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SMR
06-10-2015, 07:39 AM
Aurobindo Pharma Ltd is an India-based pharmaceutical company. The Companyís product portfolio is spread over six therapeutic/product areas encompassing anti-biotics, anti-retrovirals, CVS, CNS, gastroenterologicals, and anti-allergics. The Company manufactures generic pharmaceuticals, active pharmaceutical ingredients (APIs) and finished dosage formulations. The Company also produces semi-synthetic penicillinís. The Company operates across various divisions API manufacturing, formulation manufacturing, chemical R&D, formulation R&D and overseas operations. The Company also has a presence in therapeutic segments such as neurosciences, cardiovascular, anti-retrovirals, anti-diabetics, gastroenterology and cephalosporins, among others. The Company owns approximately 46 subsidiaries.

Official website: www.aurobindo.com

SMR
06-10-2015, 07:40 AM
For 4QFY2015, Aurobindo Pharma posted better-than-expected results; sales came in at `3,144cr V/s an expected `2,807cr and V/s `2,306cr in 4QFY2014, a yoy growth of 36.4%. Sales were driven by the ARV segment coupled with a good performance of the acquisitions. On the operating front, the EBITDA margin came in at 20.3% V/s an expected 14.5% and V/s 31.2% in 4QFY2014, a dip of 10.9 percentage points yoy. The OPM came in better than expected led by higher than expected sales. Thus, the Adj. PAT came in at `403.8cr V/s an expected `187cr and V/s `511cr in 4QFY2014, a dip of 21.1% yoy. We maintain our Buy rating on the stock, with a price target of `1,502.

Source: http://www.angelbroking.com

SMR
08-19-2015, 06:04 AM
For 1QFY2016, Aurobindo Pharmaceuticals (APL) posted a decent set of results. The company posted a sale of Rs3,320cr (v/s Rs3,400cr expected), a growth of 14.7% yoy. Sales were driven by formulations, which grew by 15.9% yoy; formulations constitute around 79% of sales. The key formulations segments like US, Europe, ROW and ARV posted a yoy growth of 28.1%, (7.1)%, 24.6% and 31.7% respectively. The API, on the other hand grew by 7.9% yoy. The operating profit came in at `725cr while the OPM stood at 21.8% (v/s 20.3% expected), ie a yoy contraction of 34bp. The company posted a net profit of Rs432.4cr, ie a yoy growth of 4%. The Adj. Net profit for the quarter came in at Rs451cr V/s Rs415cr in 1QFY2015, a yoy growth of 8.7%.We recommend an Accumulate rating on the stock. A better-than-expected OPM: For 1QFY2016, APL posted a decent set of results. The company posted a sale of Rs3,320cr (v/s Rs3,400cr expected), a growth of 14.7% yoy. Sales were driven by formulations, which grew by 15.9% yoy; formulations constitute around 79% of sales. The key formulations segments like US, Europe, ROW and ARV posted a yoy growth of 28.1%, (7.1)%, 24.6% and 31.7% respectively. The API, on the other hand grew by 7.9% yoy. The operating profit came in at Rs725cr while the OPM stood at 21.8% (v/s 20.3% expected), ie a yoy contraction of 34bp. The company posted a net profit of Rs432.4cr, ie a yoy growth of 4%. The Adj. Net profit for the quarter came in at Rs451cr V/s Rs415cr in 1QFY2015, a yoy growth of 8.7%. Outlook and valuation: We estimate the companyís net sales to log a 11.3% CAGR over FY2015Ė17E to Rs16,600cr on back of US formulations, which will be supplemented through the recent acquisitions of the Western European formulation businesses of Actavis and USís Natrol. The acquisitions have also led APL to become a >~US$2bn sales company, with around 80% of sales being accounted by formulations. We recommend an Accumulate on the stock.

Source: http://www.angelbroking.com/