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Cadila Healthcare Q4 Review - India Growth Offsets U.S. Fall: Prabhudas Lilladher

Cadila Healthcare Q4 Review - India Growth Offsets U.S. Fall: Prabhudas Lilladher

<div class="paragraphs"><p>White capsules are displayed for a photograph at a manufactuting plant. (Photographer: Ariana Lindquist/Bloomberg).</p></div>
White capsules are displayed for a photograph at a manufactuting plant. (Photographer: Ariana Lindquist/Bloomberg).

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.

Prabhudas Lilladher Report

Cadila Healthcare Ltd.'s Q4 FY21 sales were in-line, while earnings beat our estimates with contribution of higher-margin products (Covid-19 drugs) in India, which more than offset the shortfall in U.S. generics.

The weak flu season, homebound population in lockdown and price erosion in older products were key reasons for 5% QoQ decline in U.S. sales.

There were however better contributions from India formulations, consumer wellness products and lower marketing overheads helped in maintaining adjusted Ebitda margin at 20.4%.

In addition, 70% reduction in interest cost and higher other operating income helped in normalized profit before tax growth of 5%.

Click on the attachment to read the full report:

Prabhudas Lilladher Cadila Healthcare Q4FY21 Result Update.pdf

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