Moneycontrol PRO

Buy Sanofi India; target of Rs 9820: ICICI Direct

ICICI Direct is bullish on Sanofi India recommended buy rating on the stock with a target price of Rs 9820 in its research report dated February 24, 2021.

February 26, 2021 / 01:02 PM IST
  • bselive
  • nselive
Todays L/H

ICICI Direct's research report on Sanofi India

CY20 revenues de-grew 5.5% YoY to Rs 2902 crore mainly due to divestiture of few products to Zentiva (Ankaleshwar slump sale) and Covid-19 impact on certain therapies. EBITDA margins improved 291 bps YoY to 24.6% mainly due to lower other expenditure and slightly better gross margins. Subsequently, EBITDA grew 7.2% YoY to Rs 713 crore. Adjusted PAT grew 9.7% YoY to Rs 519 crore. Note: Results are not comparable YoY due to closure of the Zentiva transaction on May 29, 2020.


We maintain BUY with a target price of Rs 9820 (unchanged) based on 35x CY22E EPS of Rs 280.6.

For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Feb 26, 2021 01:02 pm
ISO 27001 - BSI Assurance Mark