |
| Reserves | 1,744 | 2,099 | 1,922 | 1,973 | 1,970 | 1,651 | 1,309 | 2,494 | 1,572 | 1,608 | 1,782 | 2,098 |
| Borrowings | 3 | 2 | 2 | 1 | 1 | 0 | 35 | 20 | 16 | 19 | 10 | 33 |
| Other Liabilities | 1,384 | 869 | 995 | 1,889 | 1,771 | 1,315 | 1,602 | 1,950 | 1,570 | 1,760 | 2,147 | 2,023 |
| Total Liabilities | 3,216 | 3,055 | 3,004 | 3,947 | 3,911 | 3,136 | 3,115 | 4,633 | 3,327 | 3,557 | 4,108 | 4,324 |
| Fixed Assets | 123 | 204 | 258 | 325 | 432 | 758 | 387 | 331 | 330 | 321 | 284 | 281 |
| CWIP | 115 | 268 | 605 | 923 | 1,003 | 120 | 13 | 30 | 20 | 14 | 14 | 33 |
| Investments | 0 | 6 | 0 | 0 | 0 | 0 | 0 | 366 | 518 | 813 | 1,118 | 1,392 |
| Other Assets | 2,977 | 2,577 | 2,140 | 2,700 | 2,477 | 2,257 | 2,715 | 3,907 | 2,458 | 2,408 | 2,692 | 2,618 |
| Total Assets | 3,216 | 3,055 | 3,004 | 3,947 | 3,911 | 3,136 | 3,115 | 4,633 | 3,327 | 3,557 | 4,108 | 4,324 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 338 | 139 | 234 | 473 | 409 | 490 | 578 | 811 | 484 | 582 | 1,290 | 903 |
| Investing | 180 | 499 | 301 | -104 | -153 | -57 | 418 | -406 | 808 | 9 | -46 | 397 |
| Financing | -497 | -638 | -511 | -307 | -358 | -428 | -696 | -524 | -1,543 | -562 | -769 | -737 |
| Net Cash Flow | 21 | 0 | 24 | 62 | -102 | 6 | 300 | -119 | -251 | 29 | 475 | 563 |
| Free Cash Flow | 175 | -69 | -24 | 639 | 166 | 336 | 536 | 2,371 | 451 | 573 | 1,273 | 870 |
| CFO/OP | 93 | 72 | 94 | 133 | 101 | 103 | 121 | 122 | 93 | 92 | 116 | 93 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 11 | 16 | 21 | 19 | 14 | 11 | 27 | 23 | 22 | 23 | 28 | 26 |
| Inventory Days | 91 | 156 | 111 | 147 | 131 | 135 | 159 | 144 | 131 | 144 | 126 | 124 |
| Days Payable | 74 | 97 | 73 | 149 | 109 | 100 | 135 | 156 | 122 | 171 | 186 | 154 |
| Cash Conversion Cycle | 27 | 75 | 60 | 17 | 36 | 46 | 50 | 11 | 31 | -4 | -31 | -4 |
| Working Capital Days | -48 | 26 | 7 | -90 | -72 | -38 | -39 | -94 | -57 | -64 | -99 | -91 |
| ROCE % | 42% | 29% | 22% | 26% | 31% | 33% | 38% | 37% | 36% | 51% | 63% | 61% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view GlaxoSmithKline Pharmaceuticals insights
66 extracted metrics + investor summaries across FY13–FY27.
Documents
1
Clarification sought from GlaxoSmithKline Pharmaceuticals Ltd
26 Aug - Exchange has sought clarification from GlaxoSmithKline Pharmaceuticals Ltd on August 26, 2026, with reference to Movement in Volume. 26 Aug - Exchange has sought clarification from GlaxoSmithKline Pharmaceuticals Ltd on August 26, 2026, with reference to Movement in Volume.
3
Board Meeting Intimation for Audited Financial Results (Standalone & Consolidated) For The Year Ended 31St March 2026 And Dividend If Any
22 Apr - Board meets 13 May 2026 to consider audited FY26 results and dividend recommendation. 22 Apr - Board meets 13 May 2026 to consider audited FY26 results and dividend recommendation.
4
Announcement under Regulation 30 (LODR)-Newspaper Publication
22 Apr - Publication of special window for share transfer and Saksham Niveshak Campaign 22 Apr - Publication of special window for share transfer and Saksham Niveshak Campaign
5
Board Meeting Intimation for Audited Financial Results (Standalone & Consolidated) For The Year Ended 31St March 2026 And Dividend If Any
14h - Board meets 13 May 2026 to consider audited FY26 results and dividend recommendation. 14h - Board meets 13 May 2026 to consider audited FY26 results and dividend recommendation.
Frequently Asked Questions about GlaxoSmithKline Pharmaceuticals
What does Glaxosmithkline Pharmaceuticals Ltd do?
GlaxoSmithKline Pharmaceuticals research, manufacture and make available a broad range of medicines and vaccines that benefit people.(Source : Company Web-site)
Where is Glaxosmithkline Pharmaceuticals Ltd (GLAXO) listed?
Glaxosmithkline Pharmaceuticals Ltd trades as GLAXO on the NSE and under code 500660 on the BSE.
Which sector does Glaxosmithkline Pharmaceuticals Ltd belong to?
Glaxosmithkline Pharmaceuticals Ltd is classified under the Healthcare sector, in the Pharmaceuticals industry.
What is the market capitalisation of Glaxosmithkline Pharmaceuticals Ltd?
Glaxosmithkline Pharmaceuticals Ltd has a market capitalisation of ₹47,745 Cr, which places it in the Large Cap band.
What is the PE ratio of Glaxosmithkline Pharmaceuticals Ltd?
Glaxosmithkline Pharmaceuticals Ltd trades at a PE ratio of 44.86, on earnings per share of ₹45.47, against a book value of ₹133.85 per share.
What is the 52-week high and low of Glaxosmithkline Pharmaceuticals Ltd?
Over the last 52 weeks Glaxosmithkline Pharmaceuticals Ltd has traded between ₹2,088.1 and ₹3,120.7.
Does Glaxosmithkline Pharmaceuticals Ltd pay dividends?
Glaxosmithkline Pharmaceuticals Ltd has a dividend yield of 2.01%.
What is the Return on Equity (ROE) of Glaxosmithkline Pharmaceuticals Ltd?
Glaxosmithkline Pharmaceuticals Ltd reported a return on equity of 45.69%. Its debt-to-equity ratio is 0.01.
Company Information
GlaxoSmithKline Pharmaceuticals research, manufacture and make available a broad range of medicines and vaccines that benefit people.(Source : Company Web-site)
Website gsk-india.com
CEO Mr. Bhushan Akshikar
Employees 3,113
Listed 2000-12-15
Face Value ₹ 10
Issued Size 16,94,06,034
For AI agents and developers
Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/GLAXO.md for Glaxosmithkline Pharmaceuticals Ltd: company profile, latest price, key fundamentals, the Tapetide Score, growth rates, quarterly and annual financial statements, shareholding pattern, technical indicators, analyst ratings and exchange filings.
Append .md to any Tapetide URL for the
same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live,
structured queries instead of documents, use our MCP server.