Prabhudas Lilladher has maintained its buy rating on Ankur Drugs & Pharma with a price target of Rs 389 in its April 17, 2008 research report. "Ankur Drugs & Pharma’s (ADPL) Q4FY08 results were above our expectations. On consolidated basis, net sales grew by 80% YoY from Rs 1.15 billion to Rs 2.08 billion (we expected Rs 1.86 bilion), mainly due to the new manufacturing facility at Baddi going on-stream during Q3FY08. The company’s EBIDTA margin improved by 170bps from 14.9% to 16.6% YoY (we expected 16.5%), mainly due to decline in material cost. Personnel expenses declined by 40bps from 1.9% to 1.5% of net sales due to high sales growth and high level of automation in the new facility. The company’s net profit grew by 119% YoY from Rs 91 million to Rs 200 million (we expected Rs 161 million). We reiterate BUY rating on the stock with a price target of Rs389 (7x FY10 earnings) over the next 12 months, which is an upside of 61.1% over the current price," says Lilladher's research report.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
 
For further details click on attachment.......