Views on Sun Pharmaceutical Industries Limited 1QFY2017 Results: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research- Pharma, Angel Broking) on Sun Pharmaceutical Industries Limited 1QFY2017 Results:

"For 1QFY2017, sales came in higher than expected, the sales at INR 8007cr V/s INR 7414cr expected and V/s INR 6,526cr in 1QFY2016, a YoY growth of 22.7%, mainly driven by exports. On the operating profit front, the EBITDA margins came in at 33.5% V/s 29.5% expected V/s 24.8% in 1QFY2016, mainly driven by gross margin expansion (76.9% in 1QFY2017 V/s 73.7% in 1QFY2016). Thus, the Adj. net profit came in at INR 2,034cr V/s INR 1602cr expected INR 1,168cr in 1QFY2016. We maintain our BUY rating on the stock."

Shares of SUN PHARMACEUTICAL INDUSTRIES LTD. was last trading in BSE at Rs.801.8 as compared to the previous close of Rs. 808.9. The total number of shares traded during the day was 956553 in over 23644 trades.

The stock hit an intraday high of Rs. 825.7 and intraday low of 792. The net turnover during the day was Rs. 776141177.

Source : Equity Bulls

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