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Motilal Oswal: Granules India A Quarter Of Record High Revenue Ebitda/PAT  

Motilal Oswal: Granules India A Quarter Of Record High Revenue Ebitda/PAT

Medicinal tablets are arranged for a photograph in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)
Medicinal tablets are arranged for a photograph in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy

Motilal Oswal Report

Post delivering spectacular earnings growth (76% YoY) in FY20, Granules India’s posted strong revenue/Ebitda/Profit after Tax in Q1 FY21. This was led by new launches in formulations (FDs) and better market penetration for intermediates.

We have raised our earning per share estimate by 12%/6% for FY21/22E to factor in (a) the increased FD business on account of Abbreviated New Drug Application (ANDA) launches in the U.S., (b) addition of new molecules in the Active Pharmaceutical Ingredient segment, (c) increased traction in existing products, and (d) improving profitability due to backward integration.

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Motilal Oswal Granules India Result Update.pdf

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