Fundamental Analysis of Glaxosmithkline Pharmaceuticals Ltd

About the Company - Glaxosmithkline Pharmaceuticals Ltd

GlaxoSmithKline Pharmaceuticals Ltd. is a Public Limited Listed company incorporated on 13/11/1924 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L24239MH1924PLC001151 and registration number is 001151. Currently Company is involved in the business activities of Manufacture of allopathic pharmaceutical preparations. Company’s Total Operating Revenue is Rs. 3217.51 Cr. and Equity Capital is Rs. 169.41 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Pharmaceuticals	GSK House, Dr. Annie Besant Road, Mumbai Maharashtra 400030	in.investorquery@gsk.com http://www.gsk-india.com

Management
Name	Position Held
Ms. R S Karnad	Chairperson
Mr. B Akshikar	Managing Director
Mr. J Chandy	WholeTime Director & CFO
Mr. S Williams	Non Executive Director
Mr. M Anand	Independent Director
Dr.(Ms.) S Maheshwari	Independent Director
Mr. A N Roy	Independent Director
Mr. D Sundaram	Independent Director
Mr. P V Bhide	Independent Director

Basic Stock Data of Glaxosmithkline Pharmaceuticals Ltd

Last Updated: July 6, 2024, 12:08 pm

Market Cap	43,009 Cr.
Current Price	2,539
High / Low	2,760/1,376
Stock P/E	65.5
Book Value	105
Dividend Yield	1.26 %
ROCE	51.3 %
ROE	37.3 %
Face Value	10.0
PEG Ratio	1.38

Competitors of Glaxosmithkline Pharmaceuticals Ltd

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Zota Health Care Ltd	1,576 Cr.	594	645/372		34.8	0.17 %	7.32 %	16.8 %	10.0
Bliss GVS Pharma Ltd	1,191 Cr.	114	150/75.6	12.6	92.4	0.44 %	14.4 %	10.2 %	1.00
J B Chemicals & Pharmaceuticals Ltd	27,047 Cr.	1,743	1,940/1,139	48.9	188	0.51 %	25.1 %	20.4 %	1.00
Ortin Laboratories Ltd	16.7 Cr.	20.5	26.4/16.2		3.47	0.00 %	60.2 %	118 %	10.0
Alkem Laboratories Ltd	60,542 Cr.	5,064	5,581/3,440	32.0	862	0.79 %	19.6 %	19.5 %	2.00
Industry Average	16,387.61 Cr	1,277.50		48.57	210.00	0.34%	16.75%	16.20%	6.44

Glaxosmithkline Pharmaceuticals Ltd Quarterly Results

Month	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
Sales	879	792	744	718	934	816	810	745	917	802	787	762	957
Expenses	674	611	588	586	678	618	634	596	660	574	618	618	668
Operating Profit	205	181	157	133	256	198	175	149	257	229	170	144	289
OPM %	23%	23%	21%	18%	27%	24%	22%	20%	28%	29%	22%	19%	30%
Other Income	-55	42	-79	46	30	4	1,322	31	22	12	38	54	28
Interest	1	1	1	1	0	1	0	1	0	0	1	0	0
Depreciation	22	18	18	18	17	18	15	16	16	16	17	16	18
Profit before tax	127	204	60	160	268	184	1,482	163	262	224	190	181	299
Tax %	40%	23%	76%	24%	24%	18%	18%	27%	26%	27%	30%	27%	27%
Net Profit	76	157	14	121	204	150	1,219	119	193	165	133	132	218
EPS in Rs	4.51	9.24	0.85	7.15	12.06	8.88	71.96	7.04	11.42	9.71	7.88	7.81	12.84

Glaxosmithkline Pharmaceuticals Ltd Quarterly Chart

Glaxosmithkline Pharmaceuticals Ltd Profit & Loss

Month	Dec 2011	Dec 2012	Dec 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Sales	2,414	2,647	2,563	3,305	2,838	2,908	2,871	3,128	3,224	2,926	3,278	3,252	3,308
Expenses	1,612	1,824	2,034	2,672	2,360	2,489	2,363	2,527	2,567	2,327	2,516	2,447	2,477
Operating Profit	802	822	528	633	478	420	508	601	657	598	762	804	832
OPM %	33%	31%	21%	19%	17%	14%	18%	19%	20%	20%	23%	25%	25%
Other Income	-177	30	203	149	125	119	70	131	-262	9	1,401	103	132
Interest	0	0	0	0	0	0	0	1	6	4	2	2	1
Depreciation	20	18	20	25	25	27	38	49	83	79	68	66	68
Profit before tax	605	834	711	756	578	511	540	683	306	525	2,093	839	894
Tax %	29%	33%	32%	37%	35%	34%	35%	35%	70%	32%	19%	27%
Net Profit	429	562	482	476	376	337	351	445	93	358	1,695	611	648
EPS in Rs	25.30	33.17	28.43	28.12	22.20	19.88	20.70	26.29	5.50	21.14	100.04	36.05	38.24
Dividend Payout %	89%	75%	88%	111%	113%	75%	85%	76%	727%	142%	90%	89%

Glaxosmithkline Pharmaceuticals Ltd Profit & Loss Yearly Chart

Glaxosmithkline Pharmaceuticals Ltd Growth

Compounded Sales Growth
10 Years:	3%
5 Years:	2%
3 Years:	6%
TTM:	6%

Compounded Profit Growth
10 Years:	4%
5 Years:	9%
3 Years:	11%
TTM:	11%

Stock Price CAGR
10 Years:	7%
5 Years:	17%
3 Years:	20%
1 Year:	84%

Return on Equity
10 Years:	28%
5 Years:	37%
3 Years:	49%
Last Year:	37%

Last Updated: June 29, 2024, 2:24 am

Glaxosmithkline Pharmaceuticals Ltd Balance Sheet

Month	Dec 2011	Dec 2012	Dec 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	85	85	85	85	85	85	85	169	169	169	169	169	169
Reserves	1,851	1,922	1,905	1,744	2,099	1,922	1,973	1,970	1,651	1,309	2,494	1,572	1,370
Borrowings	5	5	4	3	2	2	1	1	0	35	20	16	21
Other Liabilities	1,089	1,077	1,136	1,384	869	995	1,889	1,771	1,312	1,602	1,950	1,570	1,709
Total Liabilities	3,030	3,088	3,130	3,216	3,055	3,004	3,947	3,911	3,133	3,115	4,633	3,327	3,270
Fixed Assets	99	89	100	123	204	258	325	432	758	387	331	330	318
CWIP	16	44	62	115	268	605	923	1,003	120	13	30	20	26
Investments	112	55	10	0	6	0	0	0	0	0	366	518	514
Other Assets	2,802	2,900	2,958	2,977	2,577	2,140	2,700	2,477	2,255	2,715	3,907	2,458	2,412
Total Assets	3,030	3,088	3,130	3,216	3,055	3,004	3,947	3,911	3,133	3,115	4,633	3,327	3,270

Glaxosmithkline Pharmaceuticals Ltd Reserves and Borrowings Chart

Glaxosmithkline Pharmaceuticals Ltd Cash Flow

Month	Dec 2011	Dec 2012	Dec 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Cash from Operating Activity	335	314	281	338	139	234	473	409	490	578	811	484
Cash from Investing Activity	358	-110	189	180	499	301	-104	-153	-57	418	-406	808
Cash from Financing Activity	-395	-441	-494	-497	-638	-511	-307	-358	-428	-696	-524	-1,543
Net Cash Flow	299	-237	-24	21	-0	24	62	-102	6	300	-119	-251

Glaxosmithkline Pharmaceuticals Ltd Financial Efficiency Indicators

Month	Dec 2011	Dec 2012	Dec 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	13	16	14	11	16	21	19	14	11	27	23	22
Inventory Days	132	94	109	91	156	111	147	131	135	159	144	131
Days Payable	80	78	90	74	97	73	149	109	100	135	156	122
Cash Conversion Cycle	66	32	33	27	75	60	17	36	46	50	11	31
Working Capital Days	-49	-42	-45	-48	26	7	-90	-72	-38	-37	-92	-55
ROCE %	48%	50%	34%	42%	29%	22%	26%	31%	33%	38%	37%	36%

Glaxosmithkline Pharmaceuticals Ltd Financial Efficiency Indicators Chart

Glaxosmithkline Pharmaceuticals Ltd Share Holding Pattern

Month	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoters	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%
FIIs	1.61%	1.72%	2.04%	2.18%	2.16%	2.17%	2.28%	2.28%	2.41%	2.50%	2.93%	3.48%
DIIs	10.93%	10.83%	10.73%	10.73%	10.65%	10.54%	10.29%	10.31%	10.25%	10.01%	8.64%	7.90%
Government	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.01%	0.00%
Public	12.46%	12.45%	12.23%	12.09%	12.19%	12.29%	12.43%	12.43%	12.35%	12.48%	13.42%	13.62%
No. of Shareholders	1,20,476	1,21,445	1,23,480	1,10,141	1,12,964	1,16,651	1,20,127	1,20,415	1,19,032	1,15,268	1,14,663	1,18,994

Glaxosmithkline Pharmaceuticals Ltd Shareholding Pattern Chart

No. of Glaxosmithkline Pharmaceuticals Ltd Shareholders

Glaxosmithkline Pharmaceuticals Ltd Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Aditya Birla Sun Life ELSS Tax Saver Fund	1,218,872	1.42	201.98	355,184	2024-07-05	243.17%
Nippon India Pharma Fund	853,907	2.28	141.5	355,184	2024-07-05	140.41%
ICICI Prudential Large & Mid Cap Fund	839,179	1.44	139.06	355,184	2024-07-05	136.27%
SBI Magnum Midcap Fund	806,895	0.93	133.71	355,184	2024-07-05	127.18%
Aditya Birla Sun Life MNC Fund - Div	753,600	3.58	124.88	355,184	2024-07-05	112.17%
Aditya Birla Sun Life MNC Fund - Gr	753,600	3.58	124.88	355,184	2024-07-05	112.17%
ICICI Prudential Multi Asset Fund	753,257	0.45	124.82	355,184	2024-07-05	112.08%
Nippon India Growth Fund	559,000	0.43	92.63	355,184	2024-07-05	57.38%
ICICI Prudential Value Discovery Fund	355,184	0.17	58.86	355,184	2024-07-05	0%
ICICI Prudential Pharma Healthcare & Diagnostics (P.H.D) Fund	293,814	1.48	48.69	355,184	2024-07-05	-17.28%

Glaxosmithkline Pharmaceuticals Ltd ROCE Trend

Glaxosmithkline Pharmaceuticals Ltd EPS Trend

Glaxosmithkline Pharmaceuticals Ltd Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	41.14	36.08	99.29	31.35	5.50
Diluted EPS (Rs.)	34.83	36.05	100.04	21.14	5.50
Cash EPS (Rs.)	38.94	39.93	104.06	25.78	10.38
Book Value[Excl.RevalReserv]/Share (Rs.)	104.93	102.79	157.19	87.26	107.47
Book Value[Incl.RevalReserv]/Share (Rs.)	104.93	102.79	157.19	87.26	107.47
Revenue From Operations / Share (Rs.)	203.87	191.95	193.50	172.70	190.33
PBDIT / Share (Rs.)	60.87	53.42	49.45	41.84	43.46
PBIT / Share (Rs.)	56.76	49.54	45.42	37.20	38.58
PBT / Share (Rs.)	48.18	49.37	45.99	26.80	18.05
Net Profit / Share (Rs.)	34.82	36.05	100.04	21.14	5.50
NP After MI And SOA / Share (Rs.)	34.82	36.41	100.04	21.14	5.50
PBDIT Margin (%)	29.86	27.82	25.55	24.22	22.83
PBIT Margin (%)	27.84	25.80	23.47	21.53	20.26
PBT Margin (%)	23.63	25.72	23.76	15.51	9.48
Net Profit Margin (%)	17.08	18.78	51.69	12.24	2.89
NP After MI And SOA Margin (%)	17.08	18.96	51.69	12.24	2.89
Return on Networth / Equity (%)	33.18	35.41	63.64	24.22	5.11
Return on Capital Employeed (%)	47.33	41.95	26.21	35.80	30.95
Return On Assets (%)	16.58	18.53	36.57	11.49	2.97
Asset Turnover Ratio (%)	1.00	0.80	0.83	0.93	0.91
Current Ratio (X)	1.98	1.88	2.18	1.63	1.74
Quick Ratio (X)	1.63	1.53	1.87	1.22	1.26
Inventory Turnover Ratio (X)	1.11	0.81	1.04	0.89	0.97
Dividend Payout Ratio (NP) (%)	0.00	247.21	29.98	189.20	363.51
Dividend Payout Ratio (CP) (%)	0.00	223.39	28.82	155.15	192.63
Earning Retention Ratio (%)	0.00	-147.21	70.02	-89.20	-263.51
Cash Earning Retention Ratio (%)	0.00	-123.39	71.18	-55.15	-92.63
Interest Coverage Ratio (X)	572.93	499.36	419.65	200.69	116.21
Interest Coverage Ratio (Post Tax) (X)	408.54	336.84	185.96	131.22	69.61
Enterprise Value (Cr.)	31854.84	21275.97	25686.86	23243.30	20012.10
EV / Net Operating Revenue (X)	9.22	6.54	7.84	7.94	6.21
EV / EBITDA (X)	30.89	23.51	30.67	32.80	27.18
MarketCap / Net Operating Revenue (X)	9.53	6.90	8.59	8.34	6.54
Retention Ratios (%)	0.00	-147.21	70.01	-89.20	-263.51
Price / BV (X)	18.52	12.88	10.58	16.51	11.59
Price / Net Operating Revenue (X)	9.53	6.90	8.59	8.34	6.54
EarningsYield	0.01	0.02	0.06	0.01	0.00

Glaxosmithkline Pharmaceuticals Ltd Profitability Ratios (%)

Glaxosmithkline Pharmaceuticals Ltd Liquidity Ratios

Glaxosmithkline Pharmaceuticals Ltd Liquidity Ratios (%)

Glaxosmithkline Pharmaceuticals Ltd Interest Coverage Ratios (%)

Glaxosmithkline Pharmaceuticals Ltd Valuation Ratios

Fair Value

Fair Value: 2,597.63

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 2.31% compared to the current price 2539

Intrinsic Value: 3,828.32

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 50.78% compared to the current price ₹2539

Last 5 Year EPS CAGR: 47.38%

*Investments are subject to market risks

Strength and Weakness of Glaxosmithkline Pharmaceuticals Ltd Stock

Strength	Weakness
The stock has a high average ROCE of 35.50%, which is a positive sign. The stock has a low average Working Capital Days of -44.58, which is a positive sign. The company has higher reserves (1,829.38 cr) compared to borrowings (8.85 cr), indicating strong financial stability. The company has shown consistent growth in sales (2.46 cr) and profit (598.77 cr) over the years.	The stock has a high average Cash Conversion Cycle of 40.33, which may not be favorable.

FAQ

What is the latest fair value of Glaxosmithkline Pharmaceuticals Ltd?

The latest fair value of Glaxosmithkline Pharmaceuticals Ltd is ₹2597.63.

What is the Market Cap of Glaxosmithkline Pharmaceuticals Ltd?

The Market Cap of Glaxosmithkline Pharmaceuticals Ltd is 43,009 Cr..

What is the current Stock Price of Glaxosmithkline Pharmaceuticals Ltd as on 06 July 2024?

The current stock price of Glaxosmithkline Pharmaceuticals Ltd as on 06 July 2024 is 2,539.

What is the High / Low of Glaxosmithkline Pharmaceuticals Ltd stocks in FY 2024?

In FY 2024, the High / Low of Glaxosmithkline Pharmaceuticals Ltd stocks is 2,760/1,376.

What is the Stock P/E of Glaxosmithkline Pharmaceuticals Ltd?

The Stock P/E of Glaxosmithkline Pharmaceuticals Ltd is 65.5.

What is the Book Value of Glaxosmithkline Pharmaceuticals Ltd?

The Book Value of Glaxosmithkline Pharmaceuticals Ltd is 105.

What is the Dividend Yield of Glaxosmithkline Pharmaceuticals Ltd?

The Dividend Yield of Glaxosmithkline Pharmaceuticals Ltd is 1.26 %.

What is the ROCE of Glaxosmithkline Pharmaceuticals Ltd?

The ROCE of Glaxosmithkline Pharmaceuticals Ltd is 51.3 %.

What is the ROE of Glaxosmithkline Pharmaceuticals Ltd?

The ROE of Glaxosmithkline Pharmaceuticals Ltd is 37.3 %.

What is the Face Value of Glaxosmithkline Pharmaceuticals Ltd?

The Face Value of Glaxosmithkline Pharmaceuticals Ltd is 10.0.