Dolat Capital: Torrent Pharma Q2 Revenue In-Line With Estimates, Priced To Perfection  
An employee scoops up tablet cores for inspection at a pharmaceutical plant. (Photographer Hannelore Foerster/Bloomberg)

Dolat Capital: Torrent Pharma Q2 Revenue In-Line With Estimates, Priced To Perfection  

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Dolat Capital Report

In Q2 FY21, Torrent Pharmaceuticals Ltd. reported muted performance in its key export markets – U.S. (20% YoY decline), Brazil (17% YoY decline, primarily due to currency depreciation) while India (7% YoY growth) aided in flattish revenues for the quarter, in-line with our estimates.

However, Ebitda margin at 31.5% were marginally better than expected led by controlled fixed costs.

With field activities resuming normalcy (approximately 75- 80% in both Indian and Brazilian market), we expect cost structure to normalise in next two quarters.

Click on the attachment to read the full report:

Dolat Capital Torrent Pharma Q2FY21 Result Update.pdf


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