Aurobindo Pharma Q2 Results Review - Margin Outlook Optimistic Led By Better Product Mix: KRChoksey

"BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..KRChoksey Report.Result Highlights of Q2 FY24:For Q2 FY24, Aurobindo Pharma Ltd.'s revenue grew 25.8% YoY and 5.4% QoQ to Rs 72,194 million driven by healthy performance across all the key geographical segments, while for H1 FY24 revenue grew 17.5% YoY to Rs 1,40,699 million.Adjusted Ebitda for the quarter increased 67.7% YoY and 21.9% QoQ to Rs 14,032 million while for H1 FY24, Adj Ebitda increased 41.8% YoY to Rs 25,546 million, primarily led by robust sales, and Adj Ebitda margin expanded 486 basis points YoY and 293 bps QoQ to 19.4% while for H1 FY24 Adj Ebitda margin expanded 311 bps YoY to 18.2%, this is led by low material cost and favorable product mix..Adjusted profit after tax increased by 72.8% YoY and 30.6% QoQ to Rs 7,870 million while for H1 FY24 Adj PAT increased 38.4% YoY to Rs 13,898 million. Adj PAT margin expanded 296 bps YoY and 210 bps QoQ to 10.9% while for H1 FY24 PAT margin expanded 149 bps YoY to 9.9%. This is led by strong operating performance.During the quarter, Aurobindo Pharma free zone limited liability company; Saudi Arabia, step down subsidiary of the company, has entered into an agreement to acquire certain marketing and manufacturing related authorizations for an amount of Rs 3,983 million..The stock is currently trading at 20.6 times/17.0 times of our estimated FY24E/FY25E earning per share. We assign a price/earning multiple of 18.0 times on FY25E EPS of Rs 60.7to arrive at a target price of Rs 1,090 (earlier TP Rs 907) and maintain the recommendation of ‘Accumulate’ on Aurobindo Pharma Ltd, implying an upside of 6.0% from its current market price of Rs 1,030..Click on the attachment to read the full report:.SAIL Q2 Results Review - Strong Production Performance: Yes Securities .DISCLAIMERThis report is authored by an external party. BQ Prime 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 BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner."

Aurobindo Pharma Q2 Results Review - Margin Outlook Optimistic Led By Better Product Mix: KRChoksey

Aurobindo Pharma reported strong numbers on the back of healthy performance from the core geographical segments.

NDTV Profit

NDTV Profit

Follow Us

DOWNLOAD THE APP

Aurobindo Pharma Q2 Results Review - Margin Outlook Optimistic Led By Better Product Mix: KRChoksey

Aurobindo Pharma reported strong numbers on the back of healthy performance from the core geographical segments.

Choose a plan

Follow Us

DOWNLOAD THE APP