# Glenmark share price today (Glenmark Pharmaceuticals Ltd, NSE: GLENMARK)

> Glenmark share price today: ₹2,504.70 at the NSE close on 4 November 2026, up 38.3% in a year. Glenmark Pharmaceuticals (NSE: GLENMARK) is worth ₹70,680 crore, trades at a P/E of 22.7 and has closed between ₹1,811.50 and ₹2,515.00 over the past 52 weeks. > Glenmark Pharmaceuticals Ltd is reporting record margins. GLENMARK · Pharma - Formulators · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/glenmark-pharmaceuticals-ltd

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## Key numbers

- Business trend: Mixed, from fewer quarters than usual
- Price: ₹2,504.70 (+38.3% in a year)
- P/E: 22.7× (higher than 69% of the last 11 years)
- Revenue (Jun 2026): ₹4,018 Cr (+23.1% on a year ago)
- Profit (Jun 2026): ₹483 Cr (+927.7% on a year ago)
- Operating margin: 20.0% (+2.0 points on a year ago)
- ROCE: 40%, FY26
- ROIC: 29.9%, against a 12.0% cost of capital: +17.9 points

The main question: foreign institutions moved −1.5 percentage points over 8 quarters while the business went the other way. ## What is the Glenmark share price today? Glenmark Pharmaceuticals Ltd's share price was ₹2,504.70 at the close on 4 November 2026. It has been rising for 73 weeks. That is 13.2% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹1,812 and ₹2,515, and at that close it sat 99% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 14 weeks in a row. Over the last 11 years the share price moved +240% while the NIFTY 500 moved +257%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Glenmark this quarter? Three changes stood out: revenue up on a year earlier for 10 quarters in a row, indian funds and insurers (DIIs) cut their stake for 3 quarters in a row and foreign funds (FIIs) raised their stake for 3 quarters in a row. 1. Revenue up on a year earlier for 10 quarters in a row In the June 2026 quarter revenue was ₹4,018 crore, +23.1% on a year earlier. 2. Indian funds and insurers (DIIs) cut their stake for 3 quarters in a row From 20.1% to 17.6% of the company by the September 2026 quarter. 3. Foreign funds (FIIs) raised their stake for 3 quarters in a row From 19.2% to 21.5% of the company by the September 2026 quarter. ## What are Glenmark's latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Glenmark reported revenue of ₹4,018 crore, up 23.1% from ₹3,264 crore a year earlier, and a profit of ₹483 crore, up 927.7% from ₹47.0 crore. ### Glenmark results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹4,018 crore | ₹3,264 crore | +23.1% |
| Profit | ₹483 crore | ₹47.0 crore | +927.7% |
| Earnings per share | ₹17.11 | ₹1.66 | +930.7% |
| Operating margin | 20.0% | 18.0% | +2.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Glenmark's management discussed these results on a call held on 3 August 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Glenmark share price history? Glenmark closed at ₹2,504.70 on 4 November 2026, up 38.3% from ₹1,811.50 a year earlier (7 November 2025) and up 378.5% over five years. Its highest weekly close since February 2016 was ₹2,515.00 on 28 August 2026. ### Glenmark share price: then and now

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹2,298.70 | +9.0% |
| 1 month ago · 1 Oct 2026 | ₹2,331.00 | +7.5% |
| 6 months ago · 8 May 2026 | ₹2,366.40 | +5.8% |
| 1 year ago · 7 Nov 2025 | ₹1,811.50 | +38.3% |
| 3 years ago · 3 Nov 2023 | ₹746.60 | +235.5% |
| 5 years ago · 4 Nov 2021 | ₹523.40 | +378.5% |
| 10 years ago · 4 Nov 2016 | ₹869.15 | +188.2% |
| Earliest weekly close in our records · 26 Feb 2016 | ₹736.60 | +240.0% |
| Highest weekly close since February 2016, also the 52-week high · 28 Aug 2026 | ₹2,515.00 | −0.4% |
| Lowest weekly close since February 2016 · 27 Mar 2020 | ₹199.15 | +1,157.7% |
| 52-week low (weekly close) · 7 Nov 2025 | ₹1,811.50 | +38.3% |

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (565 weekly closes from 26 February 2016 to 4 November 2026.)

## What is the latest news on Glenmark? 4 Nov 2026: Glenmark closed at ₹2,504.70, up 9.0% on the week and up 7.5% on the month. 31 Aug 2026: ex-date for a dividend of ₹2.50 a share. ### Earlier

- 3 Aug 2026: Glenmark held its results call for April to June 2026. Management guided: India formulations are expected to grow 12.0% to 15.0% consistently; the typical mix is 6.0% to 7.0% volume, 3.0% new products and 3.0% to 4.0% value. - Results for April to June 2026: Revenue up 23.1% and profit up 927.7% on a year earlier. ## What dividend does Glenmark pay? Glenmark paid ₹2.50 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.10% at the ₹2,504.70 close on 4 November 2026. The last was a dividend of ₹2.50 a share, ex-date 31 August 2026. ### Glenmark dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 31 Aug 2026 | ₹2.50 | Dividend |
| 3 Oct 2025 | ₹2.50 | Interim |
| 15 Sep 2025 | ₹2.50 | Dividend |
| 13 Sep 2024 | ₹2.50 | Dividend |
| 18 Sep 2023 | ₹2.50 | Dividend |
| 12 Sep 2022 | ₹2.50 | Dividend |
| 8 Sep 2021 | ₹2.50 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Glenmark Pharmaceuticals Ltd paid out 10% of its profit as dividends in FY26, and it paid a dividend in 11 of its last 13 reported years. One of those years shows a negative figure because profit itself was negative. (From the NSE corporate-actions record, read 5 November 2026.)

## What did Glenmark management say on the latest results call? On the call for April to June 2026, held on 3 August 2026, Glenmark's management guided: India formulations are expected to grow 12.0% to 15.0% consistently; the typical mix is 6.0% to 7.0% volume, 3.0% new products and 3.0% to 4.0% value. > “For ISB 2301, we will clearly wait until we at least obtain some clinical data in humans and achieve some proof of concept before we even start looking at potential partnerships.”
> Glenn Saldanha, Chairman & Managing Director, on the call for April to June 2026

### What management guided

- Europe is expected to deliver high-single-digit growth in FY27 and return to double-digit growth next year; branded products are planned at about 60.0% of sales within 5 years from around 30.0% today. Ryaltris is expected in 10 markets, including Brazil in H2 FY27, with 2-3 additional European respiratory launches over 12-18 months. - At least 2 of 3 pending respiratory products, including Fluticasone 110 mcg and Ipratropium, are expected to receive approval in H2 FY27; Fluticasone 44 mcg is expected to provide a full-quarter contribution in July to September 2026. - Overall R&D spend is expected to remain around 7.0% to 8.0%. - Aumolertinib commercial launch is anticipated in H2 FY27, first Trastuzumab deruxtecan MA applications in July to September 2026 and Kinayo's first commercial launch in FY28; Aumolertinib, Trastuzumab deruxtecan and Envafolimab are estimated to contribute 500-600 million over 5-6 years. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijoristack.ai/concall/transcript/4308-03-Aug-2026.pdf). (From the call for April to June 2026, 3 August 2026.)

## What is the future of Glenmark? What is changing in the business? What is changing at Glenmark, from the latest results and calls: balance sheet transformation, zero gross debt, ryaltris multi-market scaling, $100m to $200-250m by fy28 and abbvie isb 2001, beat platform validated as deal-capable technology. - Balance Sheet Transformation, Zero Gross Debt. IBD 2001 deal ($700M upfront) eliminated ₹1,300 crore debt; net cash positive from March 2026, interest savings ₹130-150 Cr/year flow directly to profit from FY27. ⚠ estimate
- Ryaltris Multi-Market Scaling, $100M to $200-250M by FY28. Ryaltris $100M FY26 revenue in 55 markets; direct US commercialization April 2026; 8-10 new markets including Brazil; 30-40% growth planned, from management. ⚠ estimate
- AbbVie ISB 2001, BEAT Platform Validated as Deal-Capable Technology. AbbVie licensed ISB 2001 for $700M upfront + $1.225B milestones + double-digit royalties, first external confirmation of IGI's multi-specific BEAT platform applicability at top-5 pharma standards. ⚠ estimate
- India Formulations Outperformance, 13.5% vs IPM 9% FY26. FY26 India formulations grew 13.5% vs IPM 9%; January to March 2026 ₹10,201 million (+8.2% on a year earlier); rank 2 dermatology, rank 3 respiratory; Glyptik (Semaglutide) launched for diabetes turnaround. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Our read after the latest results, written 31 May 2026.)

## What could change the Glenmark story? What are the risks? April to June 2026 concall reduces operating margin guidance to 21-22% from prior 23%, the 5th guidance revision in 4 concalls, each compounding the credibility discount on future guidance. ### The main risks

- Operating profit Margin Guidance Downgrade, 5th Instance: April to June 2026 concall reduces operating margin guidance to 21-22% from prior 23%, the 5th guidance revision in 4 concalls, each compounding the credibility discount on future guidance. ✓ fact
- Ryaltris US Direct Commercialization Execution Risk: April 2026 transition from Menarini to internal US commercialization, building US salesforce from scratch; near-term setup costs compress April to June 2026 margins; success is unproven. ✓ fact
- India Diabetes Franchise Structural Headwind: Generic Dapagliflozin and Sitagliptin pressure existing diabetes brands; January to March 2026 India +8.2% (lowest in 4 quarters); management positioning Glyptik as the offset from April to June 2026. ✓ fact

(Our read after the latest results, written 31 May 2026.)

## What to watch in Glenmark's next results? When Glenmark reports July to September 2026, these are the 3 checks that show whether the story is still on course. First: US respiratory approvals and launch conversion to show through as planned in the second half. - What to check (from the call)
- US respiratory approvals and launch conversion to show through as planned in the second half. - Geopolitical API, packing and logistics costs to remain contained through product and geographic mix. - European branded portfolio and Winlevi adoption to translate into stronger regional momentum. ## Which stock lists is Glenmark on? Glenmark is on 3 of our India lists: Momentum stocks, Small & mid cap stocks and Pharma stocks. - [Momentum stocks Market cap cr: 70688.82955583591](https://www.sectoralpha.in/momentum-stocks-india)
- [Small & mid cap stocks Size rank in India: 152](https://www.sectoralpha.in/small-cap-stocks-india)
- [Pharma stocks Market value (₹ crore): 70688.82955583591](https://www.sectoralpha.in/sectors/pharma-stocks-india)

## Is Glenmark profitable? Glenmark Pharmaceuticals Ltd earned ₹483 Cr of net profit in the Jun 2026 quarter, +927.7% on the same quarter a year earlier. That is the 4th quarter in a row of profit growth. Full-year FY26 profit was ₹1,362 Cr. Over 10 years profit has grown 6.2% a year on average. That is 12.0% of the quarter's revenue. The same quarter a year earlier earned ₹47.0 Cr. 3 of the last 12 reported quarters were loss-making. For the full year, FY26 profit was ₹1,362 Cr (+30.1% on the year before). Why profit moved: revenue changed +23.1% on a year earlier and the margin moved +2.0 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed +2,110.2% and revenue +32.5%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does Glenmark make, and is it growing? Glenmark Pharmaceuticals Ltd reported ₹4,018 Cr of revenue in the Jun 2026 quarter, +23.1% on the same quarter a year earlier. That is the 10th quarter in a row with growth on the year before. Over 10 years it has grown 8.4% a year on average. The last full year, FY26, came in at ₹16,983 Cr. The last four reported quarters add to ₹17,737 Cr. FY26 revenue was ₹16,983 Cr, +27.5% on the year before. Recent pace: the last four quarters grew +32.5% on average, against 8.4% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +32.9%, against +21.5% a year over the last 8 quarters (accelerating). ## How much of every ₹100 of sales does Glenmark keep? Glenmark Pharmaceuticals Ltd's operating margin was 20.0% in the Jun 2026 quarter, 2.0 percentage points higher than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 13 years it has been between 10.0% and 27.0%. The latest quarter is within that range. Why the margin moved: operating margin changed +2.3 percentage points on the year while gross margin changed +0.1 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales. When margins are at a record, every ratio built on profit looks better than usual, so watch whether they hold. ## Is Glenmark's profit turning into cash? Over the last 3 years, 116% of Glenmark Pharmaceuticals Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹3,445 Cr of operating cash against ₹1,362 Cr of profit. After ₹2,075 Cr of spending on assets, ₹1,370 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 116% of profit came in as cash: the cash cycle stayed about the same between FY21 and FY26, so the cash follows profit, not the cycle. What to look at next: no single use of cash stands out. The next section checks both the cash tied up in daily operations and the spending on assets. ## Where does Glenmark's cash go? Glenmark Pharmaceuticals Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 83 days in FY26, down from 90 days in FY21. It spent ₹1,853 Cr on assets over the last 3 years. Customers take 107 days to pay, and stock sits for 264 days on average. At FY26 sales of ₹16,983 Cr, each day of that cycle ties up about ₹46.5 Cr, so roughly ₹3,862 Cr is tied up in the business at any time. FY26: customers took 107 days to pay and stock sat for 264 days, about 8.7 months of sales sitting as stock, for a full cycle of 83 days, shorter than FY21's 90. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 264 days. Customers pay about 107 days after that. Suppliers are paid at 288 days. Together that makes the 83-day cycle. Spending on assets: ₹1,853 Cr over the last 3 years, against ₹1,641 Cr of depreciation (the yearly wear and tear on existing assets). So it is building a little beyond replacing what wears out. Work still in progress is ₹909 Cr (FY26): assets paid for that are not earning yet. In short: neither the daily cycle nor new spending is soaking up the cash, so the picture is fairly clean. ## What is Glenmark's P/E ratio, and how does it compare with its own history? Glenmark Pharmaceuticals Ltd's P/E is 22.7×, in the middle of its own history: higher than 69% of past readings. Its usual P/E (the middle reading) is 19.2×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹63.71. Why the multiple is where it is: over the past year earnings per share moved +30.0% while the price moved +38.3%. The price did better than earnings, which pushed the multiple up within its own range. Where the price move came from: over 5 years the price moved +36.8% a year; about +25.3% a year came from earnings growth and about +11.5 percentage points from the multiple (the market paying more); over 10 years the price moved +11.2% a year; about +14.7% a year came from earnings growth and about −3.5 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Glenmark business getting better or worse? Glenmark Pharmaceuticals Ltd's business is giving mixed signals. There is no clear direction across the growth lines, with ROCE rising at 23.2%; each line tells part of the story. This is based on 12 quarters of 3 measures, with some gaps. Why it matters: when the lines disagree, each line above matters more than any single label. One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result. This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution. ## How much does Glenmark earn on its capital? Glenmark Pharmaceuticals Ltd earned a ROCE of 40% in FY26. That is up from a low of 10% in FY23. Its return on capital used (ROIC) is 17.9 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 8.0% net margin and 0.85× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 8.0% net margin × 0.85× asset turnover × 1.89× leverage (assets divided by equity) ≈ 12.9% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 29.9% − 12.0% = +17.9 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. A gap this wide means each rupee put back into the business creates more than a rupee of value. The 29.9% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 28.5%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Glenmark have too much debt? Glenmark Pharmaceuticals Ltd has total debt of ₹594 Cr against shareholder equity of ₹10,512 Cr as of Jun 2026, so its debt is 0.06× its equity, which is very little. Year by year, that ratio went from 0.42 in FY22 to 0.06 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the Glenmark shareholding pattern? Domestic institutions raised their stake in Glenmark Pharmaceuticals Ltd by 4.4 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 17.6% of the company. Foreign institutions moved −1.5 points over the same period, to 21.5%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: +4.4 points over 8 quarters, to 17.6%; Foreign institutions: −1.5 points over 8 quarters, to 21.5%; Promoters: +0.0 points over 8 quarters, to 46.6%. Why the owners changed: foreign institutions moved −1.5 points and domestic institutions +4.4 points over 8 quarters, while promoters stayed about the same. One group of institutions took over shares from the other; it is not a change of mind by the people running the company. ## How far is Glenmark from balance-sheet trouble? For Glenmark Pharmaceuticals Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Glenmark rank in its industry? 69.3 out of 100, rank 4 of 44 in Pharma - Formulators, with 86% of the evidence available. Glenmark Pharmaceuticals Ltd scores 69.3 out of 100 against the 44 companies it is compared with in Pharma - Formulators, ranking 4. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 29.1 + 20.4 + 11.2 + 8.6 = 69.3. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Glenmark compared with? Glenmark ranks 4 of 44 Pharma - Formulators companies on the 4-Factor Sector Score, with 69.3 out of 100. 1. [Rubicon Research Ltd](https://www.sectoralpha.in/stocks/rubicon-research-ltd) RUBICON · leader · Most evidence points up · 83% evidence 71.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.1/35 · Revenue 46.8% · Profit 91.4% · Operating margin change 2 points · 88% evidence Capital efficiency 18.6/25 · ROCE 28.4% · Operating margin 24% · 100% evidence Valuation 6.2/20 · P/E 92.5× · PEG 2.31 · 65% evidence Relative strength 16.5/20 · Lead over its industry 28.1% · Lead over NIFTY 500 53.6% · 1 year 160.5% · 70% evidence · 11 of 12 weeks ahead Exact sum: 30.1 + 18.6 + 6.2 + 16.5 = 71.4 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Kwality Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/kwality-pharmaceuticals-ltd) KPL · breaking out · Most evidence points up · 81% evidence 71.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.9/35 · Revenue 37.9% · Profit 88.4% · Operating margin change 3 points · 88% evidence Capital efficiency 18.0/25 · ROCE 24.1% · Operating margin 25% · 100% evidence Valuation 11.0/20 · P/E 44.2× · PEG 0.54 · 100% evidence Relative strength 12.3/20 · Lead over its industry n/a · Lead over NIFTY 500 74.4% · 1 year 288.9% · 25% evidence · 9 of 9 weeks ahead Exact sum: 29.9 + 18 + 11 + 12.3 = 71.2 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 3. [Accent Microcell Ltd](https://www.sectoralpha.in/stocks/accent-microcell-ltd) ACCENTMIC · leader · Most evidence points up · 65% evidence 70.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.4/35 · Revenue n/a · Profit n/a · Operating margin change 7 points · 27% evidence Capital efficiency 21.5/25 · ROCE 24.9% · Operating margin 24% · 100% evidence Valuation 9.1/20 · P/E 26.9× · PEG n/a · 50% evidence Relative strength 18.6/20 · Lead over its industry 21.4% · Lead over NIFTY 500 47.6% · 1 year 132.1% · 100% evidence · 12 of 12 weeks ahead Exact sum: 21.4 + 21.5 + 9.1 + 18.6 = 70.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. Glenmark Pharmaceuticals Ltd this page GLENMARK · breaking out · Most evidence points up · 86% evidence 69.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.1/35 · Revenue 32.9% · Profit 100% · Operating margin change 2 points · 88% evidence Capital efficiency 20.4/25 · ROCE 39.8% · Operating margin 20% · 100% evidence Valuation 11.2/20 · P/E 20.8× · PEG n/a · 50% evidence Relative strength 8.6/20 · Lead over its industry -11.4% · Lead over NIFTY 500 10.8% · 1 year 21.5% · 100% evidence · 9 of 12 weeks ahead Exact sum: 29.1 + 20.4 + 11.2 + 8.6 = 69.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Ajanta Pharma Ltd](https://www.sectoralpha.in/stocks/ajanta-pharma-ltd) AJANTPHARM · leader · Most evidence points up · 100% evidence 69.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.3/35 · Revenue 25% · Profit 29.8% · Operating margin change 7 points · 100% evidence Capital efficiency 21.1/25 · ROCE 34.5% · Operating margin 31% · 100% evidence Valuation 7.1/20 · P/E 34.7× · PEG 1.77 · 100% evidence Relative strength 10.5/20 · Lead over its industry -3.5% · Lead over NIFTY 500 20% · 1 year 42.3% · 100% evidence · 11 of 12 weeks ahead Exact sum: 30.3 + 21.1 + 7.1 + 10.5 = 69 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Bliss GVS Pharma Ltd](https://www.sectoralpha.in/stocks/bliss-gvs-pharma-ltd) BLISSGVS · leader · Most evidence points up · 82% evidence 67.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.3/35 · Revenue 25% · Profit 43.1% · Operating margin change 8 points · 95% evidence Capital efficiency 14.7/25 · ROCE 16.9% · Operating margin 26% · 76% evidence Valuation 6.4/20 · P/E 42.4× · PEG n/a · 50% evidence Relative strength 16.7/20 · Lead over its industry 59% · Lead over NIFTY 500 86.2% · 1 year 312.8% · 100% evidence · 12 of 12 weeks ahead Exact sum: 29.3 + 14.7 + 6.4 + 16.7 = 67.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Lupin Ltd](https://www.sectoralpha.in/stocks/lupin-ltd) LUPIN · quiet · Most evidence points up · 89% evidence 66.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.9/35 · Revenue 28.2% · Profit 49.2% · Operating margin change 2 points · 88% evidence Capital efficiency 20.4/25 · ROCE 29.9% · Operating margin 30% · 100% evidence Valuation 16.1/20 · P/E 15.4× · PEG 0.54 · 65% evidence Relative strength 2.0/20 · Lead over its industry -24.5% · Lead over NIFTY 500 -4.7% · 1 year 2.4% · 100% evidence · 0 of 12 weeks ahead Exact sum: 27.9 + 20.4 + 16.1 + 2 = 66.4 · What this means: Earnings are strong; relative strength in its sector is -24.5% and the one-year return is 2.4%. 8. [Fredun Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/fredun-pharmaceuticals-ltd) FREDUN · breaking out · Most evidence points up · 76% evidence 65.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 31.9/43.75 · Revenue 50.3% · Profit 91.3% · Operating margin change 0 points · 88% evidence Capital efficiency 19.0/31.25 · ROCE 21.5% · Operating margin 14% · 100% evidence Valuation 14.9/25 · P/E 52.7× · PEG 0.77 · 100% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 31.9 + 19 + 14.9 = 65.8 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: There is no relative-strength reading for this week, so the score is built from earnings, capital efficiency and valuation alone. 9. [Ipca Laboratories Ltd](https://www.sectoralpha.in/stocks/ipca-laboratories-ltd) IPCALAB · turning · Most evidence points up · 78% evidence 65.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.0/35 · Revenue 10.6% · Profit 68% · Operating margin change 6 points · 83% evidence Capital efficiency 15.7/25 · ROCE 17% · Operating margin 24% · 76% evidence Valuation 11.0/20 · P/E 35.6× · PEG n/a · 50% evidence Relative strength 14.7/20 · Lead over its industry -0.5% · Lead over NIFTY 500 23.6% · 1 year 51.7% · 100% evidence · 10 of 12 weeks ahead Exact sum: 24 + 15.7 + 11 + 14.7 = 65.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [Marksans Pharma Ltd](https://www.sectoralpha.in/stocks/marksans-pharma-ltd) MARKSANS · leader · Most evidence points up · 74% evidence 65.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.7/35 · Revenue 19.6% · Profit 48% · Operating margin change 9 points · 88% evidence Capital efficiency 18.3/25 · ROCE 18.8% · Operating margin 25% · 100% evidence Valuation 6.3/20 · P/E 26.8× · PEG 2.85 · 65% evidence Relative strength 11.9/20 · Lead over its industry n/a · Lead over NIFTY 500 40.1% · 1 year 68.4% · 25% evidence · 12 of 12 weeks ahead Exact sum: 28.7 + 18.3 + 6.3 + 11.9 = 65.2 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 11. [FDC Ltd](https://www.sectoralpha.in/stocks/fdc-ltd) FDC · basing · Evidence leans up · 85% evidence 62.7 out of 100 Growth Capital Valuation Relative
12. [Corona Remedies Ltd](https://www.sectoralpha.in/stocks/corona-remedies-ltd) CORONA · turning · Evidence leans up · 73% evidence 62.3 out of 100 Growth Capital Valuation Relative
13. [Emcure Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/emcure-pharmaceuticals-ltd) EMCURE · losing its lead · Evidence leans up · 71% evidence 61.8 out of 100 Growth Capital Valuation Relative
14. [Mankind Pharma Ltd](https://www.sectoralpha.in/stocks/mankind-pharma-ltd) MANKIND · turning · Evidence leans up · 100% evidence 61.0 out of 100 Growth Capital Valuation Relative
15. [Zydus Lifesciences Ltd](https://www.sectoralpha.in/stocks/zydus-lifesciences-ltd) ZYDUSLIFE · leader · Evidence leans up · 96% evidence 59.5 out of 100 Growth Capital Valuation Relative
16. [ERIS Lifesciences Ltd](https://www.sectoralpha.in/stocks/eris-lifesciences-ltd) ERIS · basing · Evidence leans up · 67% evidence 56.1 out of 100 Growth Capital Valuation Relative
17. [Gufic BioSciences Ltd](https://www.sectoralpha.in/stocks/gufic-biosciences-ltd) GUFICBIO · leader · Evidence leans up · 71% evidence 56.0 out of 100 Growth Capital Valuation Relative
18. [Strides Pharma Science Ltd](https://www.sectoralpha.in/stocks/strides-pharma-science-ltd) STAR · breaking out · Evidence leans up · 75% evidence 55.3 out of 100 Growth Capital Valuation Relative
19. [Caplin Point Laboratories Ltd](https://www.sectoralpha.in/stocks/caplin-point-laboratories-ltd) CAPLIPOINT · losing its lead · Evidence leans up · 96% evidence 54.3 out of 100 Growth Capital Valuation Relative
20. [Wockhardt Ltd](https://www.sectoralpha.in/stocks/wockhardt-ltd) WOCKPHARMA · losing its lead · Evidence leans up · 71% evidence 52.9 out of 100 Growth Capital Valuation Relative
21. [Kilitch Drugs (India) Ltd](https://www.sectoralpha.in/stocks/kilitch-drugs-indialtd) KILITCH · breaking out · Evidence leans up · 78% evidence 51.3 out of 100 Growth Capital Valuation Relative
22. [Akums Drugs & Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/akums-drugs-pharmaceuticals-ltd) AKUMS · leader · Evidence leans up · 71% evidence 50.9 out of 100 Growth Capital Valuation Relative
23. [Alembic Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/alembic-pharmaceuticals-ltd) APLLTD · turning · Evidence leans down · 81% evidence 47.9 out of 100 Growth Capital Valuation Relative
24. [Alkem Laboratories Ltd](https://www.sectoralpha.in/stocks/alkem-laboratories-ltd) ALKEM · quiet · Evidence leans down · 78% evidence 47.6 out of 100 Growth Capital Valuation Relative
25. [Bajaj Healthcare Ltd](https://www.sectoralpha.in/stocks/bajaj-healthcare-ltd) BAJAJHCARE · quiet · Evidence leans down · 100% evidence 46.6 out of 100 Growth Capital Valuation Relative
26. [Lincoln Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/lincoln-pharmaceuticals-ltd) LINCOLN · quiet · Evidence leans down · 100% evidence 45.9 out of 100 Growth Capital Valuation Relative
27. [Bharat Parenterals Ltd](https://www.sectoralpha.in/stocks/bharat-parenterals-ltd) BPLPHARMA · breaking out · Too little evidence to rank firmly · 52% evidence 45.9 out of 100 Growth Capital Valuation Relative
28. [Aurobindo Pharma Ltd](https://www.sectoralpha.in/stocks/aurobindo-pharma-ltd) AUROPHARMA · leader · Evidence leans down · 96% evidence 45.6 out of 100 Growth Capital Valuation Relative
29. [Amrutanjan Health Care Ltd](https://www.sectoralpha.in/stocks/amrutanjan-health-care-ltd) AMRUTANJAN · turning · Evidence leans down · 96% evidence 44.9 out of 100 Growth Capital Valuation Relative
30. [RPG Life Sciences Ltd](https://www.sectoralpha.in/stocks/rpg-life-sciences-ltd) RPGLIFE · losing its lead · Evidence leans down · 100% evidence 43.1 out of 100 Growth Capital Valuation Relative
31. [J B Chemicals & Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/j-b-chemicals-pharmaceuticals-ltd) JBCHEPHARM · Too little evidence to rank firmly · 59% evidence 42.4 out of 100 Growth Capital Valuation Relative
32. [Zim Laboratories Ltd](https://www.sectoralpha.in/stocks/zim-laboratories-ltd) ZIMLAB · leader · Evidence leans down · 71% evidence 40.7 out of 100 Growth Capital Valuation Relative
33. [Sun Pharmaceutical Industries Ltd](https://www.sectoralpha.in/stocks/sun-pharmaceutical-industries-ltd) SUNPHARMA · quiet · Evidence leans down · 100% evidence 39.3 out of 100 Growth Capital Valuation Relative
34. [Dr Reddys Laboratories Ltd](https://www.sectoralpha.in/stocks/dr-reddys-laboratories-ltd) DRREDDY · turning · Evidence leans down · 100% evidence 39.3 out of 100 Growth Capital Valuation Relative
35. [Natco Pharma Ltd](https://www.sectoralpha.in/stocks/natco-pharma-ltd) NATCOPHARM · quiet · Evidence leans down · 96% evidence 38.8 out of 100 Growth Capital Valuation Relative
36. [Bafna Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/bafna-pharmaceuticals-ltd) BAFNAPH · breaking out · Evidence leans down · 74% evidence 35.8 out of 100 Growth Capital Valuation Relative
37. [Cipla Ltd](https://www.sectoralpha.in/stocks/cipla-ltd) CIPLA · turning · Evidence leans down · 100% evidence 35.4 out of 100 Growth Capital Valuation Relative
38. [Torrent Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/torrent-pharmaceuticals-ltd) TORNTPHARM · losing its lead · Most evidence points down · 100% evidence 34.4 out of 100 Growth Capital Valuation Relative
39. [Biocon Ltd](https://www.sectoralpha.in/stocks/biocon-ltd) BIOCON · quiet · Most evidence points down · 96% evidence 33.6 out of 100 Growth Capital Valuation Relative
40. [Suven Life Sciences Ltd](https://www.sectoralpha.in/stocks/suven-life-sciences-ltd) SUVEN · quiet · Most evidence points down · 64% evidence 33.1 out of 100 Growth Capital Valuation Relative
41. [Influx Healthtech Ltd](https://www.sectoralpha.in/stocks/influx-healthtech-ltd) INFLUX · quiet · Too little evidence to rank firmly · 42% evidence 49.7 out of 100 Growth Capital Valuation Relative
42. [Syncom Healthcare Ltd](https://www.sectoralpha.in/stocks/syncom-healthcare-ltd) SYNCOM · Too little evidence to rank firmly · 17% evidence 42.3 out of 100 Growth Capital Valuation Relative
43. [Indoco Remedies Ltd](https://www.sectoralpha.in/stocks/indoco-remedies-ltd) INDOCO · losing its lead · Too little evidence to rank firmly · 49% evidence 38.4 out of 100 Growth Capital Valuation Relative
44. [Sai Parenterals Ltd](https://www.sectoralpha.in/stocks/sai-parenterals-ltd) SAIPARENT · turning · Too little evidence to rank firmly · 31% evidence 36.7 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Pharma - Formulators](https://www.sectoralpha.in/sectors/pharma-formulators), all 44 compared on one page. ## Which companies are close to Glenmark in size? Glenmark is the 9th largest of 44 Pharma - Formulators companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Mankind Pharma, Aurobindo Pharma and Lupin. Just below it: Alkem Laboratories, Biocon and Ipca Laboratories. ### Pharma - Formulators companies close in size

1. [Mankind Pharma Ltd](https://www.sectoralpha.in/stocks/mankind-pharma-ltd) ₹1,02,964 crore
2. [Aurobindo Pharma Ltd](https://www.sectoralpha.in/stocks/aurobindo-pharma-ltd) ₹96,744 crore
3. [Lupin Ltd](https://www.sectoralpha.in/stocks/lupin-ltd) ₹91,962 crore
4. Glenmark Pharmaceuticals Ltd ₹64,875 crore
5. [Alkem Laboratories Ltd](https://www.sectoralpha.in/stocks/alkem-laboratories-ltd) ₹61,140 crore
6. [Biocon Ltd](https://www.sectoralpha.in/stocks/biocon-ltd) ₹57,333 crore
7. [Ipca Laboratories Ltd](https://www.sectoralpha.in/stocks/ipca-laboratories-ltd) ₹48,909 crore

[All 44 Pharma - Formulators companies, largest first](https://www.sectoralpha.in/sectors/pharma-formulators#all-companies)

### Companies close in size in other industries

1. [IndusInd Bank Ltd](https://www.sectoralpha.in/stocks/indusind-bank-ltd) ₹65,292 crore · Banks - Private
2. [AU Small Finance Bank Ltd](https://www.sectoralpha.in/stocks/au-small-finance-bank-ltd) ₹64,953 crore · Banks - Small Finance
3. Glenmark Pharmaceuticals Ltd ₹64,875 crore
4. [Dabur India Ltd](https://www.sectoralpha.in/stocks/dabur-india-ltd) ₹64,856 crore · FMCG - Personal Care
5. [ICICI Prudential Life Insurance Company Ltd](https://www.sectoralpha.in/stocks/icici-prudential-life-insurance-company-ltd) ₹64,580 crore · Finance - Insurance

## What else do people ask about Glenmark? ### What is Glenmark's share price today? Glenmark Pharmaceuticals Ltd's share price is ₹2,504.70, +38.3% over the past year. The whole company is worth ₹70,680 Cr on the market. In the last 52 weeks it traded between ₹1,812 to ₹2,515; today it is 99% of the way up from the low, 13.2% above its 200-day average (as of 4 November 2026). ### What were Glenmark's latest quarterly results? Glenmark Pharmaceuticals Ltd reported revenue of ₹4,018 Cr and net profit of ₹483 Cr for the Jun 2026 quarter. Revenue rose 23.1% and profit rose 927.7% compared with a year earlier. Earnings per share were ₹17.11. The operating margin was 20.0%, 2.0 percentage points higher than a year earlier (as of 4 November 2026). ### What is Glenmark's market cap? Glenmark Pharmaceuticals Ltd's market capitalisation is ₹70,680 Cr at a share price of ₹2,504.70. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is Glenmark performing? Glenmark Pharmaceuticals Ltd's share price has been rising for 73 weeks. In its latest quarter, revenue rose 23.1% and profit rose 927.7% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 14 weeks running (as of 4 November 2026). ### Will Glenmark's share price go up? This page does not forecast Glenmark Pharmaceuticals Ltd's share price. What it shows instead: the share price is ₹2,504.70, and it has been rising for 73 weeks. Its P/E of 22.7× is higher than 69% of its own last 11 years (as of 4 November 2026). ### Who owns Glenmark? Promoters own 46.6% of Glenmark Pharmaceuticals Ltd, foreign institutions 21.5%, domestic institutions 17.6% and the public 14.2% (latest quarter). The biggest change over the last two years: Domestic institutions raised their stake by 4.4 percentage points over 8 quarters (as of 4 November 2026). ### Where is Glenmark in its business cycle? Glenmark Pharmaceuticals Ltd's FY26 operating margin was 27.0%, against a 13-year range of 10.0% to 27.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 20.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the Glenmark story? The main question: foreign institutions moved −1.5 percentage points over 8 quarters while the business went the other way. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is Glenmark a stock worth studying right now? What the numbers show: Glenmark Pharmaceuticals Ltd is reporting record margins. The main open question: whether the owners’ moves turn back in line with the business. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ### Is there a Glenmark share price forecast for 2026? What management itself guided: India formulations are expected to grow 12.0% to 15.0% consistently; the typical mix is 6.0% to 7.0% volume, 3.0% new products and 3.0% to 4.0% value. What is changing at Glenmark, from the latest results and calls: balance sheet transformation, zero gross debt, ryaltris multi-market scaling, $100m to $200-250m by fy28 and abbvie isb 2001, beat platform validated as deal-capable technology. What would change the story: April to June 2026 concall reduces operating margin guidance to 21-22% from prior 23%, the 5th guidance revision in 4 concalls, each compounding the credibility discount on future guidance. ## Lists

- Momentum stocks: https://www.sectoralpha.in/momentum-stocks-india
- Small & mid cap stocks: https://www.sectoralpha.in/small-cap-stocks-india
- Pharma stocks: https://www.sectoralpha.in/sectors/pharma-stocks-india

This is research, not advice. We’re not SEBI-registered.