Views on Sun Pharmaceutical Industries Limited 4QFY2016 Results: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research- Pharma, Angel Broking) on Sun Pharmaceutical Industries Limited 4QFY2016 Results:

"For 4QFY2016 the company posted results below exceptions on sales front while posting results better than expected on the net profit. The company posted the sales of INR 7,414cr depicting a growth of 21% over same quarter last year. The sales from India came in at INR 1,807cr which was up by 17% over last corresponding period. US finished the dosage sales at US$ 580mn which was surged by 19% over last year, which includes the benefit of the 180-day exclusivity for Imatinib which commenced from Feb 2016.The sales from the Emerging Markets came in at US$ 124mn, while sales from the rest of the World came in at US$ 79 mn. On the operating front the OPM during the quarter was 31% which was lower than our expectations of 34.9%. R&D investments came in at INR 711cr which was 9.6% of net sales. The Net profit for the quarter was marked at INR 1,714cr a YoY growth of 93%. We maintain our BUY rating with a price target of INR 950."

Shares of SUN PHARMACEUTICAL INDUSTRIES LTD. was last trading in BSE at Rs.746.85 as compared to the previous close of Rs. 755.4. The total number of shares traded during the day was 405686 in over 15223 trades.

The stock hit an intraday high of Rs. 759.95 and intraday low of 745. The net turnover during the day was Rs. 303327091.

Source : Equity Bulls

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