ICICI Direct's research report on Syngene International
Syngene is an innovation-led contract research, development and manufacturing organisation offering integrated scientific services from early discovery to commercial supply.It is one of the largest listed contract research organisations (CRO) in India Revenue breakup: Discovery services (35%), dedicated services (32%), development and manufacturing (33%)
Outlook
Due to the structural story of outsourcing, we remain positive and retain our BUY rating We value Syngene at Rs 780 i.e. 50x P/E on FY23E EPS
For all recommendations report, click here
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