Maintain BUY with a TP of Rs 480 (12x FY20E EV/EBITDA). As per the recent updates from Tesaro (one of the key clients of Dishman Carbogen), Niraparib has met the primary end point in QUADRA clinical trial for 4th line of treatment in ovarian cancer. It enables Tesaro to market Niraparib for late phase ovarian cancer treatments (4L+). Effectively, it will increase the volumes for Tesaro and Dishman carbogen both.