Buy Glenmark Pharmaceuticals, target Rs 397: CK Narayan

CK Narayan of Chart Advise has a buy call on Glenmark Pharmaceuticals Ltd. with a target price of Rs 397. The current market price of Glenmark Pharmaceuticals Ltd. is Rs 390.95. Time period given by the analyst is Intra Day when Glenmark Pharmaceuticals Ltd. price can reach defined target. CK Narayan recommended to keep stoploss at Rs 384. Glenmark Pharmaceuticals Ltd., incorporated in 1977, has a market cap of Rs 11031.36 crore.

Glenmark Pharmaceuticals Ltd. key Products/Revenue Segments include Pharmaceuticals which contributed Rs 6042.06 Crore to Sales Value (93.93 % of Total Sales), Other Operating Revenue which contributed Rs 335.83 Crore to Sales Value (5.22 % of Total Sales) and Sale of services which contributed Rs 54.00 Crore to Sales Value (0.83 % of Total Sales)for the year ending 31-Mar-2018.

For the quarter ended 30-06-2019, the company has reported a Consolidated sales of Rs 2283.60 Crore, down -9.60 % from last quarter Sales of Rs 2526.08 Crore and up 7.24 % from last year same quarter Sales of Rs 2129.37 Crore Company has reported net profit after tax of Rs 109.28 Crore in latest quarter. The company’s top management includes Dr.Brian W Tempest, Mr.Bernard Munos, Mr.D R Mehta, Mr.Glenn Saldanha, Mr.Julio Ribeiro, Mr.Milind Sarwate, Mr.Rajesh V Desai, Mr.Sridhar Gorthi, Mr.V S Mani, Mrs.B E Saldanha, Mrs.Cherylann Pinto. Company has Walker, Chandiok & Co.LLP as its auditors. As on 30-06-2019, the company has a total of 282,168,156 shares outstanding.