Views on Cadila Healthcare 1QFY2016 Results - Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research - IT, Angel Broking) on Cadila Healthcare 1QFY2016 Results:

"For 1QFY2016, Cadila Healthcare posted robust results. On sales, the company posted of INR 2378cr V/s INR 2451cr expected, a yoy growth of 17.8% driven by exports. The domestic formulations (INR 742cr) grew by 9.9% yoy, while the exports (INR 1326cr) grew by 35.6% yoy. The key export markets which posted robust growth was US (37.5% yoy), Emerging Markets Formulations (19.5% yoy). On the operating front, the gross margins came in 64.3% V/s 64.2% expected and 59.7% in 1QFY2015. The OPM, came in at 20.1% V/s 20.5% expected, yoy expansion of 303bps. On the net profit front, company posted Adj net profit of INR 352cr V/s INR 372cr expected, a yoy growth of 50.1%. The R&D expenditure during the quarter came in around 7.1% of sales V/s 5.2% of sales in 1QFY2015. We recommend a NEUTRAL rating on the stock."

Shares of CADILA HEALTHCARE LTD. was last trading in BSE at Rs.2017.3 as compared to the previous close of Rs. 1918.25. The total number of shares traded during the day was 99954 in over 6586 trades.

The stock hit an intraday high of Rs. 2040 and intraday low of 1923. The net turnover during the day was Rs. 199088100.

Source : Equity Bulls

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