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Sun Pharma CFO Uday Baldota said given the complexity of the merger, it is difficult to give guidance for FY16, adding that the company is undertaking remediation plans for all Ranbaxy facilities.
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Sarabjit Kaur Nangra of Angel Broking is neutral on Cipla as of now because the price has run up ahead of fundamentals.
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Sarabjit Kour Nangra, VP- Research, Angel Broking, believes it to be the Ranbaxy effect. However, she says 14.5 percent is very low, because after consolidation she was looking at closer to 30 percent.
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Drug major Sun Pharmaceutical Industries's fourth quarter consolidated profit is likely to increase 9.7 percent year-on-year to Rs 1,659.85 crore, according to a CNBC-TV18 poll. The numbers will be announced on May 29.
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The company has grown faster than the market in India and would be focused on research and development (R&D) spends going forward, said Uday Baldota, CFO, Sun Pharma.
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Sun Pharmaceutical Industries will announce its third quarter earnings on Saturday. According to a CNBC-TV18 poll, net profit of the drug maker may rise 7 percent year-on-year to Rs 1,638 crore during October-December quarter, impacted by lower operating performance.
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Speaking to CNBC-TV18, Sarabjit Kaur Nangra of Angel Broking said on the bottomline, margins suffered due to forex loss. The drug maker reported a forex loss of Rs 132.6 crore versus gain of Rs 10.1 crore from a year ago period.
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Ranbaxy Laboratories, which will soon become a part of Sun Pharma, will announce its third quarter (October-December) earnings today. Analysts expect the quarter to be a good one due to Diovan generic (is used to treat high blood pressure).
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The pharma major is hopeful of maintaining its revenue growth guidance of 13-15 percent for FY15 though the margins may get impacted marginally.
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Prakash Agarwal, Equity Analyst, CIMB has a hold rating on Ranbaxy with target price of Rs 630/share.
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Ranbaxy Laboratories has turned profitable in the second quarter of current financial year. The company reported consolidated net profit of Rs 478 crore during the quarter as against loss of Rs 454 crore in the year-ago period.
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Brokerages wary about Ranbaxy sustaining its performance
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Ranbaxy Laboratories, which has been struggling for drug production due to USFDA issues, reported a net loss of Rs 159 crore for the fourth quarter (October-December) as against loss of Rs 486.55 crore in same quarter last year.
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In a conference call, the company, now owned by Japanese Daiichi Sankyo, said it was committed to resolving issues with the FDA, which has now banned imports from all four its plants in India.
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Analysts are worried about the guidance (Rs 13,000-13,500 crore - with no first-to-file included) after the US Food and Drug Administration (USFDA) banned manufacturing and distributing active pharmaceutical ingredients from its Toansa facility. Toansa was the fourth plant that was banned by USFDA after Mohali, Dewas and Poanta.
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Sales of Ranbaxy Laboratories are expected to increase by 2.8 percent Q-o-Q (up 15.7 percent Y-o-Y) to Rs 2879.1 crore, according to Motilal Oswal.
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Ranbaxy Laboratories is expected to release its Q3 numbers today.
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Pharma companies are likely to post 12 percent Y-o-Y revenue growth. However, excluding Wockhardt (FDA issues) and Fortis Healthcare (divestments), revenue growth is expected to be 19 percent Y-o-Y.
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He is positive on Dr Reddy mainly because the company is going to benefit significantly in FY14 and FY15 from the new launches and at the same time the margins will also be higher. He does not expect any major surprise coming in Lupins' quarterly result.
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Angel Broking's Sarabjit Kaur Nangra believes the Q2 earnings of Ranbaxy is lower than expectations as both the operating performance and the net profit of the company are disappointing
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According to Motilal Oswal, Ranbaxy Laboratories to report a 27.8 percent growth quarter-on-quarter (down 19.1 percent Y-o-Y) in net profit at Rs 166.3 crore.
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According to Prabhudas Lilladher, Ranbaxy Laboratories may report a 95.1 percent degrowth quarter-on-quarter (down 103.4 percent Y-o-Y) in net loss at Rs 25.9 crore.
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Emkay Equity Advisory expects Ranbaxy Laboratories to report a 145.4 percent growth quarter-on-quarter (decline of 60.5 percent year-on-year) in net profit at Rs 150.1 crore.
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Motilal Oswal expects Ranbaxy Laboratories to report a 16.7 percent growth quarter-on-quarter (decline of 38.8 percent year-on-year) in net profit at Rs 105.5 crore.
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Prabhudas Lilladher expects Ranbaxy Laboratories to report a 26.1 percent growth quarter-on-quarter (decline of 127.1 percent year-on-year) in net profit at Rs 158.6 crore.
