In April 2022, the huge pharmaceutical GLENMARK’s share price was in the region of Rs. 478. By June, it had dipped to the late 300 levels and never significantly went up till November. Highs were felt in December, and February 2023, and now the stock is at the 448 level.
GLENMARK has a consistent track record of paying dividends to its loyal shareholders. In the recent past, the company has paid only final dividends, but interim dividends have been paid in the past as well.
The dividend yield of GLENMARK is 0.56% (March 2022).
Compared to popular competitors of GLENMARK, like Sun Pharma, Dr Reddy’s Labs, CIPLA, Torrent Pharma, Abbott India and others, the company’s share price is low at the moment (March 2023). Most of these companies have their share prices in the thousands, or late hundreds, whereas GLENMARK seems firmly poised on the mid-hundred mark.
The company’s debt-to-equity ratio is 0.22.
The revenue of GLENMARK is Rs. 3,463 crores (Q3 FY 2022-23) and the net income is Rs. 291 crores (December 2022).
GLENMARK started its foray into the pharmaceutical business with “Candid Cream”, a key dermatological drug, even in use now. The company started its business in 1977, headed by its Founder Emeritus, the late Gracias Saldanha.
The share price of GLENMARK has been somewhat stable in the last 4-5 years, not showing much volatility as other pharma stocks have. In 2018, the share was in the region of the 500 mark, peaking at nearly 700 in 2019. Then, with a gradual and slow downward movement, it dipped to the region of 199 in 2020, only to slowly rise to 662 in 2021. Since then, it has been in the range of between 400-500 and is steady now.