Ipca Labs Q4 Results Review: Dolat Capital Maintains 'Add', Revises Target Price

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Dolat Capital Report

Ipca Laboratories Ltd.'s Q4FY25 sales were above estimates, while Ebitda was below due to lower gross margin and higher than expected other expenses.

For FY26, the company guided consolidated sales growth of 8-10% and Ebitda margin of 20% along with capex of Rs 4 billion.

We downgrade our FY26E/FY27E EPS estimates by 9.2%/8.3%, assuming lower sales and higher depreciation.

Maintain ‘Accumulate’ rating at 30x FY27 P/E with a revised target price of Rs 1,604.

Key risks: Compliance issues, seasonal impact due to acute portfolio and any disturbance in the supply chain within the export markets.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.