External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Gland Pharma reported a good set of numbers with revenue for the Q4FY22 growing by 24.3% on a YoY basis. </li><li>We believe stock trades at rich valuations of PE of 36.2x and 30.4x for FY23E and FY24E respectively</li><li>We, therefore, recommend a HOLD rating on the stock with a target price of Rs 3,300/share.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Gland Pharma reported a good set of numbers with revenue for the Q4FY22 growing by 24.3% on a YoY basis. We believe stock trades at rich valuations of PE of 36.2x and 30.4x for FY23E and FY24E respectivelyWe, therefore, recommend a HOLD rating on the stock with a target price of Rs 3,300/share.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Gland Pharma Ltd: Strong Growth Across Geographies to Drive Profitability

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>GLAND has 11 injectable products in the USFDA shortage list, which have combined sales of ~USD400m over the past 12-months.</li><li>The overall number of drugs under shortage in the US has declined to a 15-year low at present.</li><li>However, the number of injectables facing a shortage is at its 20-year average, but is at a record high as a percentage of total drug shortages.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

GLAND has 11 injectable products in the USFDA shortage list, which have combined sales of ~USD400m over the past 12-months.The overall number of drugs under shortage in the US has declined to a 15-year low at present.However, the number of injectables facing a shortage is at its 20-year average, but is at a record high as a percentage of total drug shortages.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Gland Pharma: Well-Placed to Gain from the Drug Shortages in the US

<ul><li>Gland Pharma reported a good set of numbers with revenue for the Q3FY22 growing by 23.7% on a YoY basis</li><li>The strong growth was majorly driven by robust performance in the emerging markets as well as the India market while core markets reported an encouraging 10.5% growth</li><li>We, therefore, recommend a HOLD rating on the stock with a target price of Rs 3,575/share.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Gland Pharma reported a good set of numbers with revenue for the Q3FY22 growing by 23.7% on a YoY basisThe strong growth was majorly driven by robust performance in the emerging markets as well as the India market while core markets reported an encouraging 10.5% growthWe, therefore, recommend a HOLD rating on the stock with a target price of Rs 3,575/share.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Gland Pharma: Strong Growth Across Geographies to Drive Profitability

<p>High competition in injectables generic and increase in raw material prices may impact the company's growth and margins in the upcoming quarters. Furthermore, we believe valuations are rich and thus recommend a HOLD with a target price of Rs 4,000/share</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

High competition in injectables generic and increase in raw material prices may impact the company's growth and margins in the upcoming quarters. Furthermore, we believe valuations are rich and thus recommend a HOLD with a target price of Rs 4,000/shareContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Gland Pharma: Strong Growth in Injectable; Rich Valuations

<p>We expect revenue and PAT CAGR of 18.2% and 19.7% respectively over FY21-FY24E and recommend a HOLD with TP of Rs 4,100, implying an upside of 3% from CMP.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We expect revenue and PAT CAGR of 18.2% and 19.7% respectively over FY21-FY24E and recommend a HOLD with TP of Rs 4,100, implying an upside of 3% from CMP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Gland Pharma: Charting New Frontiers Of Growth

India

Gland Pharma is a leading pharmaceutical company specializing in the manufacturing and marketing of complex injectables, operating primarily under a business-to-business (B2B) model. The company provides contract development and manufacturing organization (CDMO) services and out-licenses its generic injectable portfolio globally. Headquartered in Hyderabad, India, it was founded in 1978.

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Gland Pharma (GLAND IN)

Gland Pharma Ltd: Strong Growth Across Geographies to Drive Profitability

We believe stock trades at rich valuations of PE of 36.2x and 30.4x for FY23E and FY24E respectively We, therefore, recommend a HOLD rating on the...

Axis Direct

Gland Pharma: Well-Placed to Gain from the Drug Shortages in the US

GLAND has 11 injectable products in the USFDA shortage list, which have combined sales of ~USD400m over the past 12-months.The overall number of...

Motilal Oswal

Gland Pharma: Strong Growth Across Geographies to Drive Profitability

We believe stock trades at rich valuations of PE of 38.4x and 32.4x for FY23E and FY24E respectively. We, therefore, recommend a HOLD rating on the...

Axis Direct

Gland Pharma: Strong Growth in Injectable; Rich Valuations

High competition in injectables generic and increase in raw material prices may impact the company's growth and margins in the upcoming quarters....

Axis Direct

Gland Pharma: Charting New Frontiers Of Growth

We expect revenue and PAT CAGR of 18.2% and 19.7% respectively over FY21-FY24E and recommend a HOLD with TP of Rs 4,100, implying an upside of 3%...

Axis Direct

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