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
Aurobindo Pharma Ltd. delivered in-line quarter at operational level. The company posted strong YoY growth in the anti-retroviral/rest of world segments and reported growth in the U.S. segment despite intensified competitive environment.
We cut our earnings per share estimates by 9%/3% for FY23/FY24, respectively, to factor in:
moderation in the Europe outlook,
higher operational cost and
lower other income.
We remain positive on Aurobindo Pharma aided by its:
strong abbreviated new drug application pipeline comprising limited competition products in oncology, biosimilars, topicals, transdermal patches, etc. and
ongoing efforts to improve the profitability of the Europe business.
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