Nirmal Bang: Sequent Scientific - Emerging Market Growth Outpaces Expectations
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Nirmal Bang Report
Sequent Scientific Ltd.’s Q2 FY21 revenue at Rs 3,463 million was higher than our estimate by 9.8%.
Revenue grew by 21.8% YoY and 11.6% QoQ and was led by strong growth in the Emerging Markets and active pharmaceutical ingredient sales.
EM growth (135% QoQ) was led by the integration of Zoetis portfolio and revival in demand from the Poultry segment.
Poultry demand had been subdued on account of Covid-19 concerns.
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