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.
ICICI Direct Report
Ipca Laboratories Ltd.'s Q1 FY22 results were better than our estimates mainly driven by strong YoY sales growth in domestic formulations and institutional exports.
Revenue remained almost flat growing just 2.0% YoY to Rs 1565 crore.
Ipca's strong YoY growth of 31.4% in institutional exports to Rs 116 crore along with 25.2% YoY growth in domestic formulations to Rs 613 crore were offset by active pharma ingredient sales decline of 19.3% YoY to Rs 414 crore.
Beat vis-a-vis our estimates was witnessed across segments Ebitda margins declined 1174 basis points YoY to 26.6% due to lower gross margins and higher other expenditure.
Subsequently, Ebitda de-grew 29.2% YoY to Rs 416 crore while profit after tax de-grew 31.3% YoY to Rs 306 crore.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint 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 BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR