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Syngene: Timeline for follow-through in Zoetis contract key catalyst to watch

Another growth lever to watch in manufacturing is that of the Mangalore API facility. Here the USFDA approval is expected in H2FY24.

January 25, 2023 / 01:08 PM IST
Syngene: Timeline for follow-through in Zoetis contract key catalyst to watch

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

Highlights Strong top line in Q3; margins weighed by pick-up in other expenses Commercial shipments for Zoetis a function of product-specific regulatory approval Investment behind biologics manufacturing to continue Margins revival expected towards H2FY24, due to operating leverage Accumulate stock on declines for a long-term investment horizon Syngene International Ltd (CMP: Rs 581, Market cap: Rs 23,364 crore) has posted a strong top-line number for Q3FY23, benefiting from the traction in research and manufacturing businesses. Operating margins lost some sheen due to the rise in...

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