22 May 2023 , 09:47 AM
Result date: 26th May, 2023
Recommendation: Buy
Target price: Rs. 1,150
Analysts at IIFL Capital Services expect Sun Pharmaceutical Industries (Sun Pharma) to post a strong show for the March 2023 quarter. While sequential sales growth could decline owing to Halol import alert; the same is likely to be offset by ramp-up in the Specialty business and Taro. Global Specialty revenue is pegged at $225 million in Q4 versus $222 million in Q3 (ex-milestones).
The company’s EBITDA margin could expand 193 basis points over the year-ago quarter.
Profit After Tax (PAT) growth is estimated at 20% as compared to the year-ago quarter, though it could decline 12% sequentially.
March 2023 estimates |
YoY change |
QoQ change |
|
Revenue (Rs. mn) |
106,325 |
13% |
(4)% |
EBITDA (Rs. mn) |
26,050 |
23% |
(9)% |
EBITDA margin (%) |
24.5% |
193 bps |
(132) bps |
Profit After Tax (Rs. mn) |
18,980 |
20% |
(12)% |
Source: IIFL Research
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