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Hold Ipca Laboratories; target of Rs 1080: Sharekhan

Sharekhan recommended Hold rating on Ipca Laboratories with a target price of Rs 1080 in its research report dated August 11, 2022.

August 14, 2022 / 01:17 PM IST
 
 
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Sharekhan's research report on Ipca Laboratories


Ipca Laboratories Limited (Ipca) reported disappointing results for the quarter and numbers missed estimates. Ipca expects healthy traction in the domestic business to sustain and aims to stage 12% growth for FY2023, while outlook for generics as well as institutional business looks stressed. Dewas plant is expected to commence commercial production with contribution from the plant likely to start by FY2024 and full impact expected by FY2025. Ipca has lowered OPM guidance for FY2023 to 21% as against the earlier guidance of 22.5%. Ipca has reported 17% OPM for Q1FY2023 and guidance of 21% (though lowered) points at implied OPM to be improving in the subsequent quarters as compared to Q1FY2023.


Outlook


We retain our Hold recommendation with an unchanged PT of Rs. 1,080.


For all recommendations report, click here

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Ipca Laboratories - 120822 - khan

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first published: Aug 14, 2022 01:17 pm
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