Glenmark Pharmaceuticals Limited

NSEI:GLENMARK Stock Report

Market Cap: ₹417.1b

Glenmark Pharmaceuticals Valuation

Is GLENMARK undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of GLENMARK when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: GLENMARK (₹1478.2) is trading above our estimate of fair value (₹888.11)

Significantly Below Fair Value: GLENMARK is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for GLENMARK?

Key metric: As GLENMARK is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for GLENMARK. This is calculated by dividing GLENMARK's market cap by their current revenue.
What is GLENMARK's PS Ratio?
PS Ratio3.2x
Sales₹130.80b
Market Cap₹417.13b

Price to Sales Ratio vs Peers

How does GLENMARK's PS Ratio compare to its peers?

The above table shows the PS ratio for GLENMARK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average7.1x
500660 GlaxoSmithKline Pharmaceuticals
11.5x8.8%₹409.1b
IPCALAB Ipca Laboratories
4.7x11.8%₹403.7b
PPLPHARMA Piramal Pharma
3.8x13.6%₹331.6b
AJANTPHARM Ajanta Pharma
8.2x11.4%₹369.7b
GLENMARK Glenmark Pharmaceuticals
3.2x10.8%₹417.1b

Price-To-Sales vs Peers: GLENMARK is good value based on its Price-To-Sales Ratio (3.2x) compared to the peer average (7.1x).

Price to Sales Ratio vs Industry

How does GLENMARK's PS Ratio compare vs other companies in the IN Pharmaceuticals Industry?

14 CompaniesPrice / SalesEstimated GrowthMarket Cap
NECLIFE Nectar Lifesciences
0.4xn/aUS$89.20m
539561 Remedium Lifecare
0.07xn/aUS$28.41m
532637 Mangalam Drugs & Organics
0.5xn/aUS$20.04m
524412 Aarey Drugs & Pharmaceuticals
0.3xn/aUS$19.22m
GLENMARK 3.2xIndustry Avg. 3.1xNo. of Companies20PS02.44.87.29.612+
14 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: GLENMARK is expensive based on its Price-To-Sales Ratio (3.2x) compared to the Indian Pharmaceuticals industry average (3.1x).

Price to Sales Ratio vs Fair Ratio

What is GLENMARK's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

GLENMARK PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio3.2x
Fair PS Ratio6.3x

Price-To-Sales vs Fair Ratio: GLENMARK is good value based on its Price-To-Sales Ratio (3.2x) compared to the estimated Fair Price-To-Sales Ratio (6.3x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst GLENMARK forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹1,478.20
₹1,608.07
+8.8%
21.9%₹2,036.00₹570.00n/a14
Nov ’25₹1,690.30
₹1,563.43
-7.5%
24.9%₹1,930.00₹570.00n/a14
Oct ’25₹1,666.95
₹1,520.57
-8.8%
25.3%₹1,900.00₹570.00n/a14
Sep ’25₹1,731.75
₹1,520.57
-12.2%
25.3%₹1,900.00₹570.00n/a14
Aug ’25₹1,437.70
₹1,219.46
-15.2%
20.5%₹1,570.00₹570.00n/a13
Jul ’25₹1,267.45
₹1,177.92
-7.1%
19.6%₹1,412.00₹570.00n/a13
Jun ’25₹1,160.35
₹1,074.57
-7.4%
22.8%₹1,412.00₹570.00n/a14
May ’25₹1,057.20
₹962.79
-8.9%
20.4%₹1,266.00₹570.00n/a14
Apr ’25₹982.45
₹923.00
-6.1%
18.1%₹1,257.00₹570.00n/a14
Mar ’25₹920.30
₹906.57
-1.5%
15.8%₹1,100.00₹570.00n/a14
Feb ’25₹890.50
₹805.14
-9.6%
15.4%₹960.00₹570.00n/a14
Jan ’25₹855.65
₹781.21
-8.7%
14.4%₹958.00₹570.00n/a14
Dec ’24₹792.60
₹767.80
-3.1%
15.6%₹958.00₹570.00n/a15
Nov ’24₹746.10
₹774.00
+3.7%
15.6%₹944.00₹570.00₹1,690.3015
Oct ’24₹855.50
₹747.06
-12.7%
15.6%₹944.00₹570.00₹1,666.9516
Sep ’24₹757.05
₹734.06
-3.0%
16.0%₹944.00₹570.00₹1,731.7516
Aug ’24₹788.20
₹617.80
-21.6%
7.3%₹702.00₹550.00₹1,437.7015
Jul ’24₹676.00
₹601.87
-11.0%
8.7%₹702.00₹510.00₹1,267.4515
Jun ’24₹609.60
₹579.00
-5.0%
13.0%₹702.00₹422.00₹1,160.3517
May ’24₹563.45
₹502.29
-10.9%
13.7%₹677.00₹422.00₹1,057.2017
Apr ’24₹464.70
₹493.18
+6.1%
14.5%₹677.00₹420.00₹982.4517
Mar ’24₹429.10
₹493.18
+14.9%
14.5%₹677.00₹420.00₹920.3017
Feb ’24₹382.70
₹492.24
+28.6%
12.3%₹655.00₹420.00₹890.5017
Jan ’24₹424.15
₹490.81
+15.7%
12.8%₹655.00₹420.00₹855.6516
Dec ’23₹430.70
₹490.47
+13.9%
12.4%₹655.00₹420.00₹792.6017
Nov ’23₹413.40
₹514.44
+24.4%
22.4%₹760.00₹410.00₹746.1018

Analyst Forecast: Target price is less than 20% higher than the current share price.

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