Buy Ipca Laboratories: target of Rs 2560: Sharekhan
Sharekhan is bullish on Ipca Laboratories recommended buy rating on the stock with a target price of Rs 2560 in its research report dated November 09, 2020.
November 11, 2020 / 11:26 AM IST
Sharekhan's research repor on Ipca Laboratories
Ipca Laboratories Limited (Ipca) clocked strong numbers in Q2FY21 with sales growing 6% y-o-y to Rs 1,361 crore while PAT was up by 38.3% y-o-y to Rs. 267 crore. API segment has immense growth opportunities ahead, as company sees strong demand traction in this segment and is implementing de-bottlenecking to ease out capacity constraints. Formulations segment’s revenues also expected to improve backed by a pick-up in domestic as well as exports markets. Strong earnings prospects, sturdy balance sheet and healthy return ratios bode well.
We retain a Buy on stock with a revised PT of Rs 2,560.
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