Glenmark Pharma Share Price Target 2026, 2027, 2028, 2029, 2030
- Market Cap
- ₹64,271 Cr
- Book Value
- ₹372.7
- Stock P/E
- 20.6
- Dividend Yield
- 0.22%
- ROE
- 30.5%
- ROCE
- 39.8%
- PEG Ratio
- 0.80
- EV/EBITDA
- 12.0
Fundamentals from Screener.in, as of 5 Aug 2026. Live price via Yahoo Finance.
Glenmark Pharma share price today
Glenmark Pharmaceuticals (NSE: GLENMARK) spent a decade as the cautionary tale — innovation dreams funded by debt — and has emerged as something the market half-believes: a deleveraged (D/E 0.06) company whose innovation arm finally produced a global validation. The AbbVie partnership for ISB-2001, its blood-cancer candidate from the Ichnos platform, brought a large upfront and up to billions in milestones — the kind of external endorsement Indian pharma innovation almost never receives.
The result: 39.8% ROCE, 30.5% ROE, and a stock still at 20.6× with a PEG of 0.8. Tagged accumulate in our universe. Here’s the case, and its caveats.
The re-rating that’s only half done
Three businesses live here. The India branded franchise (respiratory, dermatology — Telma is a flagship) compounds steadily. The global generics/branded mix has been pruned toward profitability rather than scale. And Ichnos-Glenmark Innovation — the piece the market wrote down to zero for years — now carries the AbbVie deal’s economics and a pipeline behind it. Profit grew at 25.7% annually over five years through the clean-up; margins (27% OPM) now resemble quality pharma, not a leveraged experiment.
Watch-items: milestone-dependency (deal income is lumpy and binary), FDA compliance history (Glenmark’s record has scars), sustaining India-business growth, and whether management resists re-leveraging for the pipeline.
The numbers
From our research universe snapshot (5 Aug 2026):
| Metric | Value |
|---|---|
| Market cap | ₹64,271 Cr |
| P/E (TTM) | 20.6 |
| EV/EBITDA | 12.0 |
| Operating margin | 27.0% |
| ROE / ROCE | 30.5% / 39.8% |
| Debt to equity | 0.06 |
| Sales CAGR (5y) | 9.2% |
| Profit CAGR (5y) | 25.7% |
| Promoter holding | 46.7% (zero pledged) |
| EPS (TTM) | ₹108.1 |
Glenmark Pharma share price target 2026 to 2030
EPS base ₹108.1 (TTM — includes deal economics; scenarios haircut accordingly). Bear: milestones stall and base business carries alone — 5% growth, multiple at 15×. Base: India compounds and milestones trickle — 11% growth at 19×. Bull: ISB-2001 advances and innovation gets priced — 15% growth at 25×.
| Year | Bear (15×, +5%) | Base (19×, +11%) | Bull (25×, +15%) |
|---|---|---|---|
| 2026 | ₹1,700 | ₹2,280 | ₹3,110 |
| 2027 | ₹1,790 | ₹2,530 | ₹3,575 |
| 2028 | ₹1,875 | ₹2,810 | ₹4,110 |
| 2029 | ₹1,970 | ₹3,120 | ₹4,725 |
| 2030 | ₹2,070 | ₹3,465 | ₹5,435 |
From ₹2,225, the base case is ≈ +56% over four and a half years; the bear is roughly −7%. The spread is tighter than our growth names because the starting multiple is modest — that’s the appeal: at 20×, you are not paying for the innovation story, only collecting if it works. Classic accumulate arithmetic.
Reasons to own Glenmark (at the right price)
- PEG 0.8 with 40% ROCE — quality metrics at a value multiple.
- The balance-sheet repair is done: D/E 0.06 removes the historic bear case.
- AbbVie’s ISB-2001 deal is external validation of the innovation platform — with milestone economics attached.
- The India branded business is a steady compounder beneath the story.
- Accumulate-tagged in our universe: the price still argues with the progress.
The risks: milestone income is lumpy and can vanish on trial data, US FDA history warrants humility, and base-business growth (9.2% five-year sales CAGR) is modest without the innovation kicker.
Should you buy at the current price?
The live buy range below is for members — our actual accumulation zone.
FAQ
What is the Glenmark share price target for 2030? Base case ≈ ₹3,465 (19× on 11% compounded growth), bear ≈ ₹2,070, bull ≈ ₹5,435. Arithmetic above.
What is ISB-2001? A trispecific antibody for multiple myeloma from Glenmark’s Ichnos innovation platform — partnered with AbbVie in a deal carrying a large upfront and milestone ladder, the strongest external validation an Indian-discovered molecule has received.
Is Glenmark still highly indebted? No — the deleveraging is complete (debt-to-equity 0.06). That transformation is much of why the stock re-rated.
When are Glenmark’s next results? Track the exact date on our results calendar.
This article is research and education, not personalised investment advice. We are not SEBI-registered advisers. Price targets are scenario arithmetic, not promises. Do your own research and consult a registered adviser before acting.