Moneycontrol PRO

Buy Torrent Pharmaceuticals; target of Rs 1820: Prabhudas Lilladher

Prabhudas Lilladher is bullish on Torrent Pharmaceuticals has recommended buy rating on the stock with a target price of Rs 1820 in its research report dated January 26, 2023.

January 29, 2023 / 07:45 PM IST
  • bselive
  • nselive
Todays L/H

Prabhudas Lilladher's research report on Torrent Pharmaceuticals

We cut our FY24E/25E EBITDA by 6%/3% to factor in lower US sales given recent OAI status to its Indrad unit along with higher interest cost. Torrent Pharma’s (TRP) 3QFY23 EBITDA was largely in line, however PAT was below our estimate led by forex loss and higher interest cost. TRP has Rs 70bn (75% of total sales) worth of highly profitable branded formulation sales spread across India, Brazil and RoW markets. In the near term, Curatio acquisition will increase the company’s net debt and we see this acquisition as EPS dilutive.


Also historically TRP has successfully managed to integrate Unichem and Elder acquisition which gives us comfort. We expect 17% EBITDA CAGR over FY23-25E. Maintain‘ BUY’ rating at TP of Rs 1,820/share, 17x EV/EBITDA to Dec 2024E.

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.

Torrent Pharmaceuticals - 27 -01-2023 - prabhu

Broker Research
first published: Jan 29, 2023 07:45 pm