Glenmark Pharmaceuticals Financial Statements

Glenmark Pharmaceuticals Nine Monthly Results

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Y/e 31 Mar Mar-2021 Mar-2020 Mar-2018 Mar-2017
Growth matrix (%)        
Revenue growth 2.85 17.30 (0.10) 20.10
Op profit growth 22.70 5.12 (21) 41.70
EBIT growth 17.40 2.54 (22) 48
Net profit growth 25 (3.50) (27) 49.20
Profitability ratios (%)        
OPM 19 16 17.80 22.40
EBIT margin 15.50 13.50 15.50 19.90
Net profit margin 8.86 7.29 8.86 12.20
RoCE 14.50 13.40 14.30 20.90
RoNW 3.69 3.45 4.16 6.83
RoA 2.08 1.81 2.04 3.21
Per share ratios ()        
EPS 34.40 27.50 28.50 39.30
Dividend per share 25 2.50 2 2
Cash EPS 18.70 12.70 17.80 29.90
Book value per share 250 215 183 159
Valuation ratios        
P/E 13.50 7.49 18.50 21.80
P/CEPS 24.90 16.20 29.60 28.70
P/B 1.86 0.96 2.88 5.39
EV/EBIDTA 7.80 5.15 10.70 13.40
Payout (%)        
Dividend payout -- -- 7.02 5.09
Tax payout (31) (30) (28) (24)
Liquidity ratios        
Debtor days 83.10 81.30 95.30 98.40
Inventory days 73.60 71.50 83.90 74.50
Creditor days (91) (83) (93) (99)
Leverage ratios        
Interest coverage (4.80) (3.80) (4.90) (7.60)
Net debt / equity 0.50 0.62 0.66 0.82
Net debt / op. profit 1.70 2.21 2.11 1.80
Cost breakup ()        
Material costs (34) (35) (33) (29)
Employee costs (21) (21) (21) (18)
Other costs (26) (28) (28) (31)
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Y/e 31 Mar( In .Cr) Mar-2021 Mar-2020 Mar-2018 Mar-2017
Revenue 10,944 10,641 9,074 9,079
yoy growth (%) 2.85 17.30 (0.10) 20.10
Raw materials (3,699) (3,699) (3,039) (2,614)
As % of sales 33.80 34.80 33.50 28.80
Employee costs (2,344) (2,255) (1,872) (1,641)
As % of sales 21.40 21.20 20.60 18.10
Other costs (2,817) (2,989) (2,549) (2,788)
As % of sales 25.70 28.10 28.10 30.70
Operating profit 2,084 1,698 1,615 2,037
OPM 19 16 17.80 22.40
Depreciation (444) (417) (302) (264)
Interest expense (353) (377) (286) (237)
Other income 50.20 160 91.40 37.40
Profit before tax 1,338 1,063 1,119 1,572
Taxes (412) (320) (315) (383)
Tax rate (31) (30) (28) (24)
Minorities and other -- -- -- --
Adj. profit 926 743 804 1,190
Exceptional items 44.50 32.90 -- (81)
Net profit 970 776 804 1,109
yoy growth (%) 25 (3.50) (27) 49.20
NPM 8.86 7.29 8.86 12.20
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Y/e 31 Mar ( In .Cr) Mar-2021 Mar-2020 Mar-2018 Mar-2017
Profit before tax 1,338 1,063 1,119 1,572
Depreciation (444) (417) (302) (264)
Tax paid (412) (320) (315) (383)
Working capital 1,587 851 1,419 953
Other operating items -- -- -- --
Operating cashflow 2,069 1,177 1,920 1,879
Capital expenditure 5,381 4,436 1,872 469
Free cash flow 7,450 5,614 3,793 2,348
Equity raised 8,803 8,224 6,145 7,013
Investments 24.60 24.60 (2.50) (1.50)
Debt financing/disposal 7,452 7,429 8,366 8,681
Dividends paid -- -- 56.40 56.40
Other items -- -- -- --
Net in cash 23,730 21,291 18,358 18,097
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Y/e 31 Mar ( In .Cr) Mar-2021 Mar-2020 Mar-2019 Mar-2018
Equity capital 28.20 28.20 28.20 28.20
Preference capital -- -- -- --
Reserves 7,036 6,042 5,577 5,135
Net worth 7,065 6,071 5,605 5,163
Minority interest
Debt 4,687 4,869 4,449 4,639
Deferred tax liabilities (net) 346 332 379 408
Total liabilities 12,098 11,270 10,432 10,211
Fixed assets 6,511 6,250 5,069 4,151
Intangible assets
Investments 24.60 24.60 29.70 14.70
Deferred tax asset (net) 1,852 1,771 1,762 1,729
Net working capital 2,571 2,113 2,634 3,081
Inventories 2,277 2,136 2,252 2,031
Inventory Days 75.90 73.30 -- 81.70
Sundry debtors 2,572 2,409 2,195 2,332
Debtor days 85.80 82.60 -- 93.80
Other current assets 1,546 1,298 1,423 1,512
Sundry creditors (2,248) (2,149) (2,240) (1,910)
Creditor days 75 73.70 -- 76.80
Other current liabilities (1,575) (1,581) (995) (883)
Cash 1,139 1,111 938 1,235
Total assets 12,098 11,270 10,432 10,211
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Particulars ( Rupees In Crores.) Dec-2020 Dec-2019 Dec-2018 Dec-2017 Dec-2016
Gross Sales 7,976 7,686 7,179 6,724 6,546
Excise Duty -- -- -- -- --
Net Sales 7,976 7,686 7,179 6,724 6,546
Other Operating Income 108 188 123 98.90 183
Other Income 86.30 115 336 21.90 88.70
Total Income 8,170 7,989 7,638 6,845 6,817
Total Expenditure ** 6,523 6,641 6,080 5,535 5,136
PBIDT 1,647 1,348 1,558 1,310 1,682
Interest 270 279 253 211 168
PBDT 1,377 1,069 1,305 1,099 1,514
Depreciation 332 291 245 228 195
Minority Interest Before NP -- -- -- -- --
Tax 390 311 389 230 454
Deferred Tax (82) (88) (92) (11) (63)
Reported Profit After Tax 736 556 763 652 927
Minority Interest After NP -- -- 0.01 -- --
Net Profit after Minority Interest 736 556 763 652 927
Extra-ordinary Items 27.90 -- 106 -- --
Adjusted Profit After Extra-ordinary item 708 556 657 652 927
EPS (Unit Curr.) 26.10 19.70 27.10 23.10 32.90
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 28.20 28.20 28.20 28.20 28.20
Public Shareholding (Number) -- -- -- -- --
Public Shareholding (%) -- -- -- -- --
Pledged/Encumbered - No. of Shares -- -- -- -- --
Pledged/Encumbered - % in Total Promoters Holding -- -- -- -- --
Pledged/Encumbered - % in Total Equity -- -- -- -- --
Non Encumbered - No. of Shares -- -- -- -- --
Non Encumbered - % in Total Promoters Holding -- -- -- -- --
Non Encumbered - % in Total Equity -- -- -- -- --
PBIDTM(%) 20.70 17.50 21.70 19.50 25.70
PBDTM(%) 17.30 13.90 18.20 16.30 23.10
PATM(%) 9.23 7.23 10.60 9.70 14.20
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