ICICI Direct: Torrent Pharma - Q2 Revenues In-Line; Better-Than-Expected Ebitda Margins
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
Torrent Pharmaceuticals Ltd. Q2 revenues remained flattish, growing a mere 0.6% YoY to Rs 2,017 crore (our estimate Rs 2,086 crore) mainly due to 13.9% YoY decline in U.S. formulations to Rs 327 crore.
Domestic sales grew 7.1% YoY to Rs 963 crore. Brazil de-grew 17.3% YoY to Rs 129 crore. Germany business grew 4.4% YoY to Rs 261 crore.
Ebitda margins expanded 450 basis points YoY to 31.5% (our estimate 30.0%) mainly due to lower other expenses amid likely lower travel and promotional spends due to Covid-19.
Click on the attachment to read the full report:
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.