homemarket Newsstocks News

Goldman Sachs initiates coverage on Glenmark Life Sciences, here’s why

market | Sept 13, 2021 10:06 AM IST

Goldman Sachs initiates coverage on Glenmark Life Sciences, here’s why

Mini

Goldman Sachs has initiated a coverage on Glenmark Life Sciences with a buy rating and a target price of Rs 850.

Goldman Sachs has initiated a coverage on Glenmark Life Sciences with a buy rating and a target price of Rs 850.

Recommended Articles

View All

Glenmark Life Sciences is a leading developer and manufacturer of select high value, non-commoditised active pharmaceutical ingredients (APIs) and Goldman Sachs sees this as an addressable market of $142 billion, growing at 6.5 percent on an annual basis.
Goldman Sachs expects the company to have a topline compounded annual growth rate (CAGR) of 16 percent over the next three years between FY21 and FY23 largely driven by three reasons, one is diversifying its customer base, two is leveraging relationships with large pharmaceutical companies to expand its CDMO business, and three is raising its production capacities in both the facilities in Ankleshwar as well as in Dahej.
While the EBITDA margins will be stable given the pace, Goldman Sachs expects a profit after tax (PAT) growth of over 24 percent over the next three years.
Watch the accompanying video of CNBC-TV18’s Nimesh Shah for more details.
To watch other videos in this series, click on the Standout Brokerage Report tab below.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

Top Budget Opinions

    Most Read

    Market Movers

    View All
    Top GainersTop Losers
    CurrencyCommodities
    CompanyPriceChng%Chng