ICICI Direct: Natco Pharma’s One-Offs Drive Q2 Numbers  
An employee scoops up tablet cores for inspection at a pharmaceutical plant. (Photographer Hannelore Foerster/Bloomberg)

ICICI Direct: Natco Pharma’s One-Offs Drive Q2 Numbers  


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.

ICICI Direct Report

Natco Pharma Ltd.’s Q2 FY21 revenues grew an exceptional 65.2% YoY to Rs 802 crore on the back of 91.3% YoY growth in export formulations to Rs 482 crore and 193.7% growth in active pharmaceutical ingredients to Rs 200 crore.

Domestic formulations de-grew 11.2% YoY to Rs 108 crore due to continued impact on Hep-C sales and oncology segment due to lower hospitalisation rate amid the pandemic.

Ebitda margins improved 680 basis points YoY to 34.5% due to better operating leverage.

Click on the attachment to read the full report:

ICICI Direct Natco Pharma Q2FY21 Result Update.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.