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Prabhudas Lilladher Report
Torrent Pharmaceuticals Ltd.’s revenue growth across key branded generic markets were healthy which is likely to sustain. Further price hike in branded generic business and cost optimisation steps have aided margins.
Torrent Pharma’s high exposure to branded generic business (~70% of total revenues) and chronic therapies provides comfort.
Going ahead, timely resolution of plants will pickup revenue growth in U.S. and benefit operating leverage. We expect 21% earnings per share compound annual growth rate over FY22-24E. Our FY23 and FY24E EPS broadly remains unchanged.
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