Glenmark Pharma - Debt Reduction, Ichnos Monetisation Is Key: Prabhudas Lilladher
Despite stake sale in Glenmark Lifescience, debt continues to remain at elevated levels.
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Prabhudas Lilladher Report
Glenmark Pharmaceuticals Ltd. in its analyst meet highlighted-
Glenmark Pharma’s future growth prospects for achieving double digit revenue growth,
plans on launching branded products for margin expansion,
becoming a zero net debt company with optimum research and development spends and
attaining of up 20% return on capital employed over next three-four years.
This will hinge on timely niche launches across key markets, out-license deals in Ichnos and scale up in Ryaltris portfolio, in our view.
There has been delay in monetisation of Ichnos stake sale and despite stake sale in Glenmark Life Sciences, debt continues to remain at elevated levels. H1 FY23 performance was muted adjusted for milestone income from Ryaltris.
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