Ipca Labs Q2 Results Review - Negatives Priced In: Dolat Capital

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. .Dolat Capital Report.Ipca Laboratories Ltd.’s revenues were at Rs 16 billion (inline), grew 3.7% YoY/flattish QoQ. Ebitda after adjusting forex stood at Rs 2.7 billion (below estimate), declined 21.3% YoY and Ebitda margin at 17.0% (below estimate) contracted 539 bps YoY on account of higher energy cost, higher marketing expenses and recruitment of additional field force. Profit after tax after adjusting forex stood at Rs 1.5 billion (below estimate), declined by 35% YoY mainly on back of lower operating performance. Domestic formulation revenue grew 10% YoY in Q2 FY23 mainly due to decline of 19% YoY in anti-malarial sales. Growth was 13% YoY ex antimalarial sales led by traction across therapies. Pain management grew 21% YoY. Ipca's export formulations grew 15% YoY in Q2 FY23 led by branded generic segment which grew by 33% YoY..Click on the attachment to read the full report:.IPCA Laboratories Q2 Results: Profit Falls, Misses Estimates.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 Q2 Results Review - Negatives Priced In: Dolat Capital

post sharp correction in stock we believe worst case is captured in price with margin bottoming out.

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