Views on Sun Pharmaceuticals 4QFY2014 results - Angel Broking

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

"Sun Pharmaceuticals, posted good set of numbers, mostly in line with expectation , on the top line and OPM front, while the net profit came in better than expected. On sales front, the company posted sales of Rs. 4044cr V/s expected Rs. 4000cr, registering a yoy growth of 31.6%. The growth on the sales front, was aided by the exports, which grew by 21.4% yoy, while the domestic markets grew by robust 21.4% yoy. On the Operating front, the OPM's came in at 44.5% V/s 44.4% expected and 41.5% in 4QFY2013. However, inspite of the sales and OPM, been in line, higher other income, which grew by 90% yoy, aided the net profit to come in higher than expected. The net profit for the quarter, came in at Rs. 1587.1cr, a yoy growth of 56.9% , higher than expected net profit of Rs. 1,401cr. We recommend a accumulate on the stock, with a price target of Rs. 643."

Sun Pharmaceuticals (CMP: Rs. 589/ TP: - Rs. 643/ Upside: 10.1)

Shares of SUN PHARMACEUTICAL INDUSTRIES LTD. was last trading in BSE at Rs.599.35 as compared to the previous close of Rs. 597.85. The total number of shares traded during the day was 173293 in over 5597 trades.

The stock hit an intraday high of Rs. 611.5 and intraday low of 595.9. The net turnover during the day was Rs. 104154236.

Source : Equity Bulls

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