Published on 12/08/2017 11:36:40 AM | Source: Angel Broking Pvt Ltd

We maintain our Sell rating on Cadila Healthcare Ltd 1QFY2018 Results - Angel Broking

Below is the View On Cadila Healthcare Ltd 1QFY2018 Results by Ms. Sarabjit Kour Nangra (VP Research- Pharma, Angel Broking):  

“Cadila Healthcare posted poor set of numbers, sales came in at INR 2,136cr V/s INR 2,216cr expected V/s INR 2,500cr in 1QFY2017, a YoY de-growth of 3.6%, mainly driven by the Indian formulation sales dip. Indian formulation sales (INR 637.4cr), a YoY dip of 18.9%. Its key market USA (INR 965cr), 13.8% YoY growth. On operating front, the EBITDA margins came in at 10.1% V/s 18.4% expected V/s 20.4% in 1QFY2017, mainly on back of lower than expected sales during the quarter and a 20.0% and 25.3% rise in the employee and R&D expenses respectively. Gross margins came in at 61.2% V/s 65.1% in 1QFY2017; while R&D expenses were 9.5% of sales in 1QFY2018 V/s 7.3% of sales in 1QFY2017. Thus, the PAT came in at INR 138 cr V/s INR 492cr expected V/s INR 355cr in 1QFY2017. We maintain our SELL rating on the stock, with a price target of INR 426.”


Click here to open demat account                           


For More Angel Broking Pvt Ltd Disclaimer   


Above views are of the author and not of the website kindly read disclaimer