Ipca Labs - Q4 An Aberration; Outlook Remains Intact: Motilal Oswal
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Motilal Oswal Report
Ipca Laboratories Ltd.’s Q4 FY21 performance was below expectations, weighed by moderation in the domestic formulation segment and active pharmaceutical ingredient sales.
However, the company remains on track to deliver healthy mid-teen YoY growth in the branded generics segment.
Increased business share from the integrated manufacturing value chain and better operating leverage in domestic formulation would drive improvement in profitability going forward – adjusted for onetime business from hydroxychloroquine sulfate in FY21.
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