Investec has initiated coverage on Glenmark Pharmaceuticals with a “FAST long” recommendation, setting a target price of Rs 1900, which implies a 17.6% upside from the previous close of Rs 1615.
The brokerage expects both earnings momentum and cash flow generation to support the company’s ongoing re-rating. A key near-term trigger is the Aurangabad facility receiving zero observations, which is significant as it houses critical respiratory products, including gFlovent MDI and other nasal sprays.
Investec views Glenmark primarily as a player in the India and Rest of the World (Branded Generic) markets, which together contribute over 70% of its EBITDA. With the stock currently valued at 23 times the estimated EPS for September 2026, it is considered to be an attractive investment opportunity.
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