Views on Lupin Limited Q2FY2018 Results: Angel Broking

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

"The company posted lower than expected sales, while EBDITA and net profit came in higher than expected. In rupee terms, revenues came in at INR 30,541cr V/s INR 3,874.2cr, down 8.0% YoY. In terms of geography, USA (North America posted 31.9% dip YoY on back of pricing pressures, India another key market posted a 16.4% YoY growth. Other markets, like APAC, EMEA, LATAM, posted a YoY growth of 15.2%, 17.1% and 41.5% respectively. ROW posted a dip of 4.5% YoY. On the operating front the EBITDA margin, came in at 20.0% V/s 19.6% expected, on back of much lower than expected other expenses, which dipped by 24% YoY. Consequently, PAT came in at INR 456cr V/s INR 421cr expected, a dip of 31.3% YoY. We maintain our BUY rating on the stock, with a price target of INR 1,467."

Shares of LUPIN LTD. was last trading in BSE at Rs.1027.45 as compared to the previous close of Rs. 1027.55. The total number of shares traded during the day was 152130 in over 3776 trades.

The stock hit an intraday high of Rs. 1037 and intraday low of 1010.8. The net turnover during the day was Rs. 156101558.

Source : Equity Bulls

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