Views on Sanofi India Ltd 1QCY2016 Results: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP- Research Pharma , Angel Broking) on Sanofi India Ltd. 1QCY2016 Results:

Sanofi India Ltd (CMP: INR 4400 / TP: / Upside:)

"Sanofi India posted robust growth during the quarter, aided by margin expansion. For 1QCY2016, the company posted a sales of INR 506cr, posting a YoY growth of 10%. On the operating front, the gross margins came in at 52.1% V/s 47.8%in 1QCY2015, which along with the lower rise in the other expenditure of 1.8% YoY, aided the OPM's to come in at 18.1% V/s 11.7% in 1CY2015. Thus, the reported net profit came in at INR 80.6cr V/s INR 64.5cr, a YoY growth of 25.0%. However, adjacent net profit, growth during the quarter was 66.5%. We remain NEUTRAL on the stock."

Shares of Sanofi India Ltd was last trading in BSE at Rs.4400.45 as compared to the previous close of Rs. 4321.4. The total number of shares traded during the day was 5661 in over 1435 trades.

The stock hit an intraday high of Rs. 4502.75 and intraday low of 4280. The net turnover during the day was Rs. 24982634.

Source : Equity Bulls

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