Reduce Glenmark Pharmaceuticals, target price Rs 780: ICICI Securities

ICICI Securities has reduce call on Glenmark Pharmaceuticals with a target price of Rs 780. The current market price of Glenmark Pharmaceuticals Ltd. is Rs 887.

Glenmark Pharmaceuticals Ltd., incorporated in the year 1977, is a Mid Cap company (having a market cap of Rs 24832.21 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-2023.



Financials
For the quarter ended 31-12-2023, the company reported a Consolidated Total Income of Rs 2552.11 Crore, down -20.47 % from last quarter Total Income of Rs 3209.08 Crore and down -27.91 % from last year same quarter Total Income of Rs 3540.27 Crore. Company reported net profit after tax of Rs -330.82 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 46.65 per cent stake in the company as of 31-Dec-2023, while FIIs owned 23.71 per cent, DIIs 10.72 per cent.