Q2FY24 Preview: Divi's Laboratories: Revenue seen at Rs. 19,128 million, PAT at Rs. 4,216 million

2 Nov 2023 , 10:28 AM

Result date: November 6, 2023

Recommendation: Reduce

Target price: Rs. 3,055

Analysts at IIFL Capital Services expect Divi’s Laboratories to post 3% growth in revenue as compared to the year-ago quarter. They are baking in Nil contribution from Molnu in the September 2023 quarter versus USD 37 million in the year-ago quarter. Ex-Molnu CS revenue could grow 45% as compared to the year-ago quarter, owing to depressed base of last year.

Profit After Tax or PAT is likely to decline 15% over the year-ago quarter.

Rs. Million	September 2023 estimates	YoY change	QoQ change
Revenue	19,128	3.1%	7.6%
EBITDA	6,025	(3.0)%	19.6%
EBITDA margin (%)	31.5%	(199) bps	315 bps
Profit After Tax	4,216	(14.6)%	18.4%

Source: IIFL Research