Prabhudas Lilladher's research report on Sun Pharmaceutical Industries
Sun Pharma (SUNP) reported strong growth across markets with EBITDA growth of +12% YoY aided by 1) specialty ramp-up across the globe, 2) focus on domestic market and 3) steady growth across ROW market. Company’s significant investments and efforts in specialty business has started paying off in upward trajectory of revenue. Sustained momentum in specialty will help in improving operating leverage and margins. Also, domestic formulations (32% of total revenue) continue to outperform IPM.
Outlook
We broadly maintain our estimates at ‘Buy’ rating with TP of Rs 1050 (Rs 1000 earlier) based on 26x Dec 2023E earnings as we roll forward. SUNP remains our top pick in large cap space.
More Info
At 16:00 hrs Sun Pharmaceutical Industries was quoting at Rs 889.10, down Rs 2.95, or 0.33 percent.
It has touched an intraday high of Rs 898.40 and an intraday low of Rs 882.05.
It was trading with volumes of 225,898 shares, compared to its thirty day average of 181,328 shares, an increase of 24.58 percent.
In the previous trading session, the share closed up 6.94 percent or Rs 57.90 at Rs 892.05.
The share touched its 52-week high Rs 895.40 and 52-week low Rs 561.65 on 01 February, 2022 and 24 February, 2021, respectively.
Currently, it is trading 0.7 percent below its 52-week high and 58.3 percent above its 52-week low.
Market capitalisation stands at Rs 213,324.87 crore.
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