Views on IPCA Labs 4QFY2014 results - Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research - Pharma, Angel Broking) on Ipca Labs 4QFY2014 results :

"Ipca labs, posted results, above expectation on the net profit , but posted sales lower than expected. On the sales front, the Ipca Laboratories, posted sales of Rs. 740cr V/s expected Rs. 854cr for 4QFY2014, posting a growth of 12.3% yoy. The growth of the market was driven by formulations , which grew by 16% yoy, while the API grew by only 2% yoy. The domestic sales grew by 7.9% yoy, while exports grew by 14.5% yoy. The OPM, came in at 23.3% V/s 23.7% expected, expanding by 370bp yoy. Inspite of the same, the adjusted net profit is expected to grow by 57.6% yoy, on back of top-line growth. We recommend an accumulate on the stock, a price target of Rs. 888."

Ipca Labs (CMP: Rs. 788/ TP: - Rs. 888/ Upside: 12.6)

Shares of IPCA LABORATORIES LTD. was last trading in BSE at Rs.810.55 as compared to the previous close of Rs. 808.7. The total number of shares traded during the day was 11829 in over 791 trades.

The stock hit an intraday high of Rs. 815 and intraday low of 805. The net turnover during the day was Rs. 9590263.

Source : Equity Bulls

Keywords