BQ Blue’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 BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Gland Pharma Ltd.’s Q1 FY22 performance was ahead of our expectation, led by robust revenue growth across all geographies.
It is progressing well on scaling up manufacturing of the Covid-19 vaccine. It is concurrently developing products/undertaking capex related to complex product as well as enhancing its geographical diversification.
We raise our FY22E/FY23E earnings per share estimate of Gland Pharma by 8% each to factor in:
increased reach as well as penetration in the rest of world/India markets,
better outlook for the U.S. market,
higher offtake of Remdesivir/Enoxaparin, and
continued manufacturing efficiency driving better operating leverage.
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