Buy Granules India; target of Rs 300: Motilal Oswal

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Motilal Oswal's research report on Granules India

Granules India (GRAN) delivered better-than-expected 4QFY22 performance at operational level. Better realization from paracetamol supported by new launches resulted in improved profitability on a QoQ basis. We cut our EPS estimates by 3%/5% for FY23E/FY24E to factor in: a) increased price erosion in the base portfolio, b) opex towards MUPS/oncology block and c) higher freight cost.

Outlook

We value GRAN at 12x 12M forward earnings to arrive at our TP of INR300.

For all recommendations report, click here

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