Views on Cadila Healthcare Ltd 3QFY2017 Results: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research- Pharma, Angel Broking) on Cadila Healthcare Ltd 3QFY2017 Results:

Cadila Healthcare (CMP: INR 349 / TP: INR 400 / Upside: 14.6%)

"Cadila Healthcare, posted sales of INR 2,302.4cr V/s INR 2,318cr in 3QFY2016, a YoY de-growth of 0.7%. Formulations (INR 1,863.5cr) posted de-growth of 4.0%, while other business and alliances (INR 438.9cr), a YoY growth of 16.2%. US Formulations (INR 886.9cr) posted decline of 17.2%, Indian Formulations (INR 796.8cr) a YoY growth of 10.7%. On EBITDA front, the company posted EBITDA of 13.7% V/s 22.3% in 2QFY2016. Consequently, PAT came in at INR 282cr V/s INR 424cr in 3QFY2016, de-growth of 39.0% YoY. We maintain our BUY rating on the stock."

Shares of CADILA HEALTHCARE LTD. was last trading in BSE at Rs.364.65 as compared to the previous close of Rs. 364.15. The total number of shares traded during the day was 108723 in over 2463 trades.

The stock hit an intraday high of Rs. 368.3 and intraday low of 358. The net turnover during the day was Rs. 39469145.

Source : Equity Bulls

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