External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory 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>Ipca is a fully integrated pharma company manufacturing over 350 formulations and 80 APIs with exports contributing 50% of revenues in FY21</li><li>Major therapeutic segments include pain management, cardiovascular and anti-diabetics, anti-infectives, anti-malarials, which together account for 75% of revenues</li><li>Target Price and Valuation: Valued at Rs 1175 i.e. 24x P/E on FY24E EPS of Rs 48.9</li></ul><div class="content-highlight"><em>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.</em></div>

Ipca is a fully integrated pharma company manufacturing over 350 formulations and 80 APIs with exports contributing 50% of revenues in FY21Major therapeutic segments include pain management, cardiovascular and anti-diabetics, anti-infectives, anti-malarials, which together account for 75% of revenuesTarget Price and Valuation: Valued at Rs 1175 i.e. 24x P/E on FY24E EPS of Rs 48.9Content 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.

IPCA Laboratories: Domestic Outperformance Offset by Drag in Exports

<ul><li>The Ipca Laboratories stock has been sub-divided from one existing equity share of Rs 2 each face value into two equity shares of Rs 1 each face value</li><li>Consequently, Ipca Lab’s share price has dropped to ~Rs 1099/share from ~Rs 2200/share.</li><li>Hence, our target price has also now been revised to Rs 1245/share post this corporate action.</li></ul><div class="content-highlight"><em>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.</em></div>

The Ipca Laboratories stock has been sub-divided from one existing equity share of Rs 2 each face value into two equity shares of Rs 1 each face valueConsequently, Ipca Lab’s share price has dropped to ~Rs 1099/share from ~Rs 2200/share.Hence, our target price has also now been revised to Rs 1245/share post this corporate action.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.

Ipca Laboratories: Two for One Share Stock Split

<ul><li>IPCA is a fully integrated pharma company manufacturing over 350 formulations and 80 APIs with exports contributing 50% of revenues in FY21</li><li>Ipca reported decent Q2FY22 results despite challenges. Sales were up 13.5% YoY to Rs 1544.4 crore</li><li>Maintain BUY due to good traction in domestic formulations and sustainable growth amid some margin pressure in medium term. We value IPCA at Rs 2490.</li></ul><div class="content-highlight"><em>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.</em></div>

IPCA is a fully integrated pharma company manufacturing over 350 formulations and 80 APIs with exports contributing 50% of revenues in FY21Ipca reported decent Q2FY22 results despite challenges. Sales were up 13.5% YoY to Rs 1544.4 croreMaintain BUY due to good traction in domestic formulations and sustainable growth amid some margin pressure in medium term. We value IPCA at Rs 2490.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.

IPCA Laboratories: Strong Performance Despite GPM Pressure

India

Ipca Laboratories Limited operates a pharmaceutical company, which distributes products to over 75 countries worldwide.  The Group's products include finished dosage forms, drug delivery systems, bulk drugs and intermediates.

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Ipca Laboratories (IPCA IN)

IPCA Laboratories: Domestic Outperformance Offset by Drag in Exports

Ipca is a fully integrated pharma company manufacturing over 350 formulations and 80 APIs with exports contributing 50% of revenues in FY21

ICICI Securities Limited

IPCA Laboratories: Strong Performance Despite GPM Pressure

Maintain BUY due to good traction in domestic formulations and sustainable growth amid some margin pressure in medium term Target Price and...

ICICI Securities Limited

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

IPCA Laboratories: Domestic Outperformance Offset by Drag in Exports

Ipca is a fully integrated pharma company manufacturing over 350 formulations and 80 APIs with exports contributing 50% of revenues in FY21

ICICI Securities Limited

Ipca Laboratories: Two for One Share Stock Split

The Ipca Laboratories stock has been sub-divided from one existing equity share of Rs 2 each face value into two equity shares of Rs 1 each face...

ICICI Securities Limited

IPCA Laboratories: Strong Performance Despite GPM Pressure

Maintain BUY due to good traction in domestic formulations and sustainable growth amid some margin pressure in medium term Target Price and...

ICICI Securities Limited