GLENMARK

Glenmark Pharmaceuticals Limited

Global pharmaceutical company with respiratory, dermatology, and oncology products

Healthcare›Healthcare›Pharmaceuticals & Biotechnology›Pharmaceuticals

glenmarkpharma.com(opens the company website in a new tab)
Ask AI

Key metrics

Price as of 2026-10-16

Stock price
₹2226.70
Market cap
62,848 Cr
Stock P/E
35.0
P/B
5.98
Dividend yield
0.2%
ROE (FY26)
13.0%
ROCE (FY26)
20.9%
Operating margin (FY26)
23.5%
OCF / EBITDA (FY26)
75.3%
OCF / EBITDA (3Y)
29.0%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

Loading price history…

Compare with peers

Loading peers…

What you need to know

Glenmark (Glenmark Pharmaceuticals) makes and sells branded, generic and over-the-counter medicines, with a stated focus on dermatology, respiratory and oncology, to patients in India, the United States, Europe and emerging markets.

Company snapshot

11thBy market cap

Ranked among 119 companies in Pharmaceuticals.

What we see

Positives
  • ✓Interest coverage of 19.2x — earnings comfortably cover interest obligations.
Concerns
  • ✗Only 29% of operating profit came in as cash over the last three years — much of it is tied up in unpaid bills or stock.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales3,207 Cr2,507 Cr3,063 Cr3,244 Cr3,434 Cr3,388 Cr3,256 Cr3,264 Cr6,047 Cr3,901 Cr3,771 Cr4,018 Cr
Operating expenses (approx.)2,745 Cr2,715 Cr2,559 Cr2,656 Cr2,832 Cr2,787 Cr2,695 Cr2,684 Cr3,687 Cr3,031 Cr3,008 Cr3,214 Cr
EBITDA462 Cr-209 Cr504 Cr588 Cr602 Cr600 Cr561 Cr581 Cr2,360 Cr870 Cr763 Cr805 Cr
OPM %14.4%-8.3%16.5%18.1%17.5%17.7%17.2%17.8%39.0%22.3%20.2%20.0%
Other income2 Cr45 Cr773 Cr31 Cr39 Cr31 Cr12 Cr26 Cr201 Cr44 Cr189 Cr66 Cr
Interest121 Cr134 Cr149 Cr40 Cr48 Cr52 Cr67 Cr58 Cr66 Cr41 Cr43 Cr54 Cr
Depreciation141 Cr147 Cr151 Cr118 Cr120 Cr123 Cr125 Cr130 Cr141 Cr154 Cr148 Cr173 Cr
Profit before tax33 Cr-361 Cr562 Cr462 Cr473 Cr456 Cr8 Cr96 Cr967 Cr534 Cr388 Cr643 Cr
Tax %295.1%8.3%316.1%26.4%25.0%23.7%45.0%50.9%36.9%24.5%22.3%25.0%
Net profit-64 Cr-331 Cr-1,214 Cr340 Cr354 Cr348 Cr4 Cr47 Cr610 Cr403 Cr301 Cr483 Cr
EPS (₹)₹-2.90₹-12.45₹-43.18₹12.06₹12.55₹12.33₹0.16₹1.66₹21.63₹14.29₹10.68₹17.11

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales9,186 Cr9,103 Cr9,865 Cr10,641 Cr10,944 Cr12,305 Cr12,990 Cr11,813 Cr13,322 Cr16,983 CrSign in free for the trailing twelve months
Operating expenses (approx.)7,149 Cr7,488 Cr8,280 Cr8,943 Cr8,860 Cr9,985 Cr10,712 Cr10,618 Cr10,970 Cr12,410 CrSign in free for the trailing twelve months
EBITDA2,037 Cr1,615 Cr1,586 Cr1,698 Cr2,084 Cr2,320 Cr2,278 Cr1,195 Cr2,351 Cr4,572 CrSign in free for the trailing twelve months
OPM %22.2%17.7%16.1%16.0%19.0%18.9%17.5%10.1%17.7%26.9%Sign in free for the trailing twelve months
Other income37 Cr91 Cr208 Cr160 Cr50 Cr167 Cr317 Cr840 Cr114 Cr461 CrSign in free for the trailing twelve months
Interest237 Cr286 Cr335 Cr377 Cr353 Cr298 Cr350 Cr516 Cr207 Cr209 CrSign in free for the trailing twelve months
Depreciation264 Cr302 Cr326 Cr417 Cr444 Cr487 Cr611 Cr582 Cr486 Cr573 CrSign in free for the trailing twelve months
Profit before tax1,491 Cr1,119 Cr1,301 Cr1,096 Cr1,382 Cr1,441 Cr868 Cr569 Cr1,399 Cr1,985 CrSign in free for the trailing twelve months
Tax %25.7%28.2%28.9%29.2%29.8%31.1%56.5%351.9%25.2%31.4%Sign in free for the trailing twelve months
Net profit1,109 Cr804 Cr925 Cr776 Cr970 Cr994 Cr377 Cr-1,434 Cr1,047 Cr1,362 CrSign in free for the trailing twelve months
EPS (₹)₹39.29₹28.49₹32.78₹27.50₹34.38₹33.37₹10.53₹-53.22₹37.11₹48.26Sign in free for the trailing twelve months
Dividend payout %————7.3%9.3%36.2%—6.7%10.4%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital28 Cr28 Cr28 Cr28 Cr28 Cr28 Cr28 Cr28 Cr28 Cr28 Cr
Reserves4,464 Cr5,135 Cr5,577 Cr6,042 Cr7,036 Cr9,058 Cr9,446 Cr7,820 Cr8,821 Cr10,484 Cr
Borrowings4,724 Cr4,437 Cr3,877 Cr4,486 Cr4,402 Cr3,670 Cr4,348 Cr991 Cr2,194 Cr—
Other liabilities2,548 Cr2,995 Cr3,807 Cr4,129 Cr4,137 Cr3,975 Cr5,185 Cr5,520 Cr5,006 Cr9,396 Cr
Total liabilities11,764 Cr12,595 Cr13,289 Cr14,685 Cr15,604 Cr17,083 Cr19,372 Cr14,359 Cr16,050 Cr19,908 Cr
Fixed assets (net)1,784 Cr1,896 Cr2,098 Cr2,978 Cr2,958 Cr3,691 Cr3,904 Cr3,118 Cr3,319 Cr3,890 Cr
CWIP630 Cr993 Cr1,234 Cr1,091 Cr1,218 Cr921 Cr1,115 Cr419 Cr542 Cr428 Cr
Investments16 Cr15 Cr30 Cr25 Cr25 Cr50 Cr45 Cr790 Cr56 Cr42 Cr
Inventories2,139 Cr2,031 Cr2,252 Cr2,136 Cr2,277 Cr2,500 Cr2,978 Cr2,513 Cr3,029 Cr3,431 Cr
Trade receivables2,404 Cr2,332 Cr2,195 Cr2,409 Cr2,572 Cr3,101 Cr4,099 Cr1,858 Cr3,342 Cr4,963 Cr
Cash & bank1,056 Cr1,233 Cr936 Cr1,110 Cr1,138 Cr1,411 Cr1,443 Cr1,658 Cr1,676 Cr1,175 Cr
Other assets3,735 Cr4,096 Cr4,544 Cr4,937 Cr5,416 Cr5,410 Cr5,788 Cr4,002 Cr4,086 Cr5,979 Cr
Total assets11,764 Cr12,595 Cr13,289 Cr14,685 Cr15,604 Cr17,083 Cr19,372 Cr14,359 Cr16,050 Cr19,908 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity657 Cr1,648 Cr1,324 Cr1,392 Cr1,131 Cr1,109 Cr625 Cr-265 Cr-828 Cr3,445 Cr
Cash from investing-712 Cr-1,013 Cr-699 Cr-784 Cr-675 Cr-333 Cr-528 Cr4,369 Cr2 Cr-1,283 Cr
Cash from financing543 Cr-468 Cr-739 Cr-445 Cr-442 Cr-520 Cr-77 Cr-3,906 Cr787 Cr-2,709 Cr
Net cash flow199 Cr177 Cr-297 Cr174 Cr28 Cr272 Cr33 Cr215 Cr17 Cr-501 Cr
Free cash flow (OCF − Capex)-91 Cr603 Cr87 Cr461 Cr356 Cr319 Cr18 Cr-1,164 Cr-1,577 Cr2,087 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %18.8%14.6%17.2%14.0%15.1%13.3%8.6%12.3%14.5%20.9%
ROE %24.7%15.6%16.5%12.8%13.7%10.0%3.8%-19.1%11.8%13.0%
Debtor days9593818386921155791106
Inventory days331344335307264278302290367422
Days payable269317331305260254242293313460
Cash conversion cycle1561208684901151745514668
OCF / EBITDA %32.3%102.0%83.5%82.0%54.3%47.8%27.4%-22.2%-35.2%75.3%
OCF / EBITDA % (3 years)——69.3%89.1%71.7%59.5%42.9%25.3%-8.0%29.0%
Debt / equity1.050.860.690.740.620.400.460.130.25—
Current ratio2.542.131.671.651.751.771.961.281.561.77
Net debt / EBITDA1.80—1.851.991.570.971.27-0.560.22-0.26