Arihant Capital's research report on Aurobindo Pharma
With Pharma industry facing a lot of head winds and price erosion hitting the margins of many US focused pharma companies, Aurobindo Pharma (APL) is able to maintain its EBITDA margins in the range of 22-25% from FY15-FY17. FY19 growth should be driven by injectable launches as well as ramp-up in the OTC business.
Outlook
At CMP of 608 the stock is trading at 11.6x PE of our FY20E EPS of Rs 52. We have an Accumulate rating on the stock with a target of Rs 728, valuing the stock at 14x PE of FY20E EPS of Rs 52.For all recommendations report, click here
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