Gland Pharma Q3 Results Review - Core Markets Business Drive Earnings: Motilal Oswal

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..Motilal Oswal Report.Gland Pharma Ltd. delivered operationally better-than-expected performance in Q3 FY24. Gland Pharma had robust traction in its core markets. This was, however, offset to some extent by its inferior performance in rest of the world markets. Higher depreciation and tax rates led to lower-than-expected earnings for Q3 FY24. We cut our FY24 earnings estimates by 5% to factor in - A gradual improvement in the profitability of Cenexi, and A subdued sales outlook for the India business over the near term. We value the company at 27 times 12 months forward earnings to arrive at our target price of Rs 2,240..Gland Pharma is implementing efforts to strengthen its base business in the core markets through product launches as well as improving off-take of its existing products. Further, it is also in process to enhance its sales prospects and the profitability of its acquired business (Cenexi). Accordingly, we expect a 20% earnings compound annual growth rate over FY24-26. Reiterate 'Buy'..Click on the attachment to read the full report:.Galaxy Surfactants Q3 Results Review - Specialty Volume Recovery In The Offing: Nirmal Bang.DISCLAIMERThis 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.

Gland Pharma Q3 Results Review - Core Markets Business Drive Earnings: Motilal Oswal

Gradual revival in the overall performance.

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