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ICICI Direct Report
Divi’s Laboratories Ltd.’s revenues grew 21.0% YoY to Rs 1,749 crore (our estimate Rs 1,679 crore).
Generic segment grew 25.9% YoY to Rs 883 crore. Custom synthesis grew 18.1% YoY to Rs 700 crore. Carotenoids grew 9.9% YoY to Rs 167 crore.
Ebitda margins expanded 843 basis points YoY to 42.4% (our estimate 36.5%) due to significantly better gross margin performance and lower other expenditure.
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