Natco Pharma Q1 Review - Weak Quarter; India Business Recovers: ICICI Securities

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. .ICICI Securities Report.Natco Pharma Ltd.’s Q1 FY22 performance was below estimates with a miss in exports and active pharma ingredient revenues. However, India business recovered well with recovery in oncology business and upside from Covid-19 related portfolio. Revenue declined 27.2% to Rs 4.1 billion while adjusted profit after tax dropped 38.9% to Rs 750 million (our estimate: Rs 928 million). Ebitda margin was also down 360 basis points YoY to 26.8% due to lower revenue. Continued pressure on domestic oncology segment, though recovering sequentially and weak exports sales were key reasons for Natco Pharma's weak quarter. However, this doesn’t change the FY22-FY23 outlook materially in terms of key product opportunities like Revlimid, Nexavar, Everolimus, etc. .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.

Natco Pharma Q1 Review - Weak Quarter; India Business Recovers: ICICI Securities

Natco Pharma Q1 Review - Weak Quarter; India Business Recovers: ICICI Securities

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