Glenmark Pharma - Debt Reduction, Ichnos Monetisation Is Key: Prabhudas Lilladher

Despite stake sale in Glenmark Lifescience, debt continues to remain at elevated levels.

<div class="paragraphs"><p>Glenmark Pharmaceutical Ltd.'s manufacturing facility in Indore. (Source: Company website)</p></div>
Glenmark Pharmaceutical Ltd.'s manufacturing facility in Indore. (Source: Company website)

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Prabhudas Lilladher Report

Glenmark Pharmaceuticals Ltd. in its analyst meet highlighted-

  1. Glenmark Pharma’s future growth prospects for achieving double digit revenue growth,

  2. plans on launching branded products for margin expansion,

  3. becoming a zero net debt company with optimum research and development spends and

  4. 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.

Click on the attachment to read the full report:

Prabhudas Lilladher Glenmark Pharma Analyst Meet Update.pdf


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