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Last Updated : Feb 11, 2014 11:14 AM IST | Source: CNBC-TV18

Shilpa Medicare may touch Rs 355-360: SP Tulsian

SP Tulsian of is of the view that Shilpa Medicare may touch Rs 355-360 in the near term.

SP Tulsian of told CNBC-TV18, "Shilpa Medicare is a pharmaceutical company. It has eight manufacturing facilities; seven in India. The company is into active pharmaceutical ingredients (API) formulations."

He further added, "Its Q3 income was at Rs 155 crore as against Rs 136 crore Q-o-Q. Profit after tax (PAT) grew 50 percent sequentially to Rs 21 crore, so earnings per share (EPS) is Rs 6.30. It is a debt free company. Its 56 percent stake is with promoter and six high net worth individuals (HNIs), which includes the foreign institutional investors (FIIs) also – are holding 28 percent and of this 28 percent, 10 percent is held by the Baring India."

"Shilpa Medicare has consistently been performing. For the last three years or maybe for last 10-12 quarters, they have been doing quite well. But because of all the pharma stocks now doing quite well, they have largely got rerated also because earlier the smaller ones were not given good valuation by the market but I think now that situation is going to get changed after this number. The share is now ruling at Rs 330 and one can expect a price of Rs 355-360 in the near term maybe within a month," Tulsian said.


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First Published on Feb 11, 2014 11:14 am
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