Perspective on Sun Pharmaceutical Ltd Q2FY23 Results by Anmol Das, Teji Mandi
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Below is perspective on Sun Pharmaceutical Ltd Q2FY23 Results update by Mr Anmol Das, Head of Research, Teji Mandi
1. It is the EBITDA which has really outperformed in terms of expectation so the EBITDA is up around 12.5%. Importantly, last quarter as well it was positive show in margins for Sun Pharma and that seems to have continued in this quarter as well and this is seen in numbers where the company reported 27% and the estimates were around 25%.
2. Hence, the operating performance is something which has really surprised positively and that has reflected into the profit as well (+8.2%) because despite the higher base, the company managed to report good profit numbers.
3. Company's specialty sales has been showing a lot of momentum and this is showing in company's revenue numbers which are very much in line.
4. What we like about these numbers is that despite weak performance from Taro (Sun Pharma's US unit) this quarter the company has managed to report healthy numbers and is able to beat estimates.
5. Sun Pharma had a forex gain of Rs 241 crore this quarter which also helped it report healthy performance and margins improvement.
6. Overall, a good set of earnings by Sun Pharma.
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