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India's "Pharmaceuticals Mission" aims to boost generic production, with simple generics leading the market due to cost-effectiveness and ease of manufacturing. Cardiovascular diseases drive demand, while small molecules dominate product types. Retail pharmacies remain the preferred distribution channel, and key players like Cipla and Teva are expanding their offerings.
KR Choksey has maintained a "BUY" rating for Glenmark Pharmaceuticals with a target price of INR 1,894. The company"s revenue growth was supported by strong performance in India and Europe, although EBITDA fell short due to higher employee and other expenses. Adjusted net profit exceeded estimates, driven by lower depreciation and tax expenses, with expectations of 6.7% revenue growth and 42.5% adjusted PAT growth over FY24-FY26E.
HSBC has maintained a hold rating on Glenmark Pharma, reducing its target price to ₹1,600 from ₹1,660, citing a disappointing Q2 performance due to higher overheads, despite strong sales in India. Meanwhile, Morgan Stanley has upgraded Suzlon Energy, highlighting positive market sentiment. Glenmark"s future growth hinges on new launches and improved execution in the US market, with plans for significant R&D investment in the coming years.
Markets are set to experience notable movements this week, with particular attention on Hero Moto and Glenmark. Investors are encouraged to stay informed and receive updates on their transactions through push notifications for relevant content.
Glenmark Pharmaceuticals reported a PAT of Rs 354 crore for the September quarter, with consolidated total revenue from operations reaching Rs 3,433.8 crore, up from Rs 3,207.37 crore in the same period last year. Total expenses decreased slightly to Rs 3,000.64 crore compared to Rs 3,008 crore a year ago.
Glenmark Pharmaceuticals reported a consolidated net profit of Rs 354.5 crore for Q2 FY25, rebounding from a loss of Rs 180.3 crore in the same quarter last year. Revenue from operations increased by 7.1% to Rs 3,433 crore, driven by strong performances in the Indian and European markets, particularly in cardiac and dermatology sectors. Despite a slight revenue drop in North America, the company’s EBITDA grew by 30.2% to Rs 601.9 crore, with margins at 17.5%.
On November 14, 1,181 companies, including Hero MotoCorp, HAL, and Glenmark, are set to report their Q2 earnings, reflecting diverse sectoral trends. Eicher Motors achieved record revenue despite a slight sales volume decline, while Vodafone Idea reported a narrowed net loss amid a shrinking subscriber base. The market showed signs of recovery after recent declines, with the BSE Sensex and Nifty 50 gaining points in early trading.
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