Sharekhan's research report on Divi’s Laboratories
Divis Q3FY2020 numbers were soft, but management maintained revenue growth guidance of 10% for FY2020, pointing to a sturdy topline growth in Q4FY2020. Long-term growth to remain healthy, led by backward integration, aggressive capacity expansion, outsourcing potentials and opportunities in China. We expect the company to report a sales and profit CAGR of 20% and 22%, respectively in the next two years.
Outlook
We maintain our Buy rating on Divis Laboratories (Divis) with a revised PT of Rs. 2,200.
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