Buy Gland Pharma; target of Rs 4240: Motilal Oswal

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Motilal Oswal's research report on Gland Pharma

Gland Pharma (GLAND) delivered a slight miss on 3QFY22 earnings. Overall, 3QFY22 performance was driven by the India/ROW market. GLAND is on track to build its product pipeline as well as invest in manufacturing infrastructure in the complex categories of Peptides / Long-acting Injectables / Suspensions / Hormonal Products.We lower our EPS estimate by 5% for FY22/FY23, largely to factor in further delays in the export realization of Sputnik and supply disruption related to COVID. We remain positive on GLAND on the back of a) volume-led growth in existing molecules, b) new launches in the complex space, c) its entry into the Biotech segment through the CDMO route, and d) sufficient cash on the balance sheet for inorganic growth.

Outlook

We value GLAND at 35x 12M forward earnings to arrive at Target Price of INR4,240. Reiterate Buy.

More Info on Trent

At 13:52 hrs Gland Pharma was quoting at Rs 3,446.20, down Rs 83.75, or 2.37 percent.

It has touched an intraday high of Rs 3,531.65 and an intraday low of Rs 3,440.55.

It was trading with volumes of 1,608 shares, compared to its thirty day average of 17,906 shares, a decrease of -91.02 percent.

In the previous trading session, the share closed up 1.74 percent or Rs 60.35 at Rs 3,529.95.

The share touched its 52-week high Rs 4,324.65 and 52-week low Rs 2,160.00 on 13 August, 2021 and 16 February, 2021, respectively.

Currently, it is trading 20.31 percent below its 52-week high and 59.55 percent above its 52-week low.

Market capitalisation stands at Rs 56,622.00 crore.

For all recommendations report, click here

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