Views on Alembic Pharmaceuticals - 1QFY2018 Results: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research - Pharma, Angel Broking):

"Alembic Pharmaceuticals announced 1QFY2018 poor results, Sales came in at INR 648cr V/s INR 737cr in 1QFY2017, a YoY dip of 12.1%. International formulation came in at INR 282cr V/s INR 309cr, a YoY dip of 8.7%. Indian formulation sales at INR 236cr V/s INR 299cr, a YoY dip of 21.0%. EBDITA came in at 16% V/s 21% in 1QFY2017, one of reason being rise in R&D expenses which were at 14% V/s 11% of sales in 1QFY2017. Consequently, the PAT came in at INR 65cr V/s INR 102cr, a YoY dip of 36%.We maintain our ACCUMULATE rating on the stock with a target price of INR 648."

Shares of ALEMBIC PHARMACEUTICALS LTD. was last trading in BSE at Rs.540.2 as compared to the previous close of Rs. 558.1. The total number of shares traded during the day was 9240 in over 617 trades.

The stock hit an intraday high of Rs. 550 and intraday low of 537.55. The net turnover during the day was Rs. 4998874.

Source : Equity Bulls

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