Among the large-caps in our coverage universe, for 4QFY2013, Sun Pharma is likely to clock 20.2% yoy growth on the sales front (Rs. 2,800cr), led by both exports and domestic sales. The OPM would decline by 200bp to around 42.9%. The net profit is likely to grow 21.5% yoy during the quarter (Rs. 997cr).
We are neutral on the stock.
