Ipca Laboratories Ltd. share price target

Revenues grew 5% YoY to | 666 crore (I-direct estimate: | 701 crore) driven by 9% growth in domestic formulations to | 277 crore (I-direct estimate: | 285 crore) and 27% growth in APIs to | 154 crore...

Revenue decreased by 14.31% to Rs. 730.84 Cr in Q3FY17 when compared to the previous quarter.

IPCA Labs posted results lower than expected for 3QFY2017 on both sales and net profit fronts, however OPM's were in-line with expectations. In sales, the company posted sales of Rs731cr, a yoy growth of 8.3% v/s Rs815cr expected. On EBITDA front, the company posted EBITDA of 13.9% (v/s 13.5% expected) v/s 11.6% in 3QFY2016. Consequently,..

IPCA's Q3 EBITDA at Rs 1.02 bn (up 30% YoY) was in line with our estimate, on account of strong gross margin expansion. However, Q3 PAT was 25% below estimate due to higher tax expense. Domestic formulation witnessed 9% YoY growth, moderately impacted by demonetization. Export businesses growth wa..

Revenue fell by 14.31% to Rs. 730.84 Cr in Q3FY17 when compared to the previous quarter. On the other hand, it increased by 8.35% when compared with Q3FY16.

ICICI Securities Ltd | Retail Equity Research Revenues grew 8% YoY to | 751 crore (I-direct estimate: | 783 crore) mainly due to 9% growth in domestic formulations to | 335 crore (Idirect estimate: | 355 crore). Export formulations grew 6% YoY to | 234 crore (I-direct estimate: | 257 crore) EBITDA margins improved 182 bps YoY to 14.7% (I-direct estimate: 13.7%) on account of a strong gross margin performance. Gross margins increased 357 bps YoY to 66.2% (I-direct estimate: 62.0%) Net profit grew 66% YoY to | 45 crore (I-direct estimate: | 44 crore)...

In Q3FY17, total revenues of IPCA Labs increased by 8.6%YoY to Rs 7,418mn (our estimates Rs 7598 mn) mainly due to increase in domestic formulations. The Companys operating margins increased by 181 bps YoY to 14.7% (higher than our estimates 14.6%) during the quarter mainly due to higher gross margins and lower staff and overheads. Its net profit has increased by 57% YoY to Rs 413 mn in Q3FY17 higher than our estimates of Rs 326 mn.

Ipca Laboratories posted numbers lower than expected on the net profit and OPM front. On sales front, the company posted sales of Rs853cr (vs. Rs750cr expected vs. Rs739cr in 2QFY2016), posting a yoy growth of 15.5%. On the operating front, the EBITDA margin came in at 12.8% vs. 14.9% expected vs. 10.6% in 2QFY2016. Consequently, the...

ICICI Securities Ltd | Retail Equity Research Revenues grew 17% YoY to | 885 crore (I-direct estimate: | 840 crore) mainly due to 23% growth in domestic formulations to | 404 crore (I-direct estimate: | 395 crore). Export formulations grew 16% to | 264 crore (I-direct estimate: | 235 crore) EBITDA margins improved 331 bps YoY to 14.5%, (I-direct estimate: 16.6%) on account of lower other expenditure. EBITDA grew 52% to | 128 crore (I-direct estimate: | 140 crore)...

In Q2FY17, total revenues of IPCA Labs increased by 15%YoY to Rs 8,529mn (our estimates Rs 8621 mn) mainly due to increase in domestic formulations. The Companys operating margins increased by 342 bps YoY to 14.7% (lower than our estimates 17.2%) during the quarter mainly due lower gross margins, higher staff cost and overheads. Its net profit has increased by 519% YoY to Rs 557 mn in Q2FY17 but lower than our estimates of Rs 739 mn.