Dishman Pharma 3QFY2016 Results: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research - Pharma, Angel Broking) on Dishman Pharma 3QFY2016 Results:

Dishman Pharma (CMP: INR 347/ TP: / Upside:)

"Dishman Pharma posted results better than expected on net profit level. For 3QFY2016, the company posted sales of INR 382.5cr V/s INR 450cr expected and INR 38.5.8cr in 3QFY2015, a YoY de-growth of 0.9%. Its key segment CRAMS posted sales of INR 293cr, a growth of 0.4% YoY, while other segment posted sales of INR 89.7cr, de-growth of 4.9%. On operating front, the gross margins came in at 77.9% V/s 67.0% in 3QFY2015, leading the OPM to come in 27.2% V/s 18.4% expected and 18.2% in 3QFY2015. Thus, the Adj. net profit came in at INR 46.9cr V/s INR 31.6cr expected and V/s INR 24cr in 3QFY2015, YoY growth of 95.3%. We maintain our NEUTRAL rating on the stock."

Shares of DISHMAN PHARMACEUTICALS & CHEMICALS LTD. was last trading in BSE at Rs.347.65 as compared to the previous close of Rs. 322.15. The total number of shares traded during the day was 363284 in over 10157 trades.

The stock hit an intraday high of Rs. 350 and intraday low of 322.15. The net turnover during the day was Rs. 122878166.

Source : Equity Bulls

Keywords