Reduce Glenmark Pharmaceuticals, target price Rs 660: ICICI Securities

ICICI Securities has reduce call on Glenmark Pharmaceuticals Ltd. with a target price of Rs 660.0. The current market price of Glenmark Pharmaceuticals Ltd. is Rs 780.05 .

Glenmark Pharmaceuticals Ltd., incorporated in the year 1977, is a Mid Cap company (having a market cap of Rs 21800.31 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-2022.



Financials
For the quarter ended 30-09-2023, the company has reported a Consolidated Total Income of Rs 3209.08 Crore, down -6.24 % from last quarter Total Income of Rs 3422.48 Crore and down -7.59 % from last year same quarter Total Income of Rs 3472.68 Crore. Company has reported net profit after tax of Rs -61.56 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 46.65 per cent stake in the company as of 30-Sep-2023, while FIIs owned 24.79 per cent, DIIs 10.11 per cent.