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Dolat Capital Report
Suven Pharmaceuticals Ltd. reported soft Q2. Revenues declined 13% YoY (flattish QoQ) with Ebitda margins at 41% (down 500 basis points YoY and 600 basis points QoQ).
Lower revenues from specialty chemicals segment impacted margins. Further, lower profit share from Rising Pharma also impacted profits (down 20% YoY and QoQ).
Nonetheless, management reiterated its guidance of 15% growth in top-line and 15-20% growth in bottom-line with Ebitda margins at 40% plus for FY21.This implies a robust H2.
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