Glenmark Pharma Q4 Results Review: ICICI Securities Maintains 'Reduce' But Hikes Target Price — Here's Why

Glenmark will launch gFlovent in US in Q2 FY26 and a re-inspection of Monroe plant may happen in near term which could help it revive US growth. India growth may be slower in near term as it has discontinued some products to improve profitability. ISB 2001 is likely to be out-licensed in FY26 and should rope in $200-250 million which it will deploy for IGI’s R&D for next three-four years..NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.Glenmark Pharmaceuticals Ltd.’s Q4 FY25 result was below our expectations. Growth was dragged by muted performance in India (flat YoY) and US businesses (-9.5% YoY), though traction in Europe (up 19.9%) was slightly better. Glenmark will launch gFlovent in US in Q2 FY26 and a re-inspection of Monroe plant may happen in near term which could help it revive US growth. India growth may be slower in near term as it has discontinued some products to improve profitability. ISB 2001 is likely to be out-licensed in FY26 and should rope in $200-250 million which it will deploy for IGI’s R&D for next three-four years. FY26 guidance is set at 10-12% revenue growth and Ebitda margin at 19-20% led by Ryaltis ($100 million sales), new launches in US (gFlovent) and downsizing research and development (6-7% of sales). We cut FY27E EPS by ~1% to factor in slower growth in India. Maintain Reduce with higher target price of Rs 1,300, based on 18 times FY27E EPS..Click on the attachment to read the full report:.Orchid Pharma Q4 Results Review: A Strong Start For Enemetazobactam In India; Systematix Maintains 'Buy'.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Glenmark Pharma Q4 Results Review: ICICI Securities Maintains 'Reduce' But Hikes Target Price — Here's Why

ICICI Securities maintains Reduce with higher target price of Rs 1,300, based on 18 times FY27E EPS.

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