Who are Glenmark Pharmaceuticals's main competitors?

Named competitors: Cipla (CIPLA.NS), Lupin (LUPIN.NS), Torrent Pharmaceuticals (TORNTPHARM.NS), Sun Pharmaceutical (SUNPHARMA.NS), Alembic Pharmaceuticals (APLLTD.NS). The cockpit's measured peer set (industry) also includes Alkermes Public (ALKS), Praxis Precision Medicines (PRAX), Rhythm Pharmaceuticals (RYTM), Corcept Therapeutics (CORT), Grifols (GRF.MC), Cytokinetics (CYTK).

How has Glenmark Pharmaceuticals stock performed?

Over six months to 6 Nov 2026 the shares returned +9.2% against +11.7% for the median peer; over one year +37.6%.

← CockpitCompetitor Analysis › GLENMARK.NS Glenmark PharmaceuticalsOpen in the cockpit ↗

Glenmark PharmaceuticalsGLENMARK.NSCompetitor analysis, valuation and peers

India · INR·Pharma & Healthcare›Pharmaceuticals: Major

Indian pharma maker of branded generics in emerging markets and US generics, focused on respiratory, dermatology and diabetes.

≈ India's smaller Teva with a biologics spin-offMomentum leader 85

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$7.73B

US dollars, full cap

Free float

51%

of shares outstanding

$/day

$21.4M

20-day average traded

Fwd P/E

32.0×

forward earnings

ROIC−WACC

+12.5 pp

WACC 13.1%

Hurdle

+11 pp

Req g minus delivered

Next earnings

91 days

5 Feb 2027

Close · INR₹2,590

1D+4.4%

1W+12.7%

1M+13.5%

3M+14.1%

6M+9.2%

YTD+27.3%

1Y+37.6%

ATR %3.5%

Beta0.90

52w lowhigh3.5% off high

What Glenmark Pharmaceuticals does

Indian pharma maker of branded generics in emerging markets and US generics, focused on respiratory, dermatology and diabetes.

Sells branded and generic medicines, with India and emerging markets giving the steadier income and US generics adding volume. In 2023 it sold most of its active-ingredient business, Glenmark Life Sciences, to Nirma. A blood-cancer antibody from its innovation arm, Ichnos, was licensed to AbbVie in 2025.

In one line: India's smaller Teva with a biologics spin-off.

Products and services

India branded formulations
US generics
Emerging markets branded generics
Respiratory (inhalers)

Customers

Indian retail pharmacies
US distributors/pharmacies
Emerging-market hospitals

Where it sits in the supply chain

Pharmaceuticals
Branded generics + US generics
Respiratory/dermatology specialty

What could go right

US generic approvals
Respiratory/derma brand growth in India

What could go wrong

US pricing pressure
Debt from biologics R&D spend

Moat: narrow (brand, distribution). Established respiratory/dermatology brands in India and a filed US generics pipeline.

Headquarters: Mumbai, India · Founded: 1977 · Employees: 17,782

Named competitors

Cipla CIPLA.NS
Lupin LUPIN.NS
Torrent Pharmaceuticals TORNTPHARM.NS
Sun Pharmaceutical SUNPHARMA.NS
Alembic Pharmaceuticals APLLTD.NS

Glenmark Pharmaceuticals at a glance

Size Glenmark Pharmaceuticals (GLENMARK.NS) is an India Health Care company (Pharmaceuticals: Major) with a market value of $7.73B, the 147th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹2,590 on 6 Nov 2026.

Performance Over six months the shares gained 9.2%, against +11.7% for the median peer and 0.0% for the India market (cap-weighted) — 11th highest of 21 in its peer set.

Growth Revenue grew 32.9% over the last twelve months (peer median +9.9%); the operating margin is 20.2% (peer median 16.4%).

Valuation It trades at 32.0× forward earnings against a peer median of 16.0× (6th most expensive of 15).

Price implies For today's price to make sense, revenue must grow about 20% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is +11 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.

Capital Return on invested capital runs 12.5 points above its cost of capital (13.1% WACC).

Next results Next results expected around 5 Feb 2027 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: Glenmark Pharmaceuticals against the median of its 20 peers (local-currency closes).

Glenmark Pharmaceuticals financials

Reported figures in INR; fiscal year ends 2026-03-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	₹177B	₹170B	₹133B	₹118B	₹116B
Revenue growth	—	+27%	+13%	+2%	—
Gross profit	₹83.9B	₹74.6B	₹48.2B	₹32.6B	₹36.3B
EBITDA	₹42.1B	₹40.2B	₹23.8B	₹12.3B	₹16.7B
Net income	₹18.0B	₹13.6B	₹10.5B	-₹15.0B	₹2.97B
Free cash flow	n/a	₹19.4B	-₹17.3B	-₹16.6B	-₹2.71B
Capital expenditure	n/a	₹13.6B	₹7.51B	₹9.15B	₹6.08B
Total debt	n/a	₹5.94B	₹24.7B	₹12.3B	₹46.1B

Quarterly statements and history in the cockpit →

Glenmark Pharmaceuticals competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. Glenmark Pharmaceuticals is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Glenmark Pharmaceuticals is the large dot.

Capital: growth delivered against growth the price implies

Above the diagonal = the price needs more growth than the company has been delivering; below = the price already allows for a slowdown. Glenmark Pharmaceuticals is the large dot.

Glenmark Pharmaceuticals competitors and peer comparison

Head to head with its named competitors (GLENMARK.NS vs CIPLA.NS vs LUPIN.NS vs TORNTPHARM.NS)
Company	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g
Glenmark Pharmaceuticals GLENMARK.NS	$7.73B	+9%	+33%	20%	32.0×	20.0%
Cipla CIPLA.NS	$12.1B	+4%	-1%	13%	29.0×	28.2%
Lupin LUPIN.NS	$9.65B	-19%	+24%	24%	20.9×	8.8%
Torrent Pharmaceuticals TORNTPHARM.NS	$19.1B	+9%	+42%	22%	72.2×	37.9%
Sun Pharmaceutical Industries SUNPHARMA.NS	$47.3B	+1%	+12%	23%	35.4×	28.4%
Alembic Pharmaceuticals APLLTD.NS	$2.01B	+24%	+20%	12%	24.4×	25.0%

How Glenmark Pharmaceuticals compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Glenmark Pharmaceuticals against its 20 peers (data as of 6 Nov 2026)
Measure	GLENMARK.NS	Peer median	Rank in peer set
1-month return	+13.5%	+3.2%	7th highest of 21
6-month return	+9.2%	+11.7%	11th highest of 21
Distance from 52-week high	-3.5%	-13.8%	2nd highest of 21
Revenue growth (TTM)	+32.9%	+9.9%	5th highest of 20
Operating margin	20.2%	16.4%	7th highest of 19
Forward P/E	32.0×	16.0×	6th most expensive of 15
Growth the price implies (Req g, 7 yrs)	20.0%	7.2%	5th most demanding of 15
Growth delivered (Del g)	+9.4%	+9.0%	7th highest of 15
Hurdle (Req g minus delivered)	+10.7 pp	-6.5 pp	4th most demanding of 15
ROIC minus cost of capital	+12.5 pp	+1.9 pp	5th highest of 20
EV / EBITDA	17.4×	15.3×	6th most expensive of 12
Net debt / EBITDA	-0.1×	0.1×	7th least indebted of 13

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
Glenmark Pharmaceuticals GLENMARK.NS	India	$7.73B	+9%	+33%	20%	32.0×	20.0%	+9.4%
Alkermes Public ALKS	United States	$7.71B	+31%	+15%	5%	n/a	31.5%	+7.3%
Praxis Precision Medicines PRAX	United States	$7.75B	-16%	-100%	n/a	n/a	n/a	n/a
Rhythm Pharmaceuticals RYTM	United States	$7.78B	+19%	+61%	-67%	n/a	n/a	n/a
Corcept Therapeutics CORT	United States	$7.96B	+39%	+30%	12%	16.4×	24.9%	+16.6%
Grifols GRF.MC	Spain	$7.49B	+23%	0%	16%	13.0×	6.8%	+7.1%
Cytokinetics CYTK	United States	$7.46B	-30%	-21%	-1,046%	n/a	n/a	n/a
H. Lundbeck A/S HLUN-A.CO	Denmark	$8.02B	+47%	+9%	27%	n/a	-9.1%	+6.6%
Kyowa Kirin 4151.T	Japan	$8.05B	+4%	+10%	24%	15.6×	-6.1%	+9.3%
Asymchem Laboratories (Tianjin) 002821.SZ	China	$8.07B	+23%	+18%	17%	41.4×	n/a	n/a
Kiniksa Pharmaceuticals International KNSA	United States	$7.37B	+60%	+58%	14%	61.7×	9.9%	+45.5%
ALK-abello A/S ALK-B.CO	Denmark	$8.14B	-5%	+17%	27%	35.7×	7.6%	+12.6%
Bachem BANB.SW	Switzerland	$7.32B	+3%	+5%	19%	33.1×	n/a	n/a
Huadong Medicine 000963.SZ	China	$7.29B	-17%	+2%	9%	14.0×	-2.7%	+5.3%
Shanghai Pharmaceuticals 601607.SS	China	$8.32B	-2%	+4%	3%	11.4×	-10.0%	+8.1%
Amneal Pharmaceuticals AMRX	United States	$7.01B	+53%	+9%	17%	17.7×	15.2%	+8.7%
ONO Pharmaceutical 4528.T	Japan	$7.01B	+2%	-2%	22%	14.7×	-8.2%	+10.8%
Protagonist Therapeutics PTGX	United States	$8.54B	+33%	+35%	21%	48.4×	47.5%	+10.0%
RemeGen 9995.HK	Hong Kong	$6.92B	-31%	+293%	61%	7.4×	-4.8%	+57.9%
Shanghai Fosun Pharmaceutical (Group) 2196.HK	Hong Kong	$8.69B	-10%	+10%	6%	10.4×	20.5%	+5.8%
Oruka Therapeutics ORKA	United States	$6.81B	+59%	n/a	n/a	n/a	n/a	n/a

Questions

Who are Glenmark Pharmaceuticals's main competitors?: Named competitors: Cipla (CIPLA.NS), Lupin (LUPIN.NS), Torrent Pharmaceuticals (TORNTPHARM.NS), Sun Pharmaceutical (SUNPHARMA.NS), Alembic Pharmaceuticals (APLLTD.NS). The cockpit's measured peer set (industry) also includes Alkermes Public (ALKS), Praxis Precision Medicines (PRAX), Rhythm Pharmaceuticals (RYTM), Corcept Therapeutics (CORT), Grifols (GRF.MC), Cytokinetics (CYTK).
Is Glenmark Pharmaceuticals expensive compared with its peers?: On forward p/e it trades at 32.0× against a peer median of 16.0×, 6th most expensive of 15 in its peer set. For today's price to make sense, revenue must grow about 20% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is +11 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
How has Glenmark Pharmaceuticals stock performed?: Over six months to 6 Nov 2026 the shares returned +9.2% against +11.7% for the median peer; over one year +37.6%.