Sun Pharma - Global Specialty Sales To Get A Boost From Addition Of Australian Geography: DRChoksey

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..DRChoksey Research Report.We expect the Sun Pharmaceutical Industries Ltd.’s global specialty segment sales growth to get a boost from the recent additional marketing approval for Winlevi in Australia. We therefore increase Sun Pharma’s sales and net income estimates to 10.9% and 16.0% compound annual growth rate, respectively from 10.6% and 15.3% CAGR, respectively. We also increase the valuation multiple by 10% to 32 times on FY26E earnings per share. The company has been seeing steady growth in revenue and net income over the last few quarters on the back of strong growth witnessed in specialty revenue, which now corresponds to 19.2% of overall sales as of Q3 FY24 versus 16.5% it was in Q3 FY23 and 16.4% it was in Q2 FY24 and market outperforming growth in Indian pharma market.The stock is currently trading at 39.8 times/32.5 times/27.1 times of our estimated FY24E/FY25E/FY26E EPS. We assign a price/earning multiple of 32.0 times (earlier 29.0 times) on FY26E EPS of Rs 57.1 to arrive at a target price of Rs 1,827 (earlier target price Rs 1,627) and maintain Buy on it, as the upside potential is 18.2% from its current market price of Rs 1,546..Click on the attachment to read the full report:.Jefferies Initiates Coverage On Kaynes, Syrma, Highlights India EMS As 'Sunrise Sector'.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.

Sun Pharma - Global Specialty Sales To Get A Boost From Addition Of Australian Geography: DRChoksey

Sun Pharma has announced that the Australian Therapeutic Goods Administration has granted regulatory approval for Winlevi (clascoterone cream 1%).

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