Glenmark Pharmaceuticals logo

Glenmark Pharmaceuticals

GLENMARK NSE

Key Fundamentals

MidcapPharmaceuticalsHealthcare
Market Cap
₹67,573 Cr
Volatility
Moderate
P/E Ratio
37.97
EBITDA
₹5,033 Cr
Return on Equity
12.96%
Debt to Equity
0.06
Book Value
₹372.47
EPS
₹0
52W High
₹2,537.6
52W Low
₹1,792.6

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

3
  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 19.4% CAGR over last 5 years

Weaknesses

4
  • The company has delivered a poor sales growth of 9.19% over past five years.
  • Company has a low return on equity of -3.28% over last 3 years.
  • Debtor days have increased from 85.2 to 107 days.
  • Working capital days have increased from 41.2 days to 80.5 days

Growth Rate

Revenue Growth
29.83% higher than 3Y
Net Income Growth
30.07% lower than 3Y
Cash Flow Change
516%
ROE
9.55% higher than 3Y
ROCE
1.76% lower than 3Y
EBITDA Margin (Avg.)
57.22% lower than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk medium

Glenmark Pharmaceuticals trades at a market cap of ₹67,573 Cr with a P/E of 37.9x and P/B of 6.49x. The company has shown a sharp profit recovery with TTM profit growth of 134% and last-year ROE jumping to 24%, but carries a weak 3-year average ROE of -3% and has seen working capital days nearly double from 41.2 to 80.5 days.

Bull Case 7
  • TTM profit growth stands at 134%, signalling a strong earnings recovery trajectory
  • Last-year ROE surged to 24%, a dramatic improvement from the 3-year average of -3%
  • Company is almost debt-free, significantly reducing financial risk and interest burden
  • 5-year compounded profit CAGR of 19% reflects sustained earnings improvement over a longer horizon
  • Stock price CAGR of 44% over 3 years and 36% over 5 years indicates strong market re-rating
  • TTM sales growth of 33% marks a notable acceleration from the 5-year sales CAGR of 9%
  • 10-year ROE of 7% suggests the business has historically been capable of generating reasonable returns on equity
Bear Case 8
  • P/E of 37.9x is elevated for a pharma company with a historically inconsistent earnings record
  • 3-year average ROE of -3% indicates the recent profitability surge follows a prolonged period of poor capital efficiency
  • Debtor days have increased from 85.2 to 107 days, pointing to deteriorating receivables collection and potential revenue quality concerns
  • Working capital days have nearly doubled from 41.2 to 80.5 days, straining cash conversion despite reported profit growth
  • 5-year compounded sales CAGR of only 9% reflects weak top-line momentum relative to the profit expansion
  • P/B ratio of 6.49x is rich, suggesting the stock prices in significant future growth that may not materialise
  • Dividend yield of just 0.21% offers negligible income return to shareholders despite the company being nearly debt-free
  • 5-year ROE averages only 2%, indicating the 24% last-year figure may be an outlier rather than a sustainable trend

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Positives 3
  • FDA-approved nasal spray, $295M market Aug 20

    Glenmark received US FDA approval for Fluticasone Propionate Nasal Spray, bioequivalent to Haleon's Flonase, targeting a $295.2 million US market.

  • Calcium Gluconate launch in US Aug 21

    Glenmark launched Calcium Gluconate Injection USP in multiple strengths in the US, targeting a $69.9 million market and expanding its hospital injectables portfolio.

  • RYALTRIS now in 57 markets Sep 11

    Glenmark launched RYALTRIS Nasal Spray in Brazil after ANVISA approval, bringing the total global approvals to 57 markets for its allergic rhinitis combination therapy.

Neutral 2
  • ₹2.50 dividend, AGM resolutions passed Sep 11

    Shareholders approved FY26 financials and a final dividend of ₹2.50 per share at the 48th AGM on Sep 11, with all resolutions passing with over 95% support.

  • 48th AGM scheduled Sep 11 Aug 15

    Glenmark announced its 48th AGM for Sep 11, 2026 via VC/OAVM, with notice published in Financial Express and Loksatta.

TL;DR: Glenmark is on a solid footing with no visible headwinds in recent news. The company is actively expanding its US generics pipeline with two new launches targeting a combined ~$365 million market, while RYALTRIS continues its global rollout reaching 57 markets. With steady shareholder returns via dividend and no regulatory or operational red flags, the near-term trend appears constructive, particularly driven by US market momentum.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
3,036
3,207
2,507
3,063
3,244
3,434
3,388
3,256
3,264
6,047
3,901
3,771
4,018
Expenses
2,599
2,745
2,715
2,559
2,656
2,832
2,787
2,695
2,684
3,687
3,031
3,008
3,214
Operating Profit
437
462
-209
504
588
602
600
561
581
2,360
870
763
805
OPM %
14%
14%
-8%
16%
18%
18%
18%
17%
18%
39%
22%
20%
20%
Other Income
-32
-205
87
351
31
39
31
-361
-297
-1,184
-140
-184
66
Interest
112
121
134
149
40
48
52
67
58
66
41
43
54
Depreciation
142
141
147
151
118
120
123
125
130
141
154
148
173
PBT
151
-6
-403
555
462
473
456
8
96
967
534
388
643
Tax %
-14%
997%
-18%
319%
26%
25%
24%
45%
51%
37%
24%
22%
25%
Net Profit
173
-62
-331
-1,214
340
354
348
4
47
610
403
301
483
EPS in Rs
5.31
-2.9
-12.45
-43.17
12.06
12.55
12.33
0.16
1.66
21.63
14.29
10.68
17.11
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
6,563
7,562
9,079
9,074
9,865
10,641
10,944
12,305
11,583
11,813
13,322
16,983
17,737
Expenses
5,348
6,125
7,043
7,457
8,280
8,942
8,860
9,978
9,948
10,618
10,970
12,410
12,940
Operating Profit
1,214
1,437
2,037
1,617
1,586
1,699
2,084
2,327
1,635
1,195
2,351
4,572
4,797
OPM %
18%
19%
22%
18%
16%
16%
19%
19%
14%
10%
18%
27%
27%
Other Income
-180
20
-44
89
375
191
95
-101
-10
336
-259
-1,805
-1,443
Interest
190
179
237
286
335
377
353
298
349
516
207
209
204
Depreciation
300
234
264
302
326
417
444
487
569
582
486
573
617
PBT
544
1,044
1,491
1,119
1,301
1,096
1,382
1,441
707
434
1,399
1,985
2,533
Tax %
61%
29%
26%
28%
29%
29%
30%
31%
47%
430%
25%
31%
—
Net Profit
209
743
1,109
804
925
776
970
994
377
-1,434
1,047
1,362
1,798
EPS in Rs
7.72
26.33
39.29
28.49
32.78
27.5
34.38
33.37
10.53
-53.22
37.11
48.26
63.71
Div. Payout %
26%
8%
5%
7%
6%
9%
7%
7%
24%
-5%
7%
10%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
27
28
28
28
28
28
28
28
28
28
28
28
Reserves
1,756
3,601
4,464
5,135
5,577
6,042
7,036
9,058
9,446
7,820
8,821
10,484
Borrowings
3,800
3,988
4,724
4,639
4,449
4,869
4,986
3,962
4,608
1,231
2,473
594
Other Liabilities
2,726
2,575
2,548
2,793
3,235
3,729
3,524
4,003
5,289
5,279
4,669
8,801
Total Liabilities
8,309
10,193
11,764
12,595
13,289
14,668
15,575
17,052
19,371
14,358
15,991
19,907
Fixed Assets
2,015
2,594
2,755
3,030
3,670
5,029
5,129
5,887
5,422
4,210
4,487
5,915
CWIP
477
543
708
1,122
1,399
1,222
1,382
1,010
1,190
662
835
909
Investments
17
17
16
15
30
25
25
50
45
790
56
42
Other Assets
5,799
7,039
8,285
8,429
8,190
8,393
9,040
10,105
12,715
8,697
10,613
13,041
Total Assets
8,309
10,193
11,764
12,595
13,289
14,668
15,575
17,052
19,371
14,358
15,991
19,907
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
482
345
657
1,648
1,324
1,392
1,131
1,109
625
-265
-828
3,445
Investing
-712
-950
-1,001
-1,003
-883
-774
-662
-316
-515
4,387
58
-1,237
Financing
199
699
543
-468
-739
-445
-442
-520
-77
-3,906
787
-2,709
Net Cash Flow
-31
93
199
177
-297
174
28
272
32
215
17
-501
Free Cash Flow
-56
-544
-76
625
712
616
456
320
75
-1,162
-1,576
2,090
CFO/OP
66
57
67
124
111
109
79
72
77
65
-6
92
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
140
120
97
94
81
83
86
92
115
57
92
107
Inventory Days
247
249
299
244
244
211
230
208
203
208
254
264
Days Payable
379
308
243
225
241
210
226
190
172
210
256
288
Cash Conversion Cycle
8
61
152
113
85
84
90
110
147
56
90
83
Working Capital Days
47
51
125
99
64
54
67
65
141
-2
44
81
ROCE %
16%
19%
21%
15%
15%
14%
15%
16%
10%
12%
19%
40%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Others3.21%Govt.0.04%Promot.46.65%Public10.60%DIIs18.60%FIIs20.89%As ofJun 2026

Documents

Frequently Asked Questions about Glenmark Pharmaceuticals

What does Glenmark Pharmaceuticals Ltd do?
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]
Where is Glenmark Pharmaceuticals Ltd (GLENMARK) listed?
Glenmark Pharmaceuticals Ltd trades as GLENMARK on the NSE and under code 532296 on the BSE.
Which sector does Glenmark Pharmaceuticals Ltd belong to?
Glenmark Pharmaceuticals Ltd is classified under the Healthcare sector, in the Pharmaceuticals industry.
What is the market capitalisation of Glenmark Pharmaceuticals Ltd?
Glenmark Pharmaceuticals Ltd has a market capitalisation of ₹67,573 Cr, which places it in the Large Cap band.
What is the PE ratio of Glenmark Pharmaceuticals Ltd?
Glenmark Pharmaceuticals Ltd trades at a PE ratio of 37.97, on earnings per share of ₹0, against a book value of ₹372.47 per share.
What is the 52-week high and low of Glenmark Pharmaceuticals Ltd?
Over the last 52 weeks Glenmark Pharmaceuticals Ltd has traded between ₹1,792.6 and ₹2,537.6.
Does Glenmark Pharmaceuticals Ltd pay dividends?
Glenmark Pharmaceuticals Ltd has a dividend yield of 0.21%.
What is the Return on Equity (ROE) of Glenmark Pharmaceuticals Ltd?
Glenmark Pharmaceuticals Ltd reported a return on equity of 12.96%. Its debt-to-equity ratio is 0.06.

Company Information

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]

Website glenmarkpharma.com
CEO Mr. Glenn Mario Saldanha
Employees 15,800
Listed 2000-02-07
Face Value ₹ 1
Issued Size 28,22,00,809

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