External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

External broker reports(aggregated public sources)

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

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>Divi’s Laboratories (DIVI) delivered in-line revenue.</li><li>However, it reported better-than-expected EBITDA/PAT led by a better product mix and lower tax rate (due to the shift to a new tax regime).</li><li>The custom synthesis (CS) business continues to improve for eight quarters now.</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.

Divi’s Laboratories (DIVI) delivered in-line revenue.However, it reported better-than-expected EBITDA/PAT led by a better product mix and lower tax rate (due to the shift to a new tax regime).The custom synthesis (CS) business continues to improve for eight quarters now.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.

Divi’s Laboratories - Custom Synthesis Drives Earnings; Generics Stable QoQ

External broker reports(aggregated public sources), Sharekhan

Sharekhan

Sharekhan is India's leading broking house providing services from easy online trading, research to wide array of financial products. 

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>Divis Labs’ revenue for the quarter amounted to Rs. 2,238 crore, marking a 17% y-o-y increase and a 6% q-o-q rise, which was 4% above estimates.</li><li>EBITDA stood at Rs. 616 crore, reflecting a 29% y-o-y increase but a slight decline of 1% q-o-q, falling short of our expectations by 4%.</li><li>Margins stood at 28%, indicating a 243 bps y-o-y improvement but a 184 bps q-o-q decrease. </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.

Divis Labs’ revenue for the quarter amounted to Rs. 2,238 crore, marking a 17% y-o-y increase and a 6% q-o-q rise, which was 4% above estimates.EBITDA stood at Rs. 616 crore, reflecting a 29% y-o-y increase but a slight decline of 1% q-o-q, falling short of our expectations by 4%.Margins stood at 28%, indicating a 243 bps y-o-y improvement but a 184 bps q-o-q decrease. 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.

Divis Laboratories Ltd - Company Set for Continued Growth

Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>The September 2024 Rebalance results for the NIFTY broad market Indices were announced after the close on Friday 23rd August 2024.</li>
<li>There will be two changes for NIFTY 50 and five changes for NIFTY 100 during the September 2024 index rebal event. All of these changes were as predicted. </li>
<li>All NIFTY 50 and NIFTY 100 changes will also be reflected in the NIFTY Next 50 index which could see US$647mn one-way capping flows.</li>
</ul>


The September 2024 Rebalance results for the NIFTY broad market Indices were announced after the close on Friday 23rd August 2024.
There will be two changes for NIFTY 50 and five changes for NIFTY 100 during the September 2024 index rebal event. All of these changes were as predicted. 
All NIFTY 50 and NIFTY 100 changes will also be reflected in the NIFTY Next 50 index which could see US$647mn one-way capping flows.


Quiddity NIFTY Sep 24 Rebal: US$647mn One-Way Capping for NIFTY Next 50; All Changes Were Predicted

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>
<a href="https://www.smartkarma.com/entities/divi-s-laboratories-ltd" target="_blank" data-smartkarma-citation="entities:4871:1" rel="noopener">Divi's Laboratories (DIVI IN)</a> reported steady performance in Q4FY24, marked by YoY and sequential growth in revenue and improvement in profitability. Double-digit growth is expected to continue.</li>
<li>Custom Synthesis business grew 47% YoY and 38% QoQ to INR12B in Q4FY24, driven by increasing value realization from existing commercial projects and addition of new projects to the portfolio.</li>
<li>In Custom Synthesis, Divi’s Lab is in the process of entering into a long-term supply agreement with an MNC customer and is planning for capacity addition at its manufacturing facility.</li>
</ul>



Divi's Laboratories (DIVI IN) reported steady performance in Q4FY24, marked by YoY and sequential growth in revenue and improvement in profitability. Double-digit growth is expected to continue.
Custom Synthesis business grew 47% YoY and 38% QoQ to INR12B in Q4FY24, driven by increasing value realization from existing commercial projects and addition of new projects to the portfolio.
In Custom Synthesis, Divi’s Lab is in the process of entering into a long-term supply agreement with an MNC customer and is planning for capacity addition at its manufacturing facility.


Divi's Laboratories (DIVI IN): Custom Synthesis Business to Drive Future Growth

Equity Capital Markets

Anthem Biosciences / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/anthem-biosciences" target="_blank" data-smartkarma-citation="entities:44206:1" rel="noopener">Anthem Biosciences (1234D IN)</a>, a Contract Research, Development, and Manufacturing Organization, has filed DRHP for INR34B IPO. The proposed IPO will be only offer for sale, with no fresh issue.</li>
<li>Anthem Biosciences is one of three CRDMOs that possess technological capabilities in India across ADCs, RNAi, peptides, and oligonucleotides, which are among the fastest growing in the pharmaceutical industry.</li>
<li>Differentiated technological capabilities, large clientele, and exposure to commercialized molecules enhance our conviction on the sustainable growth prospect of the company. Industry backdrop is also favorable.</li>
</ul>



Anthem Biosciences (1234D IN), a Contract Research, Development, and Manufacturing Organization, has filed DRHP for INR34B IPO. The proposed IPO will be only offer for sale, with no fresh issue.
Anthem Biosciences is one of three CRDMOs that possess technological capabilities in India across ADCs, RNAi, peptides, and oligonucleotides, which are among the fastest growing in the pharmaceutical industry.
Differentiated technological capabilities, large clientele, and exposure to commercialized molecules enhance our conviction on the sustainable growth prospect of the company. Industry backdrop is also favorable.


Anthem Biosciences Pre-IPO: High Visibility Powered by Differentiated Capabilities

India

Divi's Laboratories Ltd. manufactures pharmaceutical products which include generic drugs and their intermediates. The Company also undertakes contract research activities for other pharmaceutical companies.

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Divi's Laboratories (DIVI IN)

Divi’s Laboratories - Custom Synthesis Drives Earnings; Generics Stable QoQ

Divi’s Laboratories (DIVI) delivered in-line revenue. However, it reported better-than-expected EBITDA/PAT led by a better product mix and lower...

Motilal Oswal

Divis Laboratories Ltd - Company Set for Continued Growth

Divis Labs’ revenue for the quarter amounted to Rs. 2,238 crore, marking a 17% y-o-y increase and a 6% q-o-q rise, which was 4% above estimates.

Sharekhan

Quiddity NIFTY Sep 24 Rebal: US$647mn One-Way Capping for NIFTY Next 50; All Changes Were Predicted

The NIFTY50/NIFTY Next 50 Inclusion/Exclusion events will take place at the close of 27th September 2024. The final capping flows will be decided...

Janaghan Jeyakumar, CFA