Eris Lifesciences - The Pharma Brand Master: Motilal Oswal Initiates Coverage
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Motilal Oswal Report
In just 14 years (founded in 2007), Eris Lifesciences Ltd. has built a pure-play branded formulation business, with a revenue of Rs 13 billion. Notably, its profit after tax has nearly doubled to Rs 3.5 billion during FY16–21.
Eris Lifesciences ranks among the top 25 Indian companies in revenue terms. The company has presence across the value chain in developing, manufacturing and marketing of branded pharma products in select chronic therapies (the fastest growing company in chronic category), such as anti-diabetes (37% of sales), cardiac care (31% of sales), and vitamins/minerals/nutrients (23% of sales).
We expect a 17% earnings compound annual growth rate for Eris Lifesciences over FY21–24 versus marginal earnings growth during FY18–21.
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