Ipca Laboratories’ Growth Momentum Continues Across Segments In Q3: Prabhudas Lilladher  
A researcher handles apparatus inside a laboratory. (Photographer: Gilles Sabrie/Bloomberg)

Ipca Laboratories’ Growth Momentum Continues Across Segments In Q3: Prabhudas Lilladher  

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Prabhudas Lilladher Report

Ipca Laboratories Ltd. Q3 FY21 revenue was in-line with our estimate, however there was an Ebitdam beat of 250 basis points due to continued lower marketing expense.

The company reaffirmed its growth guidance for FY22-23E with -

1. India formulations back at 10-12%,

2. active pharmaceutical ingredient at 12-14% led by new capacity,

3. Export generics at 15%-16%

4. Strong order book from institutional clients based on new product approvals (injectable and DT drugs) and

5. reported Ebitdam of 26-27% for FY22-23.

Click on the attachment to read the full report:

Prabhudas Lilladher IPCA labs Q3FY21 Result Update.pdf

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