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Last Updated : Apr 05, 2018 05:55 PM IST | Source: Moneycontrol.com

Buy Vivimed Labs Ltd; target of Rs 134: KR Choksey

KR Choksey is bullish on Vivimed Labs Ltd has recommended buy rating on the stock with a target price of Rs 134 in its research report dated March 05, 2018.

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KR Choksey's research report on Vivimed Labs Ltd


Vivimed Labs Limited (VIVIMEDLAB), is an integrated pharma player having a strong presence across the value chain by leveraging its proven expertise in the realm of chemistry. It has a wide portfolio in API, Branded generics and is a a world leader in the development of innovative photochromic dyes. The Company has 11 manufacturing plants (eight domestic and three overseas) across three continents. The pharmaceutical segment contributes 72% to the total sales while the remaining 28% is contributed by the speciality chemical segment.

Outlook

We value the Company at a P/E multiple of 5x on FY20E and arrive at a target price of INR 134/share resulting into an upside of 76% from the CMP of INR 76/share with valuations subject to re-rating depending upon regulatory hurdles and improvement in operating efficiencies. We assign a “BUY” rating on the stock.

For all recommendations report, click here


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First Published on Mar 5, 2018 06:13 pm
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