Sharekhan's research report on Lupin
Lupin Limited (Lupin) reported a weak Q1FY2023. OPM surprised negatively, marred by pricing pressures in the US and remediation cost at its plants. Yet, the management has shared a strong growth outlook across its US and India businesses. Further, given cost-control measures and few high-value launches lined up in the US, Lupin expects to end FY2023 with 18% OPM as compared to 6.2% in Q1FY2023.
Based on the encouraging outlook, we retain our Buy recommendation on the stock with an unchanged price target (PT) of Rs. 780.
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