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Buy Glenmark Pharma, says Sumit Bilgaiyan

31 December, 2018 6:43 AM
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Buy Glenmark Pharma, says Sumit Bilgaiyan

business sells its products in over 80 countries, including the US, various countries in the EU, South America and India.

Company has posted good numbers for Q2FY19. During Q2FY19, its net profit increased by 93.32 percent to Rs 414 crore from Rs 214.12 crore on YoY basis on 14.23 percent higher sales of Rs 2539.86 crore. EBITDA grew by 13.3 percent in Q2FY19 to Rs 440.11 crore. It’s PAT increased by 18.17 percent to Rs 646.99 crore in H1FY19. FIIs and DIIs have increased their stake during Q2FY19.

We are recommending a buy in staggered manner for medium to long term.

Source: moneycontrol.com

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