Aurobindo Pharma Ltd.

NSE: AUROPHARMA | BSE: 524804 | ISIN: INE406A01037 |Industry: Pharmaceuticals
|Expensive Performer

Aurobindo Pharma Ltd.    
11 Feb 2019
Nirmal Bang Institutional
Aurobindo Pharma's (APL) 3QFY19 revenues at Rs52,697mn were up 11% QoQ and also 7.9%/8.6% above our/consensus estimate, respectively. The growth was led by a strong performance across geographies/businesses, but the surprise element was Europe and ARV business which grew QoQ 12% and 15%, respectively. Going forward, ARV performance may sustain, but Europe is expected to normalise at a euro150mn run rate as against euro 162m witnessed during 3QFY19. Despite a strong show on revenue front, net earnings stood at Rs7,122mn (up 16% QoQ) and were 4.2% below our estimate, but 6.4% above consensus estimate. Net earnings growth was subdued as cost-of-sales margin increased by 240bps (QoQ), R&D; costs...
Way2Wealth released a Results Update report for Aurobindo Pharma Ltd. on 20 Aug, 2019.
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