Aurobindo Pharma Ltd. share price target

Eugia's injectable facilities creating uncertainty around the pace of US growth and the achievement of its USD 2 billion revenue aspiration.

Revenues below est, weak US business: Overall Revenue came in at INR 88.5bn, up 5.6% YoY, (we est INR 87.9bn). US revenues stood at USD 387mn, down 8% QoQ and 18% YoY (we est USD 426mn). Mgmt cited ex gRevlimid improvement in base business was visible YoY. EU sales up 30% YoY to INR 28bn, beat our est. ARV...

ARBP is accelerating its growth momentum by leveraging its extensive generic portfolio and expanding into high-margin specialty and injectable segments. The company is focusing on the US market with a mix of complex generics and unique products, which is expected to result in a more balanced revenue mix. Additionally, the development of injectable and specialty products is expected to unlock new growth opportunities as they enter the commercialisation stage. The company's...

Under the Production-Linked Incentive (PLI) scheme, ARBP constructed the PENG and 6-APA plants within a record three-year period and ramped up production following the start of the PEN-G plant in Jul’25.

The performance was more or less in sync with the overall FY26 management guidance with flattish US growth (wanning gRevlimid traction and pending approvals from Eugia III), overall single-digit growth, and EBITDA margins around ~21% (came in slightly lower though). European growth has been consistently strong over the last few quarters. Going forward, while sustainability of the EBITDA margins will be the key monitorable as the company plans to expand the R&D bandwidth and diversify into more complex models such as biosimilars, the GPMs are...

We maintain our BUY recommendation on the stock with a TP of Rs 1,345/share.

Aurobindo Pharma (ARBP) posted better-than-expected revenue/EBITDA for the quarter, driven by healthy growth momentum in the EU and ARV segments and currency benefits.

Sales/EBITDA/PAT were 1%/-0.4%/4% below our estimates. Adjusting for a one-time expense of Rs 653 mn, APAT was 2.5% above estimates

Minimum import duties on Pen-g, 6-APA, and amoxicillin sales are expected to boost Aurobindo Pharma’s (ARBP) overall performance over the next one year. We build in an INR5.5b-INR6.6b EBITDA, including PLI income, from this project over the next 12M.

With considerable investment (INR35b) done till date by Aurobindo Pharma (ARBP) in the Pen-G/6-APA project and support from the government under the PLI scheme, ARBP is scaling up the production to enhance self-sufficiency of India in bulk drugs/intermediates to be used for Beta-Lactum antibiotics.

Q2FY26- Muted numbers on expected lines Revenues grew ~6% YoY to 8286 crore due to softness in the US (44% of the revenues) which grew 3% to 3638 crore. Europe (30% of the revenues) grew 18% to 2480 crore and ARV (~4% of the revenues) grew 68% to 325 crore. Growth Markets (~10% of the revenues) grew ~9% YoY to 882 crore (including India formulations). APIs de-grew at 17% YoY to 961 crores. EBITDA grew 7% YoY to 1678 crore while EBITDA margins increased 16 bps to 20.3%. EBITDA de-growth was mainly driven by increase in employee expenses....

Aurobindo Pharma delivered a steady quarter, with revenue growth driven mainly by formulations, particularly Europe and a stable US base supported by new product launches.

We maintain our BUY recommendation on the stock with a TP of Rs 1,345/share.

Aurobindo’s Q2FY26 performance was steady, helped by its Europe (+17.8%) and ARV (68.4%) verticals. US sales, at USD 417mn, beat our expectation; though, gRevlimid sales slipped sequentially.

Aurobindo Pharma (ARBP) reported an in-line performance in 2QFY26. Interestingly, the quarter saw lower contribution from g-Revlimid compared to earlier quarters.

Sales/EBITDA was 2.3%/0.2% above our estimates. PAT was 6% below estimates, while EBITDA margin at 20.3% came 42 bps lower

We maintain our BUY recommendation on the stock with a TP of Rs 1,400/share.

Aurobindo Pharma's (ARBP) Q1FY26 EBITDA of Rs16.1bn (down 1% YoY) was 5% below our estimate led by lower US sales. Resultant our FY26 and FY27E EPS stands reduced by 5-10%. The company has maintained its 20-21% OPM guidance for FY26E despite gRevlimid sales loss. We expect margins and revenues to improve from H2FY26/FY27 with ramp up in PenG facility, Vizag pant commercialization and launches in US. We believe ARBP has multiple growth drivers in place with investments in vaccines, injectables, biosimilars...

Aurobindo Pharma (ARBP) delivered lower-than-expected performance for 1QFY26. While revenue was in line with estimates, EBITDA/PAT missed our estimates by 7%/8% for the quarter.

Sales/EBITDA/PAT were 2%/4%5% below estimates, mainly due to lower gRevlimid sales. EBITDA margin in-line at 20.4%