Sun Pharma Q3 Results Review - Inline Operational Performance: Nirmal Bang

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..Nirmal Bang Report.Sun Pharmaceutical Industries Ltd.'s reported Q3 FY24 revenue and margins largely in line with our estimates, with a beat on profitability due to lower tax outgo. Revenue grew by ~10% YoY on the back of growth across major geographies and ramp-up in the global specialty portfolio. Ebitda margin increased by 88 basis points YoY to 28.1% as strong gross margin was largely offset by higher operational overheads. We remain positive about Sun Pharma due to the following catalysts: Ramp-up of branded/specialty business in the U.S. (recently acquired Deuroxolitinib would further strengthen the Specialty pipeline). Continued growth in India business. Potential inorganic opportunity given the strong balance sheet, especially in dermatology, ophthalmology and oncology specialties. Maintenance of healthy Ebitda margin at ~28% despite higher research and development spends. We maintain 'Buy' with a revised target price of Rs 1,653, valuing it at 28 times Decembers 25E earnings per share of Rs 59..Click on the attachment to read the full report:.Max Healthcare Q3 Results Review - Healthy Growth Despite Seasonality, High Base: Prabhudas Lilladher.DISCLAIMERThis 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.

Sun Pharma Q3 Results Review - Inline Operational Performance: Nirmal Bang

We maintain 'Buy' for Sun Pharma with a revised target price of Rs 1,653, valuing it at 28 times Decembers 25E earnings per share of Rs 59.

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Sun Pharma Q3 Results Review - Inline Operational Performance: Nirmal Bang

We maintain 'Buy' for Sun Pharma with a revised target price of Rs 1,653, valuing it at 28 times Decembers 25E earnings per share of Rs 59.

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