Granules India - Improved Business Trajectory Fueled By U.S. ANDA Approvals: Motilal Oswal

"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..Motilal Oswal Report.After a lull of abbreviated new drug application approvals in FY22/FY23, the pace of ANDA approvals has picked up for Granules India Ltd.The company has already received three ANDA approvals in FY24 till date (versus four in FY23). It is optimistic about receiving additional approvals in the remaining period of FY24.Also, the recent approvals include certain limited competition products and/or certain products, where Granules India has a competitive edge over its peers in the manufacturing value chain. Accordingly, we expect potential sales of $40 million from recent approvals on an annualised basis. This benefit may be adversely impacted to some extent due to IT security issue. Considering a better outlook for U.S. ANDA business front and ongoing efforts to backward integrate core products such as Paracetamol/Metformin, we remain positive on Granules India. We value Granules India at 13 times 12 months forward earnings to arrive at a price target of Rs 350. We reiterate our 'Buy' rating on the stock..Click on the attachment to read the full report:.Pharma Sector Q1 Results Preview - On A Strong Footing: ICICI 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"

Granules India - Improved Business Trajectory Fueled By U.S. ANDA Approvals: Motilal Oswal

We expect a 17% earnings CAGR, a 12% sales CAGR in Intermediates/API segment, and a 10% CAGR in the formulation segment.

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Granules India - Improved Business Trajectory Fueled By U.S. ANDA Approvals: Motilal Oswal

We expect a 17% earnings CAGR, a 12% sales CAGR in Intermediates/API segment, and a 10% CAGR in the formulation segment.

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