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.

16 Feb 2021

1435.00

-1.25%

Monthly Update - IPM grapple for normalized growth after COVID

Accumulate: Ipca Laboratories Ltd.

Prabhudas Lilladhar

IPM is struggling for growth above 10% even after MoM abating COVID concerns and with MRs, physician activities almost reaching pre-COVID level. We believe key reasons for growth below par are (i) subdued new prescription (Rx) leading to volume de-growth (ii) digital marketing yield going south and (iii) sustained lower demand of acute products. Cardiac and anti-diabetic growth takes a breather in Jan-21 at 8.8% and 5.3% after reporting double digit growth in most months during lockdown. While amongst top therapies Gastro and VMN reported double digit growth of 14%...

Number of FII/FPI investors decreased from 270 to 254 in Sep 2025 qtr

Ipca Laboratories Ltd.

06 Feb 2021

1435.00

-1.25%

Better operating leverage drives earnings

Buy: Ipca Laboratories Ltd.

Target

Motilal Oswal

Ipca Laboratories (IPCA) delivered a marginally better-than-expected 3QFY21 financial performance, led by higher revenues in the Generic/Institutional Anti-Malaria segment as well as improved profitability in its subsidiary (Onyx Scientific) and associate company (Tropic Wellness). Capacity enhancement remains on track for the API business. Opex remains controlled for the Domestic Formulation (DF) segment. We raise our earnings estimate by 4%/2% for FY21/FY22, but lower our estimates by 7% for FY23, factoring in a) recovery in the outlook for Branded...

Number of FII/FPI investors decreased from 270 to 254 in Sep 2025 qtr

Ipca Laboratories Ltd.

06 Feb 2021

1435.00

-1.25%

Q3FY21 Result Update - Growth momentum continues across segments - Accumulate

Accumulate: Ipca Laboratories Ltd.

Target

Prabhudas Lilladhar

We reduce our earnings estimate by 3%/6% for FY22/23E, as we trim our growth projection for selective countries in branded and generic export formulation segment. 3QFY21 revenue was in-line with our estimate, however there was an EBITDAM beat of 250bps due to continued lower marketing expense. IPCA reaffirmed its growth guidance for FY22-23E with 1) India...

Ipca Laboratories Ltd. has an average target of 1595.00 from 3 brokers.

Ipca Laboratories Ltd.

05 Feb 2021

1435.00

-1.25%

IPCA Laboratories

Buy: Ipca Laboratories Ltd.

Target

ICICI Securities Limited

Strong export tender, API sales; improved margins... Domestic formulations comprise 44% of FY20 revenues. The domestic performance has been volatile at times due to presence of anti-malarials in the portfolio. However, with incremental growth in other therapies, especially non-communicable diseases like pain management, cardiodiabetology, etc, the overall portfolio is poised for steady growth. We expect...

Ipca Laboratories Ltd. is trading above all available SMAs

Ipca Laboratories Ltd.

09 Nov 2020

1435.00

-1.25%

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...

ICICI Direct upgraded Ipca Laboratories Ltd. to Buy with a price target of 1660.0 on 17 Nov, 2025.

Ipca Laboratories Ltd.

09 Nov 2020

1435.00

-1.25%

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 1595.00 from 3 brokers.

Ipca Laboratories Ltd.

12 Aug 2020

1435.00

-1.25%

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...

ICICI Direct upgraded Ipca Laboratories Ltd. to Buy with a price target of 1660.0 on 17 Nov, 2025.

Ipca Laboratories Ltd.

11 Aug 2020

1435.00

-1.25%

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. has an average target of 1595.00 from 3 brokers.

Ipca Laboratories Ltd.

11 Aug 2020

1435.00

-1.25%

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,...

Number of FII/FPI investors decreased from 270 to 254 in Sep 2025 qtr

Ipca Laboratories Ltd.

18 Jun 2020

1435.00

-1.25%

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.

ICICI Direct upgraded Ipca Laboratories Ltd. to Buy with a price target of 1660.0 on 17 Nov, 2025.

Is Ipca Laboratories Ltd. worth buying?

370 Votes:

Buy 80.27%

Sell 10.0%

Hold 9.73%

RESEARCH REPORTS

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