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You are here : IndiaNotes >> Research & Analysis >> Companies >> Glenmark Pharmaceuticals Ltd. >> Research

Glenmark Pharma Q4FY17: Firstcall are overweight for medium to long term investment

Firstcall India Equity | 17 May, 2017  | Follow Author | Add to my Favourites 
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SYNOPSIS

  • Glenmark Pharmaceuticals Ltd is a research-driven, global, integrated pharmaceutical organization headquartered at Mumbai, India.
  • During Q4 FY17, consolidated net profit jumps to Rs. 1837.61 mn from Rs. 1487.99 mn in Q4 FY16, an increase of 23.50%.
  • Consolidated revenue for the quarter increased by 6.52% to Rs. 24571.83 mn as against Rs. 23066.76 mn, when compared with the prior year period.
  • During Q4 FY17, consolidated EBIDTA is Rs. 3925.56 mn as against Rs. 3151.52 mn in the corresponding period of the previous year.
  • During Q4 FY17, consolidated PBT stood at Rs. 1730.33 mn as against Rs. 2092.41 mn in Q4 FY16.
  • EPS of the company stood at Rs. 6.51 a share during the quarter, as against Rs. 5.27 per share over previous year period.
  • Glenmark Pharmaceuticals Ltd has recommended Dividend @ 200% i.e. Rs. 2/- per share (face value of Re. 1/- each) on the Equity Share Capital of the Company for the financial year 2016 - 2017.
  • Net Sales and PAT of the company are expected to grow at a CAGR of 17% and 34% over 2016 to 2019E, respectively.


OUTLOOK AND CONCLUSION

  • At the current market price of Rs. 714.10, the stock P/E ratio is at 15.06 x FY18E and 13.00 x FY19E respectively.
  • Earning per share (EPS) of the company for the earnings for FY18E and FY19E is seen at Rs. 47.43 and Rs. 54.91 respectively.
  • Net Sales and PAT of the company are expected to grow at a CAGR of 17% and 34% over 2016 to 2019E respectively
  • On the basis of EV/EBITDA, the stock trades at 10.27 x for FY18E and 8.83 x for FY19E.
  • Price to Book Value of the stock is expected to be at 3.88 x and 3.21 x for FY18E and FY19E respectively.
  • Hence, we say that, we are Overweight in this particular scrip for Medium to Long term investment.

 


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About Firstcall India Equity

Firstcall India Equity of Firstcall India Equity Advisors Pvt. Limited (FIEA), is a leading financial services provider in India and a SEBI Registered Category-I Merchant Banker. FIEA is a culmination of a credible Equity Research Capabilities, Long Standing Relationship with leading FIIs, DFIs, MFs, Overseas Pension Funds etc. The company’s research caters to the needs of the largest news wire and media houses of the world namely Reuters, Thomson, Capital IQ, Themarkets.com, Emerging Markets Euro money Publications-UK. The Company is among the major players in the Debt and Equity markets.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.




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