Buy Glenmark Pharmaceuticals, target Rs 550: Jay Thakkar

Jay Thakkar of Anand Rathi has a buy call on Glenmark Pharmaceuticals Ltd. with a target price of Rs 550. The current market price of Glenmark Pharmaceuticals Ltd. is Rs 527.15. Time period given by the analyst is Intra Day when Glenmark Pharmaceuticals Ltd. price can reach the defined target. Jay Thakkar recommended to keep stoploss at Rs 525. Glenmark Pharmaceuticals Ltd., incorporated in 1977, has a market cap of Rs 14874.49 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 31-03-2019, the company has reported a Consolidated sales of Rs 2526.08 Crore, up .65 % from last quarter Sales of Rs 2509.78 Crore and up 12.38 % from last year same quarter Sales of Rs 2247.89 Crore Company has reported net profit after tax of Rs 161.66 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 31-03-2019, the company has a total of 282,168,156 shares outstanding.