Divi's Laboratories Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for DIVISLAB, BSE:532488 Divi's Laboratories Ltd.

Divi's Laboratories Ltd.

04 Aug 2018

6079.00

0.13%

Strong growth partly on low base; On track to improve profitability

Neutral: Divi's Laboratories Ltd.

Target

Motilal Oswal

4 August 2018 revenue grew 21% YoY to INR10b (our estimate of INR10.5b). The strong YoY growth came partly on the back of last years low base. The business slowdown at Unit-I due to compliance-related activities during the quarter impacted the growth to some extent. Gross margin expanded by ~200bp YoY to 62%, but contracted by ~100bp QoQ due to change in product mix, higher prices of solvents on account of hike in crude oil prices and increase in prices of key starting material procured from China. EBITDA margin improved more sharply than gross margin by 554bp YoY to 35.4% for the quarter, driven largely by a reduction in costs related to remediation measures. Other expenses, as a percentage of sales, declined from 18.2% in 1QFY18 to 14.1% in 1QFY19. EBITDA grew 43.7% YoY to INR3.5b (our estimate of INR3.7b). PAT growth at 39% YoY was higher than EBITDA growth, led by forex gain of INR270m.

Divi's Laboratories .. has an average target of 6270.00 from 6 brokers.

Divi's Laboratories Ltd.

30 May 2018

6079.00

0.13%

Divi's Lab: Revenues in line, margins outperform

Hold: Divi's Laboratories Ltd.

Recommendation Target

Karvy

Revenues in line, margins outperform: Divis Lab's net revenues increased by 1.9% YoY to Rs 10.8 bn, marginallylower than our estimates of Rs 10.9 bn for the quarter. The operating marginswere at 35.5% in Q4FY18 (higher than our estimate of 33.9%) as against 34%in Q4FY17 on account of lower raw material cost and other expenses.

Number of FII/FPI investors decreased from 897 to 868 in Dec 2025 qtr

Divi's Laboratories Ltd.

29 May 2018

6079.00

0.13%

Divi's Laboratories

Hold: Divi's Laboratories Ltd.

Target

ICICI Securities Limited

EBITDA margins improved 159 bps to 35.5% (I-direct estimate of 33.7%) mainly due to strong gross margins and lower other expenditure. Gross margins improved 200 bps to 62.5% (I-direct...

Divi's Laboratories Ltd. is trading below all available SMAs

Divi's Laboratories Ltd.

28 May 2018

6079.00

0.13%

Divi's Labs (4QFY18): Low visibility on growth. Maintain NEUTRAL

Neutral: Divi's Laboratories Ltd.

Target

HDFC Securities

Maintain NEUTRAL rating, with a revised TP of Rs 1,095 (22x FY20E). After resolving the import alert for Unit 2, this was the 2nd consecutive quarter where Divis Lab (DIVIS) has maintained strong sequential improvement in its operational performance. Top line increased 5%QoQ/2%YoY, EBITDA at Rs 3.8bn was up 13%QoQ/-1.2%YoY and Reported PAT came in at Rs 2.6bn up 16%QoQ/0.9%YoY. EBITDA margin at 35.5% is suggesting that the business has returned to near normalcy. It was up 256bps QoQ/down 113bps YoY in 4QFY18.

Divi's Laboratories Ltd. is trading below all available SMAs

Divi's Laboratories Ltd.

28 May 2018

6079.00

0.13%

Overall revenue came marginally ahead of estimate by ~5% at Rs10.8bn as against estimate...

Hold: Divi's Laboratories Ltd.

Target

Emkay

Overall revenue came marginally ahead of estimate by ~5% at Rs10.8bn as against estimate of Rs10.4bn. Overall net income stood at Rs2.6bn as against estimate of Rs2.42bn, helped by significantly higher other income. The highlight of Q4FY18 was a 200/400bps qoq expansion in gross margin/EBITDA margin. The additional EBITDA margin expansion is a result of remediation costs fading away, which should completely normalize in the next 1-2 quarters. short-term growth outlook for DIVI's is uncertain given the possible paucity of capacity. Valuation also looks challenging for DIVI's given the stock's run-up in the past few months,...

Divi's Laboratories Ltd. is trading below all available SMAs

Divi's Laboratories Ltd.

26 May 2018

6079.00

0.13%

Margin surprises positively; charts expansion plan for coming years

Neutral: Divi's Laboratories Ltd.

Target

Motilal Oswal

Gross margin improved ~210bp YoY (~130bp QoQ) to 62.5%. This, along with a decline in other expenditure by ~180bp (as % of sales), led to margin expansion by ~180bp YoY to 35.5%. EBITDA rose ~8% YoY (+19% QoQ) to INR3.9b (est. PAT, however, grew by just 26 May 2018 ~1% YoY to INR2.6b, mainly due to a higher tax of 34% v/s 26% in 4QFY17. For FY18, sales, EBITDA and PAT stood at INR39b (-4.

Divi's Laboratories .. has an average target of 6270.00 from 6 brokers.

Divi's Laboratories Ltd.

02 Feb 2018

6079.00

0.13%

Result Update:Divis Lab.

Buy: Divi's Laboratories Ltd.

Target

Axis Direct

Q3FY18 revenue grew 6% YoY/ 17% QoQ (19%/ 11% YoY decline in Q1/ Q2), 9% ahead of our estimates, on resumption of supplies of non-exempted products and completion of USFDA resolution in Sept-Nov'17.

Divi's Laboratories Ltd. is trading below all available SMAs

Divi's Laboratories Ltd.

31 Jan 2018

6079.00

0.13%

Divi's Laboratories

Hold: Divi's Laboratories Ltd.

Target

ICICI Securities Limited

ICICI Securities Ltd | Retail Equity Research Revenues grew 6% YoY to | 1038 crore (I-direct estimate: | 957 crore) driven by growth across segments EBITDA margins declined 724 bps YoY to 31.4% (I-direct estimate: 36%), impacted mainly by lower gross margins (60.7% in Q3FY18 vs. 64.1% in Q3FY17), higher remediation cost & forex loss of | 16 crore in Q3FY18 vs. gain of | 0.7 crore in Q3FY17. Subsequently, EBITDA declined 14% YoY to | 326 crore (I-direct estimates of | 345 crore)...

Divi's Laboratories .. has an average target of 6270.00 from 6 brokers.

Divi's Laboratories Ltd.

29 Jan 2018

6079.00

0.13%

Divi's Labs (3QFY18): Normalcy returns. Maintain NEUTRAL

Neutral: Divi's Laboratories Ltd.

HDFC Securities

Maintain NEUTRAL rating, with a revised TP of Rs 1,100 (22x Dec-19E). 3QFY18 was Divis Labs (DIVI) first quarter post the lifting of the import alert on Unit II, and the recovery began well. The top-line came in at Rs 10.4bn, (in-line with estimates), up ~8%/17% YoY/QoQ. Strong growth in the CMS (+10% YoY) and nutraceuticals businesses (+23% YoY) boosted the top-line.

Divi's Laboratories .. has an average target of 6270.00 from 6 brokers.

Divi's Laboratories Ltd.

29 Jan 2018

6079.00

0.13%

Divi's Lab: Revenues outperform but margins below expectatio... (Jan 29, 2018)

Sell: Divi's Laboratories Ltd.

Target

Karvy

Divis Labs Net revenues increased by 6.2% YoY to Rs 10.4 bn, higher thanour estimates of Rs 9.8 bn for the quarter. The Operating margins were at31.4% in Q3 FY18 (lower than our estimate of 32.9%) as against 38.7% inQ3FY17 on account of lower gross margin and higher other expenses.

Number of FII/FPI investors decreased from 897 to 868 in Dec 2025 qtr

Is Divi's Laboratories Ltd. worth buying?

756 Votes:

Buy 78.17%

Sell 14.95%

Hold 6.88%

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