Motilal Oswal: Aurobindo Pharma’s Formulations, Superior Product Mix Drive Q2 Earnings
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Motilal Oswal Report
Aurobindo Pharma Ltd. delivered better-than-expected Ebitda, led by -
- strong off-take in the anti-retroviral / growth market segment,
- revival in Europe sales,
- steady ramp-up in U.S. sales, and
- better gross margins.
Increased research and development spend, to some extent, affected profitability for the quarter.
We tweak our earning per share estimate for the company for FY21/FY22, factoring in - 1) a superior product mix, 2. a higher spend on complex product development, and 3. higher other income.
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