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    IPCA Labs: Growth outlook primed by domestic business

    Ipca is adding 1200 medical representatives with a focus on Ortho, Derma, and Cardiovascular therapies

    Anubhav Sahu
    May 30, 2022 / 11:17 AM IST
    IPCA Labs: Growth outlook primed by domestic business

    Ipca Laboratories

    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 Q4 numbers of IPCA Labs (CMP: Rs 901; Market Cap: Rs 22,863 crore) were chiefly helped by the domestic formulations business, which constitutes 43 percent of the overall business. The domestic formulations business grew 27 percent, which was partially offset by the mediocre performance of the other segments leading to a 16 percent growth in the top line. The API business (20 percent of sales) continues to be impacted by the sales returns due to the issue of Azido impurity...

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