Buy Caplin Point Laboratories; target of Rs 605: ICICI Direct

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26 Aug, 2025 12:21

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ICICI Direct's research report on Caplin Point Laboratories

The Q3FY21 operational performance was mostly in line with our expectations whereas profitability was below due to lower than expected other income. Revenues grew 20.2% YoY to Rs 274 crore. EBITDA margins improved 89 bps YoY to 30.6% due to higher gross margins, lower other expenses partly offset by higher staff costs likely due to acquired subsidiaries. Hence, EBITDA grew 23.9% YoY to Rs 84 crore. However, PAT grew 10.1% YoY to Rs 64 crore due to lower other income & higher tax outgo.

Outlook

We maintain BUY rating and arrive at our target price of Rs 605 (unchanged) based on 12x FY23E EPS of Rs 50.6.

For all recommendations report, click here

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