Glaxosmithkline Pharmaceuticals Ltd logo

Glaxosmithkline Pharmaceuticals Ltd

GLAXO NSE

GlaxoSmithKline Pharmaceuticals research, manufacture and make available a broad range of medicines and vaccines that benefit people.(Source : Company Web-site)

AI Verdict: HOLD Confidence: 5%

GlaxoSmithKline Pharma offers exceptional ROE of 46% and a debt-free balance sheet, but the stock trades at a steep 37.1x PE and 16.94x book value with only 2% TTM sales growth. The 27% price correction in the past year reflects market concerns about expensive valuations relative to modest single-digit revenue growth.

Key Fundamentals

MidcapPharmaceuticalsHealthcare
Market Cap
₹40,205 Cr
Volatility
Moderate
P/E Ratio
38.51
EBITDA
₹1,455 Cr
Return on Equity
33.19%
Debt to Equity
0.01
Book Value
₹133.85
EPS
₹45.47
52W High
₹3,500
52W Low
₹2,088.1

Technical Indicators

Key Insights

Strengths

3
  • Company is almost debt free.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 43.5%
  • Company has been maintaining a healthy dividend payout of 94.6%

Weaknesses

2
  • Stock is trading at 17.7 times its book value
  • The company has delivered a poor sales growth of 5.49% over past five years.

Growth Rate

Revenue Growth
1.85% ↗
Net Income Growth
11.69% ↗
Cash Flow Change
-29.97% ↘
ROE
-3.89% ↗
ROCE
-3.30% ↗
EBITDA Margin (Avg.)
7.95% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
HOLD
Risk medium

GlaxoSmithKline Pharma offers exceptional ROE of 46% and a debt-free balance sheet, but the stock trades at a steep 37.1x PE and 16.94x book value with only 2% TTM sales growth. The 27% price correction in the past year reflects market concerns about expensive valuations relative to modest single-digit revenue growth.

Bull Case 7
  • Exceptional return on equity at 46% last year and 43% 3-year average, indicating highly efficient capital deployment
  • Virtually debt-free balance sheet provides financial resilience and flexibility for future investments or acquisitions
  • Healthy dividend payout ratio of 94.6% with current yield of 2.52%, attractive for income-oriented investors in pharma space
  • Compounded profit growth of 18% over 3 years significantly outpaces sales growth, demonstrating strong margin expansion
  • 75% of analysts (3 out of 4) rate the stock a Buy, reflecting positive consensus on long-term fundamentals
  • 10-year compounded profit growth of 10% shows consistent long-term earnings delivery across market cycles
  • MNC parentage (GSK Plc) provides access to global pipeline, R&D capabilities, and strong corporate governance standards
Bear Case 8
  • Stock has declined 27% in the past 1 year, signaling significant negative momentum and potential value trap risk
  • Trading at 16.94x price-to-book is extremely expensive, well above pharma sector averages of 4-6x
  • TTM sales growth of only 2% is barely above inflation, indicating near-stagnant topline performance
  • 5-year sales CAGR of just 5% reflects structural challenges in driving revenue growth in a competitive Indian pharma market
  • PE ratio of 37.1x is demanding given the low single-digit sales growth trajectory, leaving little room for disappointment
  • 10-year stock CAGR of only 3% has significantly underperformed broader market indices like Nifty which delivered 10-12% CAGR
  • Limited analyst coverage with only 4 total ratings suggests low institutional interest relative to market cap of Rs 38,975 crore
  • 5-year stock CAGR of 9% lags the 15% compounded profit growth over the same period, indicating persistent PE de-rating

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Headwinds 1
  • Compliance Officer resigns May 29

    Dr. Simrat Sohal resigns as Compliance Officer effective August 5, 2026, to pursue external opportunities. Loss of key governance personnel creates a temporary gap in compliance oversight.

Positives 2
  • ₹57 per share dividend declared Jun 02

    GSK Pharma recommended a dividend of ₹57 per share for FY26. The 101st AGM is scheduled for June 30, 2026, reflecting strong shareholder returns.

  • GHG emissions cut 10.32% Jun 05

    BRSR filing reveals a 10.32% reduction in GHG emissions and CSR spending of ₹1,859.48 Lakhs for FY26, signaling commitment to sustainability goals.

Neutral 2
  • FY26 annual report released Jun 08

    GSK Pharma released the weblink for its FY26 annual report. Payments are withheld for shareholders with unverified KYC.

  • BRSR report filed for FY26 Jun 05

    GlaxoSmithKline Pharmaceuticals filed its Business Responsibility and Sustainability Report for FY26, a routine regulatory compliance filing.

TL;DR: GSK Pharma demonstrates steady capital returns with a healthy ₹57/share dividend and improving ESG metrics including a 10.32% GHG reduction. The Compliance Officer resignation is a minor governance concern but not structurally significant. No major operational headwinds are visible in recent newsflow. The trend remains stable with the upcoming AGM on June 30 as the next catalyst for any forward guidance.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
787
762
957
805
930
815
1,011
949
974
805
980
1,041
995
Expenses
618
618
668
587
673
584
689
658
641
554
644
670
644
Operating Profit
170
144
289
218
257
231
322
292
333
251
336
371
351
OPM %
22%
19%
30%
27%
28%
28%
32%
31%
34%
31%
34%
36%
35%
Other Income
38
54
28
-135
32
36
39
35
41
44
36
50
36
Interest
1
0
0
0
1
0
0
0
1
0
1
1
1
Depreciation
17
16
18
17
18
16
17
19
15
16
17
20
13
PBT
190
181
299
65
271
249
344
308
359
279
354
400
373
Tax %
30%
27%
27%
30%
28%
27%
27%
25%
27%
27%
27%
26%
26%
Net Profit
133
132
218
46
194
182
252
230
263
205
257
296
278
EPS in Rs
7.88
7.81
12.84
2.7
11.48
10.76
14.91
13.57
15.52
12.1
15.2
17.45
16.4
Figures in ₹ Crores

Profit & Loss

  Mar 2015 15mMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
3,305
2,838
2,908
2,871
3,128
3,224
2,926
3,278
3,252
3,454
3,749
3,822
Expenses
2,672
2,360
2,489
2,363
2,527
2,567
2,327
2,516
2,447
2,545
2,570
2,512
Operating Profit
633
478
420
508
601
657
598
762
804
909
1,179
1,309
OPM %
19%
17%
14%
18%
19%
20%
20%
23%
25%
26%
31%
34%
Other Income
149
125
119
70
131
-262
9
1,401
103
-21
149
166
Interest
0
0
0
0
1
6
4
2
2
2
1
3
Depreciation
25
25
27
38
49
83
79
68
66
70
67
66
PBT
756
578
511
540
683
306
525
2,093
839
816
1,260
1,406
Tax %
37%
35%
34%
35%
35%
70%
32%
19%
27%
28%
26%
26%
Net Profit
476
376
337
351
445
93
358
1,695
611
590
928
1,036
EPS in Rs
28.12
22.2
19.88
20.7
26.29
5.5
21.14
100
36.05
34.83
54.75
61.15
Div. Payout %
111%
113%
75%
85%
76%
727%
142%
90%
89%
92%
99%
93%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
85
85
85
85
169
169
169
169
169
169
169
169
Reserves
1,744
2,099
1,922
1,973
1,970
1,651
1,309
2,494
1,572
1,608
1,782
2,098
Borrowings
3
2
2
1
1
0
35
20
16
19
10
33
Other Liabilities
1,384
869
995
1,889
1,771
1,315
1,602
1,950
1,570
1,760
2,147
2,023
Total Liabilities
3,216
3,055
3,004
3,947
3,911
3,136
3,115
4,633
3,327
3,557
4,108
4,324
Fixed Assets
123
204
258
325
432
758
387
331
330
321
284
281
CWIP
115
268
605
923
1,003
120
13
30
20
14
14
33
Investments
0
6
0
0
0
0
0
366
518
813
1,118
1,392
Other Assets
2,977
2,577
2,140
2,700
2,477
2,257
2,715
3,907
2,458
2,408
2,692
2,618
Total Assets
3,216
3,055
3,004
3,947
3,911
3,136
3,115
4,633
3,327
3,557
4,108
4,324
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
338
139
234
473
409
490
578
811
484
582
1,290
903
Investing
180
499
301
-104
-153
-57
418
-406
808
9
-46
397
Financing
-497
-638
-511
-307
-358
-428
-696
-524
-1,543
-562
-769
-737
Net Cash Flow
21
0
24
62
-102
6
300
-119
-251
29
475
563
Free Cash Flow
175
-69
-24
639
166
336
536
2,371
451
573
1,273
870
CFO/OP
93
72
94
133
101
103
121
122
93
92
116
93
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
11
16
21
19
14
11
27
23
22
23
28
26
Inventory Days
91
156
111
147
131
135
159
144
131
144
126
124
Days Payable
74
97
73
149
109
100
135
156
122
171
186
154
Cash Conversion Cycle
27
75
60
17
36
46
50
11
31
-4
-31
-4
Working Capital Days
-48
26
7
-90
-72
-38
-39
-94
-57
-64
-99
-91
ROCE %
42%
29%
22%
26%
31%
33%
38%
37%
36%
51%
63%
61%

Shareholding Pattern

As of Mar 2026
Promoters 75.00%
Public 10.35%
DIIs 7.68%
FIIs 4.62%
Others 2.35%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
3.48%
4.02%
4.36%
4.50%
4.52%
4.89%
4.80%
4.64%
4.62%
DIIs
5.31%
5.51%
5.50%
5.61%
5.61%
4.08%
10.45%
10.28%
10.30%
10.23%
10.01%
8.53%
7.90%
7.50%
7.34%
7.30%
7.79%
7.70%
7.75%
7.70%
7.68%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.01%
0.01%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
11.02%
10.86%
10.83%
10.67%
10.41%
10.41%
10.40%
10.56%
10.54%
10.57%
10.62%
11.08%
11.27%
11.15%
10.97%
10.96%
10.60%
10.32%
10.34%
10.36%
10.35%
Others
8.67%
8.62%
8.67%
8.73%
8.98%
10.51%
4.15%
4.16%
4.16%
4.20%
4.37%
5.38%
2.35%
2.33%
2.33%
2.23%
2.09%
2.09%
2.11%
2.30%
2.35%
No. of Shareholders
1,19,951
1,20,476
1,21,445
1,23,480
1,10,141
1,12,964
1,16,651
1,20,127
1,20,415
1,19,032
1,15,266
1,14,663
1,18,994
1,18,515
1,19,228
1,19,625
1,21,885
1,23,629
1,22,904
1,22,460
1,21,763

Documents

Frequently Asked Questions about Glaxosmithkline Pharmaceuticals Ltd

What does Glaxosmithkline Pharmaceuticals Ltd do?
GlaxoSmithKline Pharmaceuticals research, manufacture and make available a broad range of medicines and vaccines that benefit people.(Source : Company Web-site)
Where is Glaxosmithkline Pharmaceuticals Ltd (GLAXO) listed?
Glaxosmithkline Pharmaceuticals Ltd is listed on the Indian stock exchanges. It is listed on NSE: GLAXO and BSE: 500660. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Glaxosmithkline Pharmaceuticals Ltd belong to?
Glaxosmithkline Pharmaceuticals Ltd operates in the Healthcare sector within the Pharmaceuticals & Biotechnology industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Glaxosmithkline Pharmaceuticals Ltd?
Glaxosmithkline Pharmaceuticals Ltd has a market capitalisation of approximately ₹40205.13 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Glaxosmithkline Pharmaceuticals Ltd?
The Price-to-Earnings (PE) ratio of Glaxosmithkline Pharmaceuticals Ltd is 38.51. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Glaxosmithkline Pharmaceuticals Ltd?
Over the past 52 weeks, Glaxosmithkline Pharmaceuticals Ltd has traded between a low of ₹2,088.1 and a high of ₹3,500. This range helps investors understand the stock's price volatility and recent trading levels.
Does Glaxosmithkline Pharmaceuticals Ltd pay dividends?
Yes, Glaxosmithkline Pharmaceuticals Ltd has a dividend yield of 2.41%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Glaxosmithkline Pharmaceuticals Ltd?
Glaxosmithkline Pharmaceuticals Ltd has a Return on Equity (ROE) of 33.19%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Glaxosmithkline Pharmaceuticals Ltd on Tapetide?
On Tapetide, you can view Glaxosmithkline Pharmaceuticals Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

GlaxoSmithKline Pharmaceuticals research, manufacture and make available a broad range of medicines and vaccines that benefit people.(Source : Company Web-site)

Website gsk-india.com
CEO Mr. Bhushan Akshikar
Employees 3,113
Listed 2000-12-15
Face Value ₹ 10
Issued Size 16,94,06,034

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