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Last Updated : Jun 13, 2019 01:50 PM IST | Source: Moneycontrol.com

Accumulate Suven Life Sciences; target of Rs 310: Dolat Capital

Dolat Capital recommended Accumulate rating on Suven Life Sciences with a target price of Rs 310 in its research report dated May 28, 2019.

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Dolat Capital's research report on Suven Life Sciences


Suven reported a strong performance during Q4FY19. Revenue grew 19% YoY, due to a 64% YoY rise in specialty chemicals. Core CRAMS grew 4% to ` 718mn, whereas commercial CRAMS fell 23% YoY to ` 420mn (` 800mn for FY19). CTS grew 26% YoY, including Taro royalty worth ` 24mn. The management expects commercial revenue to be in the range of ` 1.3mn in FY20 and flat specialty chemicals. SUVN 502 could be a positive trigger, if the data is favourable.


Outlook


Based on a conservative approach, we estimate a TP of ` 310 (16x FY21E + NCE pipeline).


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.




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First Published on Jun 13, 2019 01:50 pm
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