Accumulate Cadila Health; target Rs 818: Sushil Finance

Sushil Finance has recommended an accumulate rating on Cadila Healthcare with a revised target price of Rs 818 in its report dated November 21, 2011.

November 23, 2011 / 13:56 IST

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Sushil Finance has recommended an accumulate rating on Cadila Healthcare with a revised target price of Rs 818 in its report dated November 21, 2011.

"Cadila Healthcare Limited. (Cadila) has reported dismayed set of numbers for the second quarter running after a strong performance in FY11. The company has recorded revenues of Rs. 12364 mn with a growth of 10.7%, with PAT at Rs. 1027 mn, a de-growth of 40%. Revenues grew by 10.7% YoY from Rs. 11167 mn in Q2FY11 to Rs. 12364 mn in Q2FY12. The company registered a sluggish growth in its domestic business (growth of 7.5%) as compared to a growth of 19.2% in its export business."

"Domestic formulation business registered a meager growth of 6.6% from Rs. 4409 mn in Q2FY11 to Rs. 4700 mn in Q2FY12. The slower growth in the domestic market was attributed to the underperformance of some of the company

first published: Nov 23, 2011 01:37 pm

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