Ipca Labs - Clearance Of Ratlam API Site To Uplift The U.S. Prospects: Motilal Oswal

BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.Ipca Laboratories Ltd. has received a voluntary action indicated classification from the U.S. Food and Drug Administration for its Ratlam active pharme ingredient and Silvassa formulation plant. The U.S. business was at a standstill since Ipca Labs had an import alert from the U.S. FDA across its sites since CY15.The considerable remediation measures have finally led to the revival of the US generics business for Ipca. We expect a gradual pick-up of the existing U.S. operations, which will also pave the way for new approvals.  Another key event over the near term is the U.S. FDA classification of its Pithampur formulation site. We value Ipca Labs at 28 times 12 months forward earnings to arrive at our target price of Rs 860. We expect 27% earnings compound annual growth rate over FY23-25 given the low base of FY23 (elevated opex) and revival in the generics business. We reiterate our 'Neutral' rating as the earnings upsides over the next two-three years are adequately factored in at current valuation..Click on the attachment to read the full report:.Atul Q2 Results Review - No Green Shoots Visible; Maintain 'Sell': Dolat Capital.DISCLAIMERThis report is authored by an external party. BQ Prime 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 BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Ipca Labs - Clearance Of Ratlam API Site To Uplift The U.S. Prospects: Motilal Oswal

Pithampur classification – another near-term monitorable.

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Ipca Labs - Clearance Of Ratlam API Site To Uplift The U.S. Prospects: Motilal Oswal

Pithampur classification – another near-term monitorable.

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