Sharekhan's research report on Cadila Healthcare
Q3FY22 was a steady quarter for Cadila with the revenues and PAT reporting a flat yoy growth. India growth(Ex-Covid products) was strong while US performance was under pressure. Management eyes a strong growth outlook for India, backed by market share gains in key therapy areas, planned launch of high value – Desidustat in April 2022 and growth in the base business. The US business is expected to be impacted by price erosion in near term while long term growth levers are intact driven by planned high value launches.
Outlook
We retain Buy Recommendation on Cadila Healthcare (cadila) with a revised PT of Rs 560. Given the steep 19% correction in stock prices in path three months the valuations now have turned reasonable.
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