Neuland Laboratories Ltd. share price target and research reports

Name: Latest research reports of Neuland Laboratories Ltd. authored by HDFC Securities and published by - Trendlyne research reports.
Item: Neuland Laboratories Ltd.
Rating: 5
Author: HDFC Securities

Latest analyst research reports with target prices and PDF download for NEULANDLAB, BSE:524558 Neuland Laboratories Ltd.

Neuland Laboratories Ltd.

06 Dec 2019

16171.00

0.45%

Management Meet Update

Mgmt Note: Neuland Laboratories Ltd.

Prabhudas Lilladhar

the business model and growth outlook till FY23E. NLL is in a slow growth phase with CAGR of 10% in revenues, while EBITDA and PAT declined at 9% and 16% over FY16-19. NLL underwent sharp decline of 700bps led by surge in raw material prices in China. Although worst seems over in terms of margins, significant expansion is unlikely to meet management guidance of 200bps/year beyond FY20E. We believe that Salmeterol API scale up for supplying to partners in US remains uncertain as it lacks clarity over the approvals of gAdvair from USFDA. Given the uncertain volatility over the...

Neuland Laboratories Ltd. has gained 27.73% in the last 6 Months

Neuland Laboratories Ltd.

16 Aug 2019, 08:17AM

16171.00

0.45%

Neuland Labs (1QFY20): Slow and steady. Maintain BUY

Buy: Neuland Laboratories Ltd.

Target

HDFC Securities

We continue to believe NLL is best-placed to benefit from the lack of third-party API suppliers who manufacture low-volume high-quality APIs, with its strength in complex chemical processes. The steady growth in the CMS portfolio (16% CQGR over the last 5 quarters), the launch of gSalmeterol in the US, and stable pricing in the Prime API segment are some of the key reasons for us to build in 13% revenue CAGR over FY19-21E. On the profitability front too, albeit a bit late, we expect to see a steady ramp up over FY20E as the contribution of Niche API and CMS segments is expected to increase, coupled with alleviated raw material prices and backward integration. Model 650bps margin expansion and expect NLL to deliver 101% EPS CAGR over FY19-21E. We maintain BUY on NLL following a mixed quarter. Our TP is revised to Rs 725 (14x FY21E EPS). The scale up in lucrative products like Salmeterol and Austedo remain key triggers for improvement in operational performance.

Number of FII/FPI investors increased from 250 to 259 in Jun 2025 qtr.

Neuland Laboratories Ltd.

19 May 2019

16171.00

0.45%

Neuland Labs (4QFY19): Positive outlook persists. Maintain BUY

Buy: Neuland Laboratories Ltd.

Target

HDFC Securities

Easing of raw material price hikes, higher capacity utilization (Unit-3) and scale up in high margin segments (Niche API, CMS) will enable robust revenue growth (~13%) and sharp margin recovery over FY19-21E. The US Salmeterol market is also gaining traction and we believe Neuland is well placed to benefit from this opportunity, which will reflect in improved operating performance over the next two years. Additionally, another potential blockbuster, Austedo, is expected to ramp up by FY21E. We maintain our positive stance on the company owing to a high visibility on growth and attractive valuations of 21/10x FY20/21E P/E at CMP. We maintain BUY on NLL following a beat on our estimates. Our TP is revised to Rs 920/sh (14x FY21E EPS). Hopes are hinged on ramp up in critical products like Austedo and Salmeterol.

Neuland Laboratories Ltd. has gained 27.73% in the last 6 Months

Neuland Laboratories Ltd.

14 Feb 2019

16171.00

0.45%

Neuland Labs (3QFY19): Recovery in sight. Maintain BUY

Buy: Neuland Laboratories Ltd.

Target

HDFC Securities

Remain bullish on the stock and maintain BUY with a TP of Rs 830 (14x Dec-20E EPS). Neuland Labs (NLL) reported encouraging numbers with 41% YoY revenue growth and a 73% YoY jump in EBITDA in 3QFY19. However, EBITDA margin remained muted at 9% of sales (in line) on account of continued raw material pressure, underutilized facilities and inferior business mix. PAT at Rs 46mn was up 5x YoY.

Number of FII/FPI investors increased from 250 to 259 in Jun 2025 qtr.

Neuland Laboratories Ltd.

12 Aug 2018

16171.00

0.45%

Neuland Labs (1QFY19): Difficult times. Maintain BUY

Buy: Neuland Laboratories Ltd.

Target

HDFC Securities

Maintain BUY with a TP of Rs 914 (16x FY20E EPS) Neuland Labs (NLL) delivered poor performance in its 1QFY19 results. Revenue grew 31%YoY to Rs 1.54bn (down 4%QoQ) and EBITDA at Rs 90mn was up 11.3%YoY (sequential drop of 52%) with margin at 5.8% (declining by ~100bpsYoY). PAT reduced by 37%YoY and 95%QoQ, standing at Rs 4.1mn.

Neuland Laboratories Ltd. is trading above all available SMAs

Neuland Laboratories Ltd.

12 May 2018

16171.00

0.45%

Neuland Labs (4QFY18): Getting it right. Maintain BUY

Buy: Neuland Laboratories Ltd.

Target

HDFC Securities

Re-iterate BUY with a TP of Rs 1,000 (16x on FY20E EPS). Ahead of expectations, Neuland Labs (NLL) ended the year with improved business performance. Top line grew 13.2% YoY/31.5% QoQ to Rs 1.6bn, with significant jump seen in Ciprofloxacin and Levetiracetam revenues during this quarter. EBITDA declined 34%YoY to Rs 188mn. However, sequential growth of 105% was encouraging. EBITDA margin stood at 11.7% (down 838bps YoY, up 420bps QoQ and 170bps ahead of expectation). Reported PAT after merging with NHSPL and NPRPL, came in at Rs 81mn in 4QFY18.

Neuland Laboratories Ltd. has gained 27.73% in the last 6 Months

Neuland Laboratories Ltd.

15 Mar 2018, 05:41PM

16171.00

0.45%

Neuland Labs (Initiating Coverage): Neu' growth avenues. BUY

Buy: Neuland Laboratories Ltd.

HDFC Securities

Initiate coverage with a BUY rating and target price of Rs 1,065 (16x FY20E). Although NCE drug research remains a distant dream for Indian pharma companies, they are making strong inroads into API CRAMS which is at the core of innovation for pharma MNCs. Neuland Labs (NLL) is one among these Indian companies. NLL has made great strides in API CRAMS over the past few years and has managed to win clients from key regulated markets like the US, Europe and Japan.

Neuland Laboratories Ltd. is trading above all available SMAs

Neuland Laboratories Ltd.

09 Nov 2016

16171.00

0.45%

Neuland Laboratories Ltd Q2FY17 Result Review

Buy: Neuland Laboratories Ltd.

BOB Capital Markets Ltd.

Amalgamation Scheme: The scheme involves issue of fresh equity shares by NLL to NHSPL and NPRPL which would increase NLL's equity by 25.6%. Promoter holding would change from 51.68% to 41.29 % post-merger. This would likely come into effect from Q2FY18. The amalgamation is aimed at building stronger business and financials, obtain tax benefits by clubbing R&D; services required for CMS business & better operational convenience. Going forward, we expect NLL to enjoy high margins led by strong...

Neuland Laboratories Ltd. is trading above all available SMAs

Neuland Laboratories Ltd.

30 Sep 2016

16171.00

0.45%

Neuland Laboratories Ltd Initiating coverage with BUY

Buy: Neuland Laboratories Ltd.

BOB Capital Markets Ltd.

Strengthening High-Margin Product Portfolio: Being a pure generic API Player, NLL is shifting its focus to high margin products like Niche molecules and CMS. Revenue from Niche Molecule/CMS has grown at a CAGR of 28%/28% over FY14-FY16 and is expected to grow at a CAGR of 17%/38% over FY16-19e. As a result of this strong business mix, the EBITDA has grown at a CAGR of 6.7% over FY14-16 and going ahead the growth expected to be at a CAGR of ~25% over FY16-19e. The EBITDA...