Divi’s Labs Q4 Review - On A Stellar Growth Trajectory: Motilal Oswal
Capsules fall into a collection bin at a drug manufacturing plant in Goa (Photographer: Dhiraj Singh/Bloomberg)

Divi’s Labs Q4 Review - On A Stellar Growth Trajectory: Motilal Oswal

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Motilal Oswal Report

Divi's Laboratories Ltd. delivered in line Q4 FY21 earnings.

It ended FY21 on a strong note, with 29%/57%/54% YoY growth in sales/Ebitda/profit after tax.

New product development, ongoing capex, and strong prospects in custom synthesis (CS) provides confidence that the momentum in earnings growth will sustain over the next two to three years.

We have raised our FY22E/FY23E earnings per share estimate by 4% each to reflect:

  • scale-up in CS projects,
  • enhanced capacity for active pharmaceutical ingredients in the generics segment, and
  • better profitability on account of backward integration.

Click on the attachment to read the full report:

Motilal Oswal Divis Labs Q4FY21 Result Update.pdf

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