External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>EBITDA (+68% YoY) was led by 17% sales growth (-4% QoQ US but up 18% YoY, +10% EU, and +49% YoY in growth markets), higher gross margin (+490 bps YoY), muted SG&amp;A/R&amp;D (+7%/ -4% YoY) but was partly offset by higher staff cost (+20% YoY)</li><li>ARBP expects to maintain US oral solid business growth momentum, led by new launches and volume gain in the base business</li><li>However, specialty/injectable business is expected to remain muted due to Eugia plant impact (site transfer to Vizag plant may take 1 year)—the company has guided for quarterly sales rate at USD 150 mn (Q4FY24 was at USD 147 mn) and US sales rate of USD 100-110 mn for FY25, it expects growth to improve in FY26 on the back of new launches</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

EBITDA (+68% YoY) was led by 17% sales growth (-4% QoQ US but up 18% YoY, +10% EU, and +49% YoY in growth markets), higher gross margin (+490 bps YoY), muted SG&amp;A/R&amp;D (+7%/ -4% YoY) but was partly offset by higher staff cost (+20% YoY)ARBP expects to maintain US oral solid business growth momentum, led by new launches and volume gain in the base businessHowever, specialty/injectable business is expected to remain muted due to Eugia plant impact (site transfer to Vizag plant may take 1 year)—the company has guided for quarterly sales rate at USD 150 mn (Q4FY24 was at USD 147 mn) and US sales rate of USD 100-110 mn for FY25, it expects growth to improve in FY26 on the back of new launchesContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Aurobindo Pharma (4QFY24): Strong Q4, Eugia’s USFDA Issues Key Concern. Maintain ADD

Aurobindo Pharma (4QFY24): Strong Q4, Eugia’s USFDA Issues Key Concern.

External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Aurobindo Pharma Limited (ARBP) is an integrated global pharmaceutical company headquartered in Hyderabad, India.</li><li>The company is engaged in the development, manufacturing, and commercialization of a wide range of generic pharmaceuticals, branded specialty pharmaceuticals, and active pharmaceutical ingredients (APIs) worldwide, spanning across more than 150 countries.</li><li>With a presence in over 25 manufacturing and packaging facilities, Aurobindo Pharma holds approvals from leading regulatory agencies including the USFDA, MHRA, EDQM, PMDA, WHO, Health Canada, MCC, and ANVISA. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Aurobindo Pharma Limited (ARBP) is an integrated global pharmaceutical company headquartered in Hyderabad, India.The company is engaged in the development, manufacturing, and commercialization of a wide range of generic pharmaceuticals, branded specialty pharmaceuticals, and active pharmaceutical ingredients (APIs) worldwide, spanning across more than 150 countries.With a presence in over 25 manufacturing and packaging facilities, Aurobindo Pharma holds approvals from leading regulatory agencies including the USFDA, MHRA, EDQM, PMDA, WHO, Health Canada, MCC, and ANVISA. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pick of the Week - Aurobindo Pharma Ltd - 04 MAR 2024

<ul><li>Aurobindo Pharma's PAT stood above our estimates by 14%.</li><li>The company’s consolidated revenue grew by 25.8% YoY and gross margins improved by 122bps QoQ.</li><li>EBITDA margins improved by 222bps QoQ. The US revenue at $409 Mn was up 7.1% QoQ. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Aurobindo Pharma's PAT stood above our estimates by 14%.The company’s consolidated revenue grew by 25.8% YoY and gross margins improved by 122bps QoQ.EBITDA margins improved by 222bps QoQ. The US revenue at $409 Mn was up 7.1% QoQ. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Aurobindo Pharma Ltd - Several Growth Levers in Place to Drive Topline

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

TSE Tokyo Price Index TOPIX / Technical Analysis

<ul>
<li>We continue to believe a 1-4-month pullback/consolidation is ongoing. Important supports have been violated, including $110 on MSCI ACWI (ACWI-US) and $41 on MSCI EM (EEM-US).</li>
<li>We're shifting our outlook to neutral on $ACWI after being bullish since early-November 2023. Major price breakdowns combined with deteriorating market dynamics have increased the odds of a topping pattern.</li>
<li>Also downgrading Japan to market weight. 7/25/24 we said "Japan's TOPIX breaking below 2800-2815 is near-term bearish, suggests it could pull back to its long-term uptrend, or worse."</li>
</ul>


We continue to believe a 1-4-month pullback/consolidation is ongoing. Important supports have been violated, including $110 on MSCI ACWI (ACWI-US) and $41 on MSCI EM (EEM-US).
We're shifting our outlook to neutral on $ACWI after being bullish since early-November 2023. Major price breakdowns combined with deteriorating market dynamics have increased the odds of a topping pattern.
Also downgrading Japan to market weight. 7/25/24 we said "Japan's TOPIX breaking below 2800-2815 is near-term bearish, suggests it could pull back to its long-term uptrend, or worse."


Downgrading Japan; Stay Defensive; Downgrading Outlook on Global Equities $ACWI to Neutral

India

Aurobindo Pharma Limited manufactures and markets oral and sterile antibiotics, antibacterials, anti-ulcerants and other generic basic drugs. Products include semi-synthetic penicillin drugs like ampicillin and amoxycillinas well as antibiotics, which include cloxacillin and dicloxacillin. The Company also manufactures formulations like astemizole, domeperidone and omeprazole.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Aurobindo Pharma (ARBP IN)

Aurobindo Pharma (4QFY24): Strong Q4, Eugia’s USFDA Issues Key Concern. Maintain ADD

EBITDA (+68% YoY) was led by 17% sales growth (-4% QoQ US but up 18% YoY, +10% EU, and +49% YoY in growth markets), higher gross margin (+490 bps YoY)

HDFC Securities

Aurobindo Pharma (4QFY24): Strong Q4, Eugia’s USFDA Issues Key Concern.

ARBP expects to maintain US oral solid business growth momentum, led by new launches and volume gain in the base business

HDFC Securities

Pick of the Week - Aurobindo Pharma Ltd - 04 MAR 2024

The company is engaged in the development, manufacturing, and commercialization of a wide range of generic pharmaceuticals, branded specialty...

Axis Direct

Aurobindo Pharma Ltd - Several Growth Levers in Place to Drive Topline

Aurobindo Pharma's PAT stood above our estimates by 14%. The company’s consolidated revenue grew by 25.8% YoY and gross margins improved by 122bps...

Axis Direct

Downgrading Japan; Stay Defensive; Downgrading Outlook on Global Equities $ACWI to Neutral

Downgrading Japan TOPIX, Nikkei; Stay Defensive; Downgrading Outlook on Global Equities $ACWI $EEM to Neutral; Many Risk-Off Signals increase odds...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)