Biocon - Q4FY2013 Result Update - Nirmal Bang

- Results were below expectations

- Sales grew by meagerly 3.3% yoy to Rs 630 cr

- EBITDA margins declined both on qoq as well as yoy basis to 16.7% from 25.3% yoy/22.3% qoq

- PAT of Rs 248.6 cr included exceptional item of Rs 201.9 cr. Adjustiong same PAT declined by 52% yoy

- Stock is trading at 18.8x P/E on FY13 EPS

Source : Equity Bulls

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