Hold Glenmark Pharmaceuticals, target price Rs 440: ICICI Direct

ICICI Direct has hold call on Glenmark Pharmaceuticals with a target price of Rs 440. The current market price of Glenmark Pharmaceuticals is Rs 392.2. Time period given by analyst is one year when Glenmark Pharmaceuticals Ltd. price can reach defined target.

Glenmark Pharmaceuticals Ltd., incorporated in the year 1977, is a Mid Cap company (having a market cap of Rs 11075.10 Crore) operating in Pharmaceuticals sector.

Glenmark Pharmaceuticals Ltd. key Products/Revenue Segments include Pharmaceuticals, Other Operating Revenue and Sale of services for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 2960.44 Crore, down -5.31 % from last quarter Total Income of Rs 3126.35 Crore and down -2.09 % from last year same quarter Total Income of Rs 3023.54 Crore. Company reported net profit after tax of Rs 211.11 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 46.65 per cent stake in the company as of 30-Jun-2022, while FIIs owned 28.54 per cent, DIIs 6.18 per cent.