Projected Income Statement: GlaxoSmithKline Pharmaceuticals Limited

Forecast Balance Sheet: GlaxoSmithKline Pharmaceuticals Limited

Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028
Net Debt -25,363 -16,656 - - - - -
Change - 34.33% - - - - -
Announcement Date 16/5/22 17/5/23 17/5/24 13/5/25 13/5/26 - -
Estimates

Cash Flow Forecast: GlaxoSmithKline Pharmaceuticals Limited

Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 346.4 440.4 312.2 230.2 552.8 500 612.7
Change - 27.14% -29.11% -26.27% 140.14% -9.55% 22.53%
Free Cash Flow (FCF) 1 7,761 4,402 5,508 12,669 8,480 12,004 13,176
Change - -43.28% 25.12% 130.02% -33.06% 41.55% 9.76%
Announcement Date 16/5/22 17/5/23 17/5/24 13/5/25 13/5/26 - -
1INR in Million
Estimates

Forecast Financial Ratios: GlaxoSmithKline Pharmaceuticals Limited

Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028

Profitability

       
EBITDA Margin (%) 25.24% 24.73% 26.31% 31.4% 34.26% 34.79% 36.08%
EBIT Margin (%) 23.16% 22.71% 24.29% 29.62% 32.52% 34.38% 36.08%
EBT Margin (%) 23.77% 25.72% 23.63% 33.6% 36.79% 36.79% 37.91%
Net margin (%) 51.7% 18.78% 17.08% 24.74% 27.11% 27.3% 28.33%
FCF margin (%) 23.68% 13.54% 15.95% 33.79% 22.19% 28.23% 27.93%
FCF / Net Income (%) 45.8% 72.08% 93.36% 136.58% 81.86% 103.38% 98.6%

Profitability

       
ROA - - - - - - -
ROE 81.85% 27.73% 33.53% 49.75% 49.11% 44.33% 42.17%

Financial Health

       
Leverage (Debt/EBITDA) - - - - - - -
Debt / Free cash flow - - - - - - -

Capital Intensity

       
CAPEX / Current Assets (%) 1.06% 1.35% 0.9% 0.61% 1.45% 1.18% 1.3%
CAPEX / EBITDA (%) 4.19% 5.48% 3.44% 1.96% 4.22% 3.38% 3.6%
CAPEX / FCF (%) 4.46% 10% 5.67% 1.82% 6.52% 4.17% 4.65%

Items per share

       
Cash flow per share 1 - - - - - - -
Change - - - - - - -
Dividend per Share 1 30 32 32 42 57 29.5 29.5
Change - 6.67% 0% 31.25% 35.71% -48.25% 0%
Book Value Per Share 1 157.2 102.8 104.9 115.2 133.8 156 185.7
Change - -34.61% 2.1% 9.76% 16.19% 16.58% 19.03%
EPS 1 100 36.05 34.83 54.76 61.15 68.52 78.88
Change - -63.96% -3.38% 57.22% 11.67% 12.06% 15.1%
Nbr of stocks (in thousands) 169,406 169,406 169,406 169,406 169,406 169,406 169,406
Announcement Date 16/5/22 17/5/23 17/5/24 13/5/25 13/5/26 - -
1INR
Estimates
2027 *2028 *
P/E 38x 33x
PBR 16.7x 14x
EV / Sales 10.4x 9.34x
Yield 1.13% 1.13%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
-
Global
-
Quality
-
ESG MSCI
-
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
4
Last Close Price
2,601.00INR
Average target price
3,081.00INR
Spread / Average Target
+18.45%

Quarterly revenue - Rate of surprise

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