D`Cunha told CNBC-TV18, "Wockhardt has been beaten down primarily because of financial troubles but the company has been actually doing very well operationally. If you look at the EBITDA it has improved from 19% to 26% over the last 5 quarters. The financial issues that it had some are now in the process of getting resolved. They have deposited about Rs 115 crore in the court against liability of Rs 440 crore. They have also got permission to sell off their nutrition business which will give them about Rs 640 crore in cash."
He further added, "Wockhardt is paying about Rs 270 crore by way of interest on its borrowing and if this is brought down with the cash that it gets from the nutrition business plus the settlement with the bond holders in future you will start seeing Wockhardt generate very good earnings going forward. It recently got US FDA approval to launch Flonase in the US markets which is a nasal spray that has 300 million dollar market which is very encouraging for the company. Given this background Wockhardt is another dark horse which we can start looking at accumulating as the results keep coming in."
