Ipca Laboratories Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for IPCALAB, BSE:524494 Ipca Laboratories Ltd.

Ipca Laboratories Ltd.

09 Nov 2020

1335.00

-0.31%

IPCA Laboratories

Buy: Ipca Laboratories Ltd.

Target

ICICI Securities Limited

Q2 results were below I-direct estimates on all fronts due to lower-thanexpected sales in domestic formulations. Notwithstanding quarterly gyrations in domestic formulations, the company continues to thrive on the exports front, both in formulations and APIs. Though there are fluctuations in the institutional business, the management remains upbeat on prospects. Going ahead, with firm growth tempo in domestic formulations, good prospects both for API exports, formulation exports, we expect further improvement in financial parameters. Ipca will continue to remain a compelling bet on the back of well-rounded growth prospects for FY2023Esales, EBITDA, PAT CAGR of 12%, 22%, 29%, respectively. We arrive at our...

Ipca Laboratories Ltd. has an average target of 1756.67 from 3 brokers.

Ipca Laboratories Ltd.

09 Nov 2020

1335.00

-0.31%

Product mix, reduced operating cost drive earnings

Buy: Ipca Laboratories Ltd.

Target

Motilal Oswal

Ipca Laboratories (IPCA) delivered a better-than-expected quarter, led by a superior product mix and lower opex. A growing connect between patient, doctor, and marketing representative (MR) with the easing of the lockdown presents a better outlook in Domestic Formulation (DF) segment. Favorable demand for APIs and healthy traction in the EU/Institutional segment is further strengthening the earnings growth momentum for IPCA. We raise our EPS estimate by 5%/7% for FY21/FY22, factoring in a) an extended cost savings benefit in DF, b) improving demand in the Cough-Cold...

Number of FII/FPI investors decreased from 294 to 270 in Jun 2025 qtr

Ipca Laboratories Ltd.

12 Aug 2020

1335.00

-0.31%

Q1FY21 Result Update - Covid benefits beat estimates; Downgrade to Hold

Hold: Ipca Laboratories Ltd.

Recommendation Target

Prabhudas Lilladhar

EPS increased by 33%/2% for FY21/22E while 6% decreased for FY23E. 1QFY21 earnings was much higher than our estimate due to 1) incremental revenue of Rs2.59bn related to HCQS and CQ supply 2) better gross margin...

Ipca Laboratories Ltd. is trading below all available SMAs

Ipca Laboratories Ltd.

11 Aug 2020

1335.00

-0.31%

Ipca Labs

Buy: Ipca Laboratories Ltd.

Target

Sharekhan

Ipca Laboratories Limited (IPCA) reported a stellar performance for the quarter backed by impressive growth in the API segment. The revenues at Rs 1534 crore grew by 42.3% y-o-y on the back of sturdy 72% y-o-y growth in the API segment, while the formulations business was up by 36.6% y-o-y. The operating profit was up 195% y-o-y to Rs 587 crore. The operating margins surprised positively expanding by 1983 BPS y-o-y to 38.3%, attributable to favorable mix, low costs and expansion in gross margins. Strong operating performance percolated to the bottom line as well. Therefore the PAT at Rs 445 cr was up 243% y-o-y and was ahead of estimates. IPCA has guided for...

Ipca Laboratories Ltd. is trading below all available SMAs

Ipca Laboratories Ltd.

11 Aug 2020

1335.00

-0.31%

IPCA Laboratories

Buy: Ipca Laboratories Ltd.

Target

ICICI Securities Limited

Growth in export formulations (28% of FY20 revenues) was on the back of growth in both international generics and international branded formulations. The international anti-malarial institutional business has also contributed substantially to overall exports growth. US traction will take more time than earlier estimated due to USFDA import alerts for the Ratlam facility that is the only API source for Silvassa and Pithampur formulations plants along with Silvassa and Pithampur (Indore) plants that are specifically earmarked for the US business, besides third party sales. However,...

Ipca Laboratories Ltd. is trading below all available SMAs

Ipca Laboratories Ltd.

18 Jun 2020

1335.00

-0.31%

Ipca Laboratories Ltd: Pharmaceuticals

Buy: Ipca Laboratories Ltd.

Target

Karvy

Strong Revenue Growth in Domestic Formulations and APIs: In Q4FY20, total revenues of IPCA Labs increased by 20.5% YoY to Rs. 10.05 bn mainly due to strong performance in domestic formulations and API business.

Number of FII/FPI investors decreased from 294 to 270 in Jun 2025 qtr

Ipca Laboratories Ltd.

17 Jun 2020

1335.00

-0.31%

Ipca Labs

Buy: Ipca Laboratories Ltd.

Dolat Capital

Robust top-line growth; guided for strong FY21 IPCA's Q4FY20 numbers beat our estimates on top-line while adjusted for one-offs (impairment for US subsidiary and forex loss) margins at 20.5% came in line. Top line grew a strong 22% YoY led by: i) generic formulations (up 41% YoY), API (30% YoY); and ii) domestic formulations (21% YoY growth, while delay in shipment due to lockdown impacted branded exports to the tune of Rs260mn. HCQ supplies (both in India and exports) and higher sales from anti-malarial and anti-bacterial segments aided...

Ipca Laboratories Ltd. has an average target of 1756.67 from 3 brokers.

Ipca Laboratories Ltd.

17 Jun 2020

1335.00

-0.31%

Ipca Labs

Buy: Ipca Laboratories Ltd.

Target

Sharekhan

Ipca Laboratories Limited (Ipca) reported weak performance for the quarter. Revenues stood at Rs 1073.8 cr, up by 22% y-o-y. The growth in the topline was driven by a strong 17% and 30% growth in the formulations and the API segment respectively. The operating margins for the quarter contracted steeply to 15.7% attributable to higher employee costs and higher other expense. Consequently operating profit for the quarter at Rs 168.5 cr grew by a meager 2.4%. Higher depreciation charge coupled with a weak operating performance resulted in the PAT declining by 12.7% y-o-y to Rs 86 cr and missing estimates. IPCA has guided...

Ipca Laboratories Ltd. has an average target of 1756.67 from 3 brokers.

Ipca Laboratories Ltd.

17 Jun 2020

1335.00

-0.31%

4Q - Miss on margins; outlook remains promising

Buy: Ipca Laboratories Ltd.

Target

Motilal Oswal

17 June 2020 Ipca Laboratories (IPCA) ended FY20 on a strong note, with 42% YoY growth witnessed in earnings to INR6.5b. This was led by 16% YoY growth in Domestic Formulations (40% of sales), 32% YoY growth in the API segment (20% of sales), and healthy improvement in profitability. IPCA remains on track to improve MR productivity in DF, with cost efficiency expanding the business scope in API and International Generics. We remain positive on the company owing to the sustained outperformance of the DF segment, improved growth prospects in API, and better operating leverage. Maintain Buy. YoY, led by strong growth in the Exports (Generics), API, and DF businesses, partially offset by decline in Branded and Institutional exports. Exports (Generics) grew 40% YoY to INR1.7b (15% of sales) and DF sales 21% YoY to INR4.3b (40% of sales). API grew 30% YoY to INR2.8b (26% of sales) for the quarter, with Export APIs growing at 27% and Domestic APIs at 41%.

Number of FII/FPI investors decreased from 294 to 270 in Jun 2025 qtr

Ipca Laboratories Ltd.

17 Jun 2020

1335.00

-0.31%

Q4FY20 Result Update - Strong guidance in tough environment - Upgrade to BUY

Buy: Ipca Laboratories Ltd.

Recommendation Target

Prabhudas Lilladhar

at Rs1,839(earlier Rs1,728) on 26x PE of FY22E and upgrade to Buy (earlier Accumulate) due to marginal change in earnings estimate. Strong performance by Domestic formulation and API segment in Q4FY20: Revenue grew 21% YoY to Rs10.0bn (PLe Rs8.8bn) with domestic formulations and API business reporting strong growth of 21% and 30% YoY.EBITDA growth was 10% YoY to Rs1.92bn (PLe Rs1.56bn) and EBITDA margin was 19.2%(PLe 17.7%) versus 21% in Q4FY19.During the quarter, IPCA incurred impairment and...

Number of FII/FPI investors decreased from 294 to 270 in Jun 2025 qtr

Is Ipca Laboratories Ltd. worth buying?

365 Votes:

Buy 80.27%

Sell 9.86%

Hold 9.86%

RESEARCH REPORTS

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