Dishman Pharma - 4QFY2013 Result Review - Angel Broking

Dishman reported below the expectations numbers during the quarter. The net sales came in at Rs. 345cr V/s expectation of Rs. 358cr, reporting a dip of 1.3%. The dip was mainly lead by the other segments, while CRAMS was mostly flat. The OPM came in at 20.9% V/s expectation of 22.9% contracting by 260bp yoy. As a result, net profit dipped by 40.6% yoy to Rs. 18.6cr V/s Rs. 28.6cr.

We maintain our buy with a target of Rs. 206.

Source : Equity Bulls

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