Sharekhan's research report on Gland Pharma
Gland reported a strong performance for Q1FY22 and results were ahead of estimates. The sales and PAT reported a growth of 30.5% and 12% YoY respectively. Strong growth in the RoW and India markets, double digit growth in the Core markets and Vaccine led opportunities would be the key growth drivers for company. Strong domain expertise and growth prospects, sturdy earnings track record and strong financials are the key positives for Gland.
Outlook
We retain our Buy recommendation on Gland Pharma (Gland) with a revised PT of Rs. 4,400.
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