Motilal Oswal: Alkem Labs - Improved Traction In India, Controlled Opex Drives Q2 Earnings
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Motilal Oswal Report
Alkem Laboratories Ltd. delivered better-than-expected Q2 FY21 performance led by domestic formulations and lower opex.
The U.S. generics segment has been largely steady due to less launches in Q2 FY21.
The company remains vigilant of sales outlook and has subsequently calibrated operational cost, particularly in the domestic formulations segment.
We have tweaked our earning per share estimates for FY21/FY22E to factor in continued benefit of lower operating cost in FY21 and higher tax rate for FY22E.
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