Ipca Labs Q2 - Strong Domestic Formulation Business Offset By Weak Exports, API Performance: Motilal Oswal

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..Motilal Oswal Report.Ipca Laboratories Ltd. delivered an in-line Q2 FY22 at the operational level, but earnings were below expectations due to higher depreciation / tax rate for the quarter. The strong show in the domestic formulation segment was offset, to a large extent, by the muted exports formulation and active pharma ingredient segments, which dragged down Ipca Labs' margins on a YoY as well as QoQ basis. While we expect the domestic formulation business to sustain the robust growth momentum over the medium term, we reduce our FY22E/FY23E earnings share by 6%/3%, factoring in:near-term challenges in the active pharma ingredient business,elevated key starting materials/logistic costs, and moderation in the export formulations business outlook..Click on the attachment to read the full report:.DISCLAIMERThis 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 author entity 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.

Ipca Labs Q2 - Strong Domestic Formulation Business Offset By Weak Exports, API Performance: Motilal Oswal

Ipca Labs Q2 - Strong Domestic Formulation Business Offset By Weak Exports, API Performance: Motilal Oswal

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