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.
Dolat Capital Report
Despite Torrent Pharmaceutical Ltd.'s in-line revenue growth of 5% YoY, 32% Ebitda margins, profit after tax was restricted at Rs 3.3 billion due to moving annual total credit recognition, leading to 20% miss versus our earnings estimate.
Sluggishness in sales continue to be led by muted exports performance.
U.S. at $36 million was lowest quarterly sales in last four years (29% YoY decline), Brazil (up 9% YoY) and Europe (up 6% YoY) coupled with India (18% YoY growth) led to 5% revenue growth.
High single digit price erosion in the U.S., absence of export incentives and adverse product mix (high contribution from acute sales) impacted Torrent Pharma's gross margins by 160 basis points YoY at 72.3%.
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