Performance in revival mode; valuation attractive

Company
21 Mar 2024
5 Min read 
  • Gland Pharma has seen a revival in its business performance in 9MFY24 after a weak FY23.
  •  The revival in sales in the company's core markets has been driven by new launches and the relaunch of certain products.
  •  The company is working on new registrations and adding new markets in the ROW segment.
  •  Gland Pharma is also adding new areas of growth through M&A and organic routes.
  •  The company is valued at 27x 12M forward earnings with a target price of INR2,240.
  •  Gland Pharma is expected to deliver a 20% earnings CAGR over FY24-26.
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