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
Torrent Pharmaceuticals Ltd.'s FY20 Annual Report analysis highlights modest revenue growth of 3.5%, led by decline in the U.S. (4.2%) and Germany (6.1%).
However, businesses in India/Rest of World registered growth of 8.8%/12.8%.
Ebitda margins expanded 150 basis point to 27.3% due to higher gross margins, lower research and development spends (at 6.2% of revenue versus 7.0% in FY19), containment of employee expenses (at 18.0% of revenues versus 18.3% in FY19) with reduced manpower (by 750 people), and capitalisation of part employee expenses during upgradation of the Levittown facility.
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