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Buy Thyrocare Technologies; target of Rs 795: Prabhudas Lilladher

Prabhudas Lilladher is bullish on Thyrocare Technologies has recommended buy rating on the stock with a target price of Rs 795 in its research report dated August 14, 2018.

September 18, 2018 / 01:28 PM IST
 
 
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Prabhudas Lilladher's research report on Thyrocare Technologies


Thyrocare's sales, EBITDA and Adj. PAT grew 11%, 13% and 7% YoY respectively in Q1FY19. Revenues from preventive care and sick care business revenue grew 6% and 14% YoY respectively. The growth in preventive care was tepid due to increased competition from unorganized players and reduced promotional costs. Management guided for increased focus on B-2-B business and maintained similar B-2-C growth by spending 4-5% of sales in advertisements in FY19E.


Outlook


We expect the earnings growth to be slower in FY20 at 22%. With strong free cash flow we expect diagnostic companies to trade at premium valuations. We maintain our earnings estimate and BUY rating with TP at Rs795 (PER of 35x FY20E)


For all recommendations report, click here


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first published: Aug 21, 2018 05:04 pm

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