Cadila Healthcare Ltd.

NSE: CADILAHC | BSE: 532321 | ISIN: INE010B01027 |Industry: Pharmaceuticals
|Slowing Down Stock

Cadila Healthcare Ltd.    
08 Feb 2019
HDFC Securities
Maintain BUY rating with a TP of Rs 465 (22x Dec-20E EPS). Cadila (CDH) reported a bumper quarter in 3QFY19 with revenue at Rs 35.9bn, up 11/23% YoY/QoQ (12% beat). Seasonality in the US and several launches over the last 6 months were the key reasons. Although EBITDA margin at 24.2% was up 257bps QoQ (155bps miss) on account of higher operating leverage in the US, there was a 300bps drop in gross margin due to higher AG sales.
Cadila Healthcare Ltd. has an average target of 340.86 from 9 brokers.
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