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
We recently met the management of Ipca Laboratories Ltd. to understand its business outlook in detail:
The domestic formulation segment continues on its robust growth path, led by market share gain, favorable price hikes, addition of medical representatives, and its increased presence particularly in the cardiology segment.
Ipca Labs' exports opportunity is expected to improve with increased product launches in the UK, new launches and market share gain in Russia, and industry outperformance in Africa branded generics market.
After 18% YoY decline in earnings in FY22, we expect 11% earnings compound annual growth rate over FY22- 24, led by 13%/8%/8% sales CAGR in domestic formulation, exports formulations, and active pharma ingredient, respectively.
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