Torrent Pharma Q4 Results Review - Another Quarter Of Strong Margins: Prabhdas Lilladher

Prabhudas Lilladher Report

Torrent Pharmaceuticals Ltd.’s Q4 FY24 Ebitda/profit after tax was largely in-line. Our FY25/ FY26E Ebitda broadly remains unchanged. Torrent Pharma reported Rs 80 billion (75% of total sales) worth of highly profitable branded formulation sales spread across India, Brazil and rest of 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 16% Ebitda CAGR and 30% PAT CAGR over FY24-26E. Maintain ‘Buy’ rating with revised target price at Rs 2,900 valuing at 22 times enterprise value/Ebitda on FY26E.

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.