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.
Prabhudas Lilladher Report
Torrent Pharmaceuticals Ltd.'s Q3 FY24 Ebitda/profit after tax was largely in-line. Our FY25/ FY26E Ebitda stands increased by ~3%. The company reported Rs 70 billion (75% of total sales) worth of highly profitable branded formulation sales spread across India, Brazil and rest of the world markets.
Curatio acquisition has been scaling up well with sharp margin improvement since acquisition. Historically Torrent Pharma has successfully managed to integrate Unichem and Elder acquisition, which gives us comfort.
We expect 17% Ebitda compound annual growth rate and 30% profit after tax CAGR over FY24-26E.
Maintain ‘Buy' rating with revised target price at Rs 2,700 valuing at 20 times enterprise value/Ebitda as we roll forward.
Click on the attachment to read the full report:
DISCLAIMER
This 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.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
