Views on Sanofi India 4QCY2015 Results: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research - Pharma, Angel Broking) on Sanofi India 4QCY2015 Results:

Sanofi India (CMP:INR 4,178/ TP: / Upside:)

"For 4QCY2015, the company posted results below expectations. On sales, the company posted a sales of INR 522cr, lower than expected INR 562cr, posting a YoY growth of 8.6%. On the operating front, the GPM came in at 51.5% V/s 45.5% in 4QCY2014, leading the OPM's to come in at 12.7% V/s 5.2% during the last corresponding period. However, this was lower than the expected 19.4% during the period. Thus the Adj. Net profit came in at INR 52.5cr V/s INR 102.3cr expected a YoY growth of 102.8%. However the reported profit came in at INR 120.2cr V/s INR 92.6cr during the last corresponding period, a YoY growth of 29.9%. This was on back of the other income which came in at INR 67.7cr, which was on back of sale of its property in Mumbai, for which the company got the INR 110cr as the compensation. Overall, we are NEUTRAL on the stock."

Shares of Sanofi India Ltd was last trading in BSE at Rs.4178.3 as compared to the previous close of Rs. 4203.85. The total number of shares traded during the day was 651 in over 176 trades.

The stock hit an intraday high of Rs. 4283 and intraday low of 4113. The net turnover during the day was Rs. 2726103.

Source : Equity Bulls

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