Glenmark Life Sciences Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 12:54 am

Market Cap	12,416 Cr.
Current Price	1,013
High / Low	1,335/638
Stock P/E	29.3
Book Value	207
Dividend Yield	2.22 %
ROCE	28.1 %
ROE	21.1 %
Face Value	2.00
PEG Ratio	-0.80

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for

Competitors of

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Gujarat Themis Biosyn Ltd	3,354 Cr.	308	390/128	63.6	20.5	0.22 %	45.0 %	33.8 %	1.00
Gujarat Terce Laboratories Ltd	62.6 Cr.	84.4	94.9/26.6	24.0	11.9	0.00 %	9.72 %	3.44 %	10.0
Gujarat Inject (Kerala) Ltd	35.9 Cr.	24.5	24.5/8.74	46.6	6.64	0.00 %	2.65 %	2.08 %	10.0
Godavari Drugs Ltd	86.7 Cr.	115	155/87.0	13.0	55.4	0.00 %	14.4 %	15.5 %	10.0
Glenmark Life Sciences Ltd	12,416 Cr.	1,013	1,335/638	29.3	207	2.22 %	28.1 %	21.1 %	2.00
Industry Average	19,016.52 Cr	1,181.31		56.05	186.30	0.32%	16.20%	16.32%	6.27

All Competitor Stocks of

Quarterly Result

Month	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Sales	562	522	514	490	509	541	621	578	595	573	537	589	507
Expenses	394	376	372	343	366	395	415	385	428	400	395	429	373
Operating Profit	167	146	142	147	144	145	206	193	167	173	141	159	134
OPM %	30%	28%	28%	30%	28%	27%	33%	33%	28%	30%	26%	27%	27%
Other Income	2	4	5	9	10	7	3	2	5	2	3	5	9
Interest	7	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	10	10	10	10	10	11	12	13	13	13	15	14	15
Profit before tax	153	140	138	146	144	141	198	182	159	161	130	150	127
Tax %	24%	26%	28%	26%	26%	26%	26%	26%	25%	26%	24%	26%	25%
Net Profit	115	104	99	109	107	105	146	135	119	119	98	111	95
EPS in Rs	9.40	8.46	8.07	8.87	8.72	8.57	11.95	11.05	9.69	9.69	7.99	9.10	7.78

Last Updated: November 6, 2024, 6:39 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: September 23, 2024, 2:22 pm

Month	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	0	886	1,537	1,885	2,123	2,161	2,283	2,293
Expenses	0	638	1,064	1,294	1,506	1,518	1,608	1,653
Operating Profit	-0	248	473	592	617	643	675	641
OPM %	-4%	28%	31%	31%	29%	30%	30%	28%
Other Income	0	-0	11	0	14	28	11	16
Interest	0	1	34	88	28	1	2	2
Depreciation	0	19	29	33	38	42	53	55
Profit before tax	-0	228	421	471	565	629	631	600
Tax %	4,200%	14%	26%	25%	26%	26%	25%
Net Profit	-0	196	313	352	419	467	471	447
EPS in Rs	-430.00	997.86	1,597.37	358.74	34.17	38.11	38.43	36.47
Dividend Payout %	0%	0%	0%	0%	61%	110%	59%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	59.69%	12.46%	19.03%	11.46%	0.86%
Change in YoY Net Profit Growth (%)	0.00%	-47.23%	6.57%	-7.58%	-10.60%

has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 5 years from 2019-2020 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	%
5 Years:	21%
3 Years:	7%
TTM:	-6%

Compounded Profit Growth
10 Years:	%
5 Years:	19%
3 Years:	10%
TTM:	-16%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	19%
1 Year:	57%

Return on Equity
10 Years:	%
5 Years:	31%
3 Years:	24%
Last Year:	21%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 3:30 pm

Month	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	0.01	2	2	2	25	25	25	25
Reserves	-1	86	400	751	2,030	2,114	2,308	2,514
Borrowings	0	0	0	0	3	19	17	16
Other Liabilities	1	1,387	1,324	1,244	414	545	501	530
Total Liabilities	0	1,475	1,726	1,997	2,471	2,702	2,850	3,085
Fixed Assets	0	456	546	573	590	781	805	821
CWIP	0	80	11	14	97	62	106	141
Investments	0	0	0	0	0	0	0	0
Other Assets	0	939	1,169	1,410	1,784	1,860	1,939	2,122
Total Assets	0	1,475	1,726	1,997	2,471	2,702	2,850	3,085

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	-0	10	195	388	598	306	414
Cash from Investing Activity +	0	-9	-51	-69	-122	-147	-116
Cash from Financing Activity +	0	1	-137	-214	-79	-388	-279
Net Cash Flow	0	2	8	106	397	-228	18

Free Cash Flow

Month	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	0.00	248.00	473.00	592.00	614.00	624.00	658.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	44	185	152	120	116	136	122
Inventory Days	162	441	227	214	185	224	251
Days Payable	41	201	111	92	110	158	139
Cash Conversion Cycle	165	424	268	241	190	202	235
Working Capital Days	-2,059	-186	-37	12	150	177	188
ROCE %		529%	186%	97%	42%	30%	28%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoters	82.85%	82.85%	82.85%	82.85%	82.85%	82.85%	82.85%	82.85%	82.85%	82.85%	82.85%	75.00%
FIIs	8.32%	8.12%	7.58%	6.04%	4.45%	3.28%	3.27%	4.39%	4.57%	5.01%	4.81%	7.85%
DIIs	0.47%	0.56%	0.79%	0.79%	0.08%	0.00%	0.58%	0.64%	0.74%	1.41%	1.57%	4.16%
Public	8.36%	8.47%	8.78%	10.31%	12.62%	13.86%	13.30%	12.13%	11.84%	10.73%	10.76%	12.99%
No. of Shareholders	2,53,726	2,38,578	2,33,538	2,32,203	2,25,730	2,22,866	2,08,267	1,98,764	1,85,531	1,56,183	1,49,396	1,43,960

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Old Bridge Focused Equity Fund	168,754	2.54	14.99	28,442	2024-12-18	493.33%
Nippon India Nifty Smallcap 250 Index Fund	28,442	0.15	2.53	28,442	2024-12-18	0%
Navi Aggressive Hybrid Fund	24,100	1.94	2.14	28,442	2024-12-18	-15.27%
Navi Flexi Cap Fund	20,000	0.64	1.78	28,442	2024-12-18	-29.68%
Navi Large & Midcap Fund - Regular Plan	20,000	0.55	1.78	28,442	2024-12-18	-29.68%
Motilal Oswal Nifty Smallcap 250 Index Fund	12,970	0.15	1.15	28,442	2024-12-18	-54.4%
Motilal Oswal Nifty 500 Index Fund	3,194	0.01	0.28	28,442	2024-12-18	-88.77%
Motilal Oswal Nifty Smallcap 250 ETF	736	0.15	0.07	28,442	2024-12-18	-97.41%
Motilal Oswal BSE Healthcare ETF	263	0.16	0.02	28,442	2024-12-18	-99.08%
Motilal Oswal Nifty 500 ETF	108	0.01	0.01	28,442	2024-12-18	-99.62%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	2.00	2.00	2.00	2.00	10.00
Basic EPS (Rs.)	38.43	38.11	35.63	32.61	1597.37
Diluted EPS (Rs.)	38.38	38.11	35.63	32.61	1597.37
Cash EPS (Rs.)	42.79	41.55	37.27	392.83	1747.28
Book Value[Excl.RevalReserv]/Share (Rs.)	190.35	174.51	167.66	768.11	2049.45
Book Value[Incl.RevalReserv]/Share (Rs.)	190.35	174.51	167.66	768.11	2049.45
Dividend / Share (Rs.)	22.50	21.00	21.00	0.00	0.00
Revenue From Operations / Share (Rs.)	186.35	176.39	173.29	1923.64	7843.43
PBDIT / Share (Rs.)	56.01	54.78	51.48	603.96	2469.13
PBIT / Share (Rs.)	51.65	51.35	48.39	569.89	2319.30
PBT / Share (Rs.)	51.52	51.30	46.11	480.56	2148.30
Net Profit / Share (Rs.)	38.43	38.11	34.17	358.76	1597.44
PBDIT Margin (%)	30.05	31.05	29.70	31.39	31.48
PBIT Margin (%)	27.71	29.11	27.92	29.62	29.56
PBT Margin (%)	27.64	29.08	26.60	24.98	27.38
Net Profit Margin (%)	20.62	21.60	19.72	18.64	20.36
Return on Networth / Equity (%)	20.18	21.83	20.38	46.70	77.94
Return on Capital Employeed (%)	26.24	28.62	28.40	72.00	108.71
Return On Assets (%)	16.51	17.28	16.94	17.60	18.14
Asset Turnover Ratio (%)	0.82	0.83	0.95	1.01	0.96
Current Ratio (X)	4.37	3.67	4.60	1.15	0.88
Quick Ratio (X)	2.85	2.47	3.25	0.72	0.57
Inventory Turnover Ratio (X)	1.67	1.96	1.95	2.11	1.71
Dividend Payout Ratio (NP) (%)	58.54	82.65	30.72	0.00	0.00
Dividend Payout Ratio (CP) (%)	52.57	75.81	28.17	0.00	0.00
Earning Retention Ratio (%)	41.46	17.35	69.28	0.00	0.00
Cash Earning Retention Ratio (%)	47.43	24.19	71.83	0.00	0.00
Interest Coverage Ratio (X)	443.91	1227.15	22.56	6.76	14.44
Interest Coverage Ratio (Post Tax) (X)	305.58	854.68	15.97	5.02	10.34
Enterprise Value (Cr.)	9197.77	4488.68	5111.73	0.00	0.00
EV / Net Operating Revenue (X)	4.03	2.08	2.41	0.00	0.00
EV / EBITDA (X)	13.40	6.69	8.10	0.00	0.00
MarketCap / Net Operating Revenue (X)	4.16	2.22	2.65	0.00	0.00
Retention Ratios (%)	41.45	17.34	69.27	0.00	0.00
Price / BV (X)	4.07	2.24	2.74	0.00	0.00
Price / Net Operating Revenue (X)	4.16	2.22	2.65	0.00	0.00
EarningsYield	0.04	0.09	0.07	0.00	0.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 21, 2024 is: 1,308.15

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.

As of December 21, 2024, is Undervalued by 29.14% compared to the current share price 1,013.00

Intrinsic Value of as of December 21, 2024 is: 828.11

Calculation basis:

Intrinsic 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 intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of December 21, 2024, is Overvalued by 18.25% compared to the current share price 1,013.00

Last 5 Year EPS CAGR: -36.70%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 130.29%, which is a positive sign. The company has higher reserves (1,275.25 cr) compared to borrowings (6.88 cr), indicating strong financial stability. The company has shown consistent growth in sales (112.00 cr) and profit (443.13 cr) over the years.	The stock has a high average Working Capital Days of 43.14, which may not be favorable. The stock has a high average Cash Conversion Cycle of 246.43, which may not be favorable.

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in :
1. Net Profit Margin: 20.62%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 26.24% (Industry Average ROCE: 16.07%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 20.18% (Industry Average ROE: 15.77%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 305.58
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 2.85
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 29.3 (Industry average Stock P/E: 46.07)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Glenmark Life Sciences Ltd. is a Public Limited Listed company incorporated on 23/06/2011 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L74900PN2011PLC139963 and registration number is 139963. Currently company belongs to the Industry of Pharmaceuticals. Company’s Total Operating Revenue is Rs. 2123.21 Cr. and Equity Capital is Rs. 24.51 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Pharmaceuticals	Plot No. 170-172, Chandramouli Industrial Estate, Solapur Maharashtra 413213	complianceofficer@glenmarklifesciences.com http://www.glenmarklifesciences.com

Management
Name	Position Held
Mr. Hiren K Patel	Chairman & Non-Exe.Director
Dr. Yasir Rawjee	Managing Director & CEO
Mr. Vinod Naik	Executive Director
Mrs. Manju Agarwal	Independent Director
Mr. Taruvai Laxminarayanan Easwar	Independent Director
Mr. Kaushikbhai N Patel	Independent Director
Mr. Vijaykumar Shah	Independent Director
Dr. Savan Godiawala	Independent Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 21 December 2024 is ₹1308.15, which is 29.14% higher than the current market price of ₹1,013.00. The stock has a market capitalization of 12,416 Cr. and recorded a high/low of 1,335/638 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹2,514 Cr and total liabilities of ₹3,085 Cr.

What is the Market Cap of ?

The Market Cap of is 12,416 Cr..

What is the current Stock Price of as on 21 December 2024?

The current stock price of as on 21 December 2024 is 1,013.

What is the High / Low of stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of stocks is 1,335/638.

What is the Stock P/E of ?

The Stock P/E of is 29.3.

What is the Book Value of ?

The Book Value of is 207.

What is the Dividend Yield of ?

The Dividend Yield of is 2.22 %.

What is the ROCE of ?

The ROCE of is 28.1 %.

What is the ROE of ?

The ROE of is 21.1 %.

What is the Face Value of ?

The Face Value of is 2.00.