Aurobindo Pharma 3QFY2016 Results: Angel Broking

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

"The company disappointed on the revenue front which came in below expectations growing by 9.2% YoY to INR 3,432cr. This was against our expectations of INR 3,800cr. The key markets like USA (INR 1571cr) posted a YoY growth of 30.8%, Europe (INR 779cr) posted a de-growth of 9.6%, ROW (INR 182cr) posted a YoY growth of 36.2% and ARV (INR 305cr) posted a de-growth of 8.5%. On the operating front, the gross margins came in as expected at 54.7% V/s 49.6% in 3QFY2015, which aided the OPM's to come in at 22.7% V/s 18.7% during the last corresponding period. Thus, the Adj. Net profit of the company rose to INR 525cr V/s INR 399cr in 3QFY2015, YoY growth of 31.7%. We maintain our BUY rating on the stock with a price target of INR 856."

Shares of AUROBINDO PHARMA LTD. was last trading in BSE at Rs.659.6 as compared to the previous close of Rs. 641.6. The total number of shares traded during the day was 563204 in over 17108 trades.

The stock hit an intraday high of Rs. 671.7 and intraday low of 602. The net turnover during the day was Rs. 357252535.

Source : Equity Bulls

Keywords