GSK Pharmaceuticals (India)
MNC pharma with a high-margin India branded portfolio and a fast-growing premium vaccines franchise; asset-light, dividend-rich model.
A full research profile for one company — what it does, how its financials have trended, how the market values it, and a balanced bull/bear/base investment memo.
Scan the top row for the headline numbers, read the charts for trends, check the three gauge scores, then read the auto-generated memo at the bottom. Sources for every figure are linked at the very bottom.
- EBITDA
- — Earnings before interest, tax, depreciation & amortisation — a proxy for operating cash profit.
- PAT
- — Profit After Tax — the bottom-line net profit.
- FCF
- — Free Cash Flow — cash left after running the business and capital spending.
- ANDA
- — Abbreviated New Drug Application — the US FDA filing to sell a generic drug.
Revenue
₹ crore · FY
EBITDA
₹ crore · FY
Margins
EBITDA & PAT margin %
R&D Spend
₹ crore · FY
Free Cash Flow
₹ crore · FY
Revenue Mix
By geography / segment
Quality Score
Growth Score
Regulatory Risk
Snapshot
Business Model
How the company makes money
India arm of GSK: vaccines (Shingrix, Boostrix), specialty & general-medicines branded portfolio.
Premium vaccines (Shingrix) + price/mix
Narrow portfolio & parent transfer pricing
Peer Group
Click to compare
| Peer | Rev CAGR | EBITDA% | ROCE | P/E |
|---|---|---|---|---|
| GSK Pharmaceuticals (India) | 8% | 31% | 63% | 38x |
| Abbott India | 10% | 26% | 46% | 36x |
| Pfizer (India) | -4% | 33% | 24.2% | 27x |
| Eris Lifesciences | 14% | 35% | 14% | 31x |
Investment Memo
Auto-generated from the data layer — illustrative, not advice
- • Premium vaccines (Shingrix) + price/mix underpins a 8% 5Y revenue CAGR.
- • Premium 31% EBITDA margin with 63% ROCE signals durable economics.
- • Clean balance sheet (D/E 0.00) funds growth internally.
- • Narrow portfolio & parent transfer pricing.
- • Pricing/NLEM exposure on the domestic book can cap realisation.
- • Valuation at 38x P/E prices in continued execution — little margin for error.
GSK Pharmaceuticals (India) screens as a high-quality domestic formulations franchise. With revenue of ₹3.7K Cr growing ~8% and 31% EBITDA margins, the base case is steady compounding driven by premium vaccines (shingrix) + price/mix, while watching narrow portfolio & parent transfer pricing.
Trades at 38x P/E, 35.0x EV/EBITDA and 16.3x P/B. A premium to the sector — justified only if growth and returns hold.
- 1 India IPM outperformance & chronic mix
- 2 Gross-margin trajectory & new-launch contribution
- 3 R&D productivity (filings/approvals per ₹ of R&D)
- 4 Capital allocation — capex payback & M&A discipline
India-only MNC, ~100% domestic, no US/ANDA. Very high ROE/ROCE (43%/63%), ~99% payout, debt-free.