Views on Sanofi India Ltd 2QCY2016 Results: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP - Research Pharma, Angel Broking) on Sanofi India Ltd 2QCY2016 Results:

Sanofi India (CMP: INR 4,500 / TP: INR 4,738 / Upside: 5.3%)

"For 2QCY2016 company posted robust results. On sales front, the company posted sales of INR 565cr, a YoY growth of 9.9%. On the profitability front, the company had gross margins of 50.5% V/s 48.3% in 2QCY2015, which enabled the company to post an OPM of 18.2% V/s 16.7% in 2QCY2015. The expansion in the OPM was less than expansion in gross margins, as other expenses rose by 15.6% YoY. Expansion in OPM along with 30.5% YoY growth in other income aided the net profit to come in at INR 85.3cr V/s INR 64.2cr in 2QCY2015. We maintain our ACCUMULATE rating on the stock."

Shares of Sanofi India Ltd was last trading in BSE at Rs.4536.35 as compared to the previous close of Rs. 4605.6. The total number of shares traded during the day was 63 in over 28 trades.

The stock hit an intraday high of Rs. 4600 and intraday low of 4536.35. The net turnover during the day was Rs. 288304.

Source : Equity Bulls

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