@hitesh2710 bhai,
Can you share your views on Glenmark Life science (GLS)?
The company was listed two years back and haven’t crossed the IPO price yet. However, after making a low of around 360 in March 2023, the stock has run up close to 70% in 3-4 months. Results of last two quarters have been really good for both generic API and CDMO division of their business. They have been reporting good and consistent margins around 30% and with falling raw material prices the management is confident of maintaining the margins at least for this year.
Even after the recent run up the stock seems to be reasonably priced with Mcap/sales around 3 and PE around 16. Parent company Glenmark pharma is in talks with investor to sell their holdings.
Appreciate if you can share your views.
Regards,
Suhag
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