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Last Updated : Nov 05, 2018 10:37 AM IST | Source: Moneycontrol.com

Buy Sequent Scientific, target Rs 61: Rudra Shares & Stock Brokers

Led by improved performance across all business verticals, margin expanded by 310 basis points, says Manali Bhatia of Rudra Shares & Stock Brokers.

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Manali Bhatia

Sequent Scientific reported robust 27 percent growth in revenue. API business grew 40.4 percent whereas formulations business grew 22.7 percent in Q2FY19. Led by improved performance across all business verticals, margin expanded by 310 basis points. This has resulted in a four-fold increase in profitability for the quarter.

Also, it has acquired EU-GMP API facility at Mahad for Albendazole and Ricobendazole products, which will accelerate the API business ahead. Four new products will be validated in both the US and EU. Moreover, in the formulations business, five new product validations are planned (including two injectables) by Sequent.

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Given guidance of high revenue growth and 200 bps margin expansion in FY19, Sequent is on track to achieve the same.

Disclaimer: The author is a Senior Research Analyst at Rudra Shares & Stock Brokers Ltd. The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Disclosure: Rudra or its research analysts, or his/her relative or associate do not have any direct or indirect financial interest(except Sequent scientific Ltd.) nor any other material conflict of interest at time of stock recommendation, in the subject company. Also, Rudra or its research analysts, or his/her relative or associates do not have actual/beneficial ownership of one percent or more securities of the subject company. However, Rudra or its research analysts, or his/her relative or associate may have positions in Futures & Options.

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First Published on Nov 5, 2018 10:37 am
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