Divi’s Labs Q4 Review - Strong Performance Continues: ICICI Securities
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ICICI Securities Report
Divi’s Laboratories Ltd. reported Q4 FY21 performance marginally higher than our estimates.
Consolidated revenue grew 28.7% YoY to Rs 17.9 billion (our estimate: Rs 17.0 billion), Ebitda margin improved 810 basis points YoY to 40.1% (our estimate: 40.5%) and profit after tax grew 29.3% to Rs 5.0 billion (our estimate: Rs 4.9 billion).
The growth was driven across generic active pharmaceutical ingredients and contract research and manufacturing service businesses.
Strong positioning of the company will help in monetising the growth opportunity in API and CRAMS space given its stellar execution track record and being one of the preferred suppliers.
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