Buy Glenmark Pharmaceuticals, target price Rs 720: Motilal Oswal Financial Services

Motilal Oswal Financial Services has buy call on Glenmark Pharmaceuticals with a target price of Rs 720. The current market price of Glenmark Pharmaceuticals is Rs 681.35. Motilal Oswal Financial Services recommended to keep stop loss at Rs 673.

Glenmark Pharmaceuticals, incorporated in the year 1977, is a Mid Cap company (having a market cap of Rs 19305.95 Crore) operating in Pharmaceuticals sector.

Glenmark Pharmaceuticals key Products/Revenue Segments include Pharmaceuticals, Other Operating Revenue and Sale of services for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 3333.50 Crore, down -5.84 % from last quarter Total Income of Rs 3540.27 Crore and up 6.63 % from last year same quarter Total Income of Rs 3126.35 Crore. Company has reported net profit after tax of Rs -403.14 Crore in latest quarter.

Investment Rationale
Making higher lows from the last six months which suggests continuous strength and a fresh breakout.

Promoter/FII Holdings
Promoters held 46.65 per cent stake in the company as of 31-Mar-2023, while FIIs owned 22.47 per cent, DIIs 10.2 per cent.