Views on Alembic Pharmaceutical 3QFY2014 results - Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP - Research - Pharma, Angel Broking) on Alembic Pharmaceutical 3QFY2014 results:

"For 3QFY2014, Alembic Pharmaceutical, delivered numbers much above expectations. The net sales in at Rs. 484cr V/s Rs. 420cr expected, registering a yoy growth of 31.3%. The growth was driven by the exports which posted sales of Rs. 1493cr V/s Rs. 761cr, registering a yoy growth of 96.1%.The domestic sales on the hand posted sales of Rs. 2570cr V/s Rs. 2277cr, registering a yoy growth of 12.9%, with domestic formulation growth of 15% yoy. The company's OPM's came in at 21.0% V/s 16.6% expected posting an expansion of 226bps. While the operating profits grew by 47.2% yoy, higher taxation during the quarter, lead the company to post net profit growth of 35.3% yoy to end the period at Rs. 65.4cr V/s expectation of Rs. 45cr. We maintain our Neutral rating on the stock."

Source : Equity Bulls

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