Torrent Pharma Q1 Results Review - Margins To Sustain: Prabhudas Lilladher

"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..Prabhudas Lilladher Report.Torrent Pharmaceuticals Ltd.’s Q1 FY24 Ebitda was largely inline, however profit after tax was above our estimate led by lower tax and higher other income. Our FY24 and FY25E earnings per share stands increased by ~5% as we factor in higher gross margins and lower tax. Torrent Pharma has Rs 70 billion (75% of total sales) worth of highly profitable branded formulation sales spread across India, Brazil and rest of world markets. Curatio acquisition has been scaling up well with 700 basis points margin improvement since acquisition. Historically Torrent Pharma has successfully managed to integrate Unichem and Elder acquisition which gives us comfort. We expect 18% Ebitda compound annual growth rate and 31% profit after tax CAGR over FY23-25E. Maintain ‘Buy’ rating with revised target price of Rs 2,250/share, 20 times enterprise value/Ebitda to FY25E..Click on the attachment to read the full report:.Torrent Pharma Q1 Results Review - Steady Outperformance In Branded Generics Market: Motilal Oswal.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."

Torrent Pharma Q1 Results Review - Margins To Sustain: Prabhudas Lilladher

High double digit growth from Curatio portfolio with scale up in margins.

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Torrent Pharma Q1 Results Review - Margins To Sustain: Prabhudas Lilladher

High double digit growth from Curatio portfolio with scale up in margins.

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