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Bajaj Healthcare: Correction presents buying opportunity

Over the next 2-3 years, the management is targeting a top line of over Rs 1,000 crore, which equates to a CAGR revenue growth of around 18-20 percent

November 24, 2021 / 04:08 PM IST
Bajaj Healthcare: Correction presents buying opportunity

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

The September quarter results of Bajaj Healthcare (BHL) have turned out to be disappointing as earnings failed to meet expectations. Following the weak set of earnings, the stock price of the bulk drug manufacturer has plunged 40 percent from its lifetime highs. Despite a weak Q2, we remain optimistic about BHL’s growth outlook as the robust drug pipeline will continue to propel earnings growth in the coming years. Quarterly result snapshot In Q2, BHL’s comparable revenues were down 27 percent year on...

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