Hold Gland Pharma; target of Rs 1689: Sharekhan

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26 Aug, 2025 12:21

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Sharekhan's research report on Gland Pharma

However, the company’s management believes the materials’ supply timelines have improved and now gives it better visibility in Q3FY2023. We believe this should help it to somewhat maintain margins over the short-medium term, albeit, at lower levels than before. Increased competition in the US and resultant price erosion are expected to continue to affect its volumes and gross margins over the short-medium term. We believe although the recent acquisition in Europe is accretive at the top line, it will prove EBITDA dilutive – partially offset by any synergy gains, post the integration.

Outlook

We downgrade our rating on Gland Pharma to Hold from Buy and reduce the price target (PT) to Rs. 1,689 (from Rs. 2,260 earlier), as we believe the company is likely to witness margin headwinds over the short-medium term.

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Gland Pharma - 30 -12-2022 - khan