Aurobindo Pharma Ltd. share price target

For 3QFY2017, Aurobindo Pharma (APL) posted numbers which were almost inline with expectations on sales and net profit front, with sales marginally higher than expected and net profit marginally lower than expected. On sales front, the company posted sales of Rs3844cr (v/s. Rs3,715cr expected) v/s. Rs3,432cr in 3QFY2016, posting a yoy gro..

Aurobindo's (ARBP) Q3FY17 EBITDA (up 9% YoY) was 4% below our estimate. Gross/ EBITDA margin declined 180 bps/170 bps QoQ on increased price erosion of key oral solid products (gAbilify, gEntecavir) in US. While injectables grew over 80%, the growth could soften given withdrawal (post injunction) ..

Revenue increased by 3.52% to Rs. 3844.47 Cr in Q3FY17 when compared to the previous quarter. Also, it increased by 11.69% when compared with Q3FY16.

ICICI Securities Ltd | Retail Equity Research Revenues grew 11% YoY to | 3906 crore (I-direct estimate: | 3870 crore) on account of 12% growth in the US to | 1745 crore (I-direct estimate: | 1925 crore). Europe business grew 9% YoY to | 855 crore (I-direct estimates: | 772 crore) EBITDA margins declined 42 bps YoY to 22.9% (I-direct estimates: 24.5%) mainly on account of higher other expenses. EBITDA grew 9% to | 895 crore (I-direct estimate: | 948 crore)...

ARBPs topline grew ~12% YoY to Rs 38.6bn in 3QFY17. The EBITDA margin declined ~170bps QoQ and 45bps YoY to 23.2% on account of heightened pricing pressure (13%YoY) in the US. Reported PAT stood at Rs 5.8bn, up ~6%YoY.

ICICI Securities Ltd | Retail Equity Research Aurobindo Pharma has acquired the Generis group in Portugal (subject to the fulfilment of certain anti-trust approvals), through its step down subsidiary Agile Pharma (Netherlands) for a consideration of ~135 million (~| 985 crore). The consideration is proposed to be financed via European debt. Generis' CY16 revenues were 64.8 million and EBITDA was 12.7 million. In CY17, the management expects revenues to increase to ~73 million and EBITDA to ~16 million mainly from new launches and...

Generis acquisition to strengthen ARBP's Europe business Aurobindo Pharma (ARBP) has acquired Generis Farmaceutica SA (Generis) for 135mn (including net working capital of 21.7mn) with reasonable valuation at 2.1x EV/Sales and 10.4x EV/EBITDA. With this acquisition (Generis SA: 2nd largest player by value), combined entity would become the largest player in Portuguese generic pharma market. In CY16, Generis generated 85% of sales from retail (73%) and hospital (12%) segment and have a well-diversified portfolio of 227 products, out of which 51 are pending for approval. Portuguese pharmaceutical market size is estimated at...

ARBPs revenues grew 13% YoY to Rs 37.8bn in 2QFY17, largely led by 18% growth in the US segment. Surprisingly, the EBITDA margin jumped 75bps sequentially to 24.6% ( 135bps YoY) with higher contribution from the US business and improved gross margins. Reported PAT stood at Rs 6.0bn, up 34%YoY.

Aurobindo Pharma (APL) posted numbers lower than expected on sales and net profit front, while OPM was more or less in line with expectations. On sales front, the company posted sales of Rs3715cr vs. Rs3,900cr expected vs. Rs3,280cr in 2QFY2016, posting a yoy growth of 13.3%. On the operating front, the EBITDA margin came in at 23.4% vs. ..

Aurobindo Pharma Ltd, fiscal second-quarter profit rose 33.2%, beating analysts' estimates, on higher sales of generic drugs in the US. The Sales grew by sharp 51% YoY to Rs 2881.22 crore for the quarter ended September 2016. The Operating Profit margins slightly up by 146 bps YoY to 24.61%. Consequently, Operating profit grew by 19% YoY to Rs 929.21 crore. After 32% decrease in other income to Rs 8.28 crore, PBIDTA grew by 18% YoY to Rs 937.49 crore. With lower interest cost (down by 104% YoY to Rs 2.65 crore) and even after higher depreciation (up by 19% YoY to Rs 110.20 crore), PBT grew by 32% YoY to Rs 829.94 crore. However, after the sharp rise in effective tax rate (up...