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ICICI Securities Report
Abbott India Ltd.'s Q1 FY21 performance was strong and it also beat our estimates on all fronts.
Revenue grew 6.5% YoY to Rs 10.6 billion (our estimate Rs 9.5 billion), Ebitda margin grew 450 basis points YoY and 750 basis points QoQ to 21.9% (our estimate14.5%) and adjusted profit after tax grew 54.2% YoY to Rs 1.8 billion (our estimate Rs 1.1 billion).
We believe this growth was supported by the Novo Nordisk India Pvt. Ltd. portfolio in the challenging environment.
We expect pressure in the near term with uncertain elements however, we remain positive on the company considering high visibility of strong growth with its exposure exclusively in domestic formulations, strong balance sheet with deep cash reserves, high return ratios and strong brand equity built over the years.
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This report is authored by an external party. BloombergQuint 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 brokerage and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
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