External broker reports(aggregated public sources), Sharekhan

Sharekhan

External broker reports(aggregated public sources)

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.

Equity Bottom-Up

<ul><li>Zydus Wellness Limited’s (ZWL’s) Q2FY2025 numbers were mixed with revenue growing by 12% y-o-y to Rs. 493 crore (versus Rs. 475 crore expected), while OPM stood flat y-o-y at 4% (against expectation of 5.3%).</li><li>Adjusted PAT came in at Rs. 16 crore. Volume growth of 8.4% beat industry growth.</li><li>The HFD category is recovering. ZWL expects to beat category growth of 5-6% in medium to long term. </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.

Zydus Wellness Limited’s (ZWL’s) Q2FY2025 numbers were mixed with revenue growing by 12% y-o-y to Rs. 493 crore (versus Rs. 475 crore expected), while OPM stood flat y-o-y at 4% (against expectation of 5.3%).Adjusted PAT came in at Rs. 16 crore. Volume growth of 8.4% beat industry growth.The HFD category is recovering. ZWL expects to beat category growth of 5-6% in medium to long term. 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.

External broker reports(aggregated public sources), Nirmal Bang

Nirmal Bang

A Relationship Beyond Broking

Nirmal Bang, one of the leading stock broking companies in India, caters to retail and institutional clients by offering them a range of financial products and services, including equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS.

Nirmal Bang is drawn from a diversity of professional backgrounds, and blend of experience, skill and dedication is shared with its clients. Nirmal Bang emphasizes adequate, thorough research local and world-wide developments, balancing these with the astute discovery of intrinsic values, synergies and growth. The aim is simply to help the investors to maximize their returns.

Thematic (Sector/Industry)

<ul><li>4QFY22 is expected to be a flattish quarter for most Pharma companies in our coverage universe.</li><li>We expect a few companies to benefit from the US market, including Sun Pharma, Natco Pharma, Biocon and Cipla.</li><li>Sun Pharma is expected to gain on Winlevi ramp-up and growth in key products, including Cequa and Ilumya Revlimid launch in March 2022 will see some favourable impact in 4QFY22.</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.

4QFY22 is expected to be a flattish quarter for most Pharma companies in our coverage universe.We expect a few companies to benefit from the US market, including Sun Pharma, Natco Pharma, Biocon and Cipla.Sun Pharma is expected to gain on Winlevi ramp-up and growth in key products, including Cequa and Ilumya Revlimid launch in March 2022 will see some favourable impact in 4QFY22.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.

Pharmaceutical Sector: Sequentially Flattish Quarter Expected

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

ICICI Securities Limited

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.

<ul><li>Zydus Wellness (ZWL) is one of the FMCG companies present in healthcare, nutrition &amp; related products</li><li>The company has six brands i.e. Sugarfree, Complan, Glucon-D, Nycil, Everyuth &amp; Nutrilite</li><li>Target Price and Valuation: We value the stock at Rs 2200 on ascribing 30x FY24 earnings multiple</li></ul><div class="content-highlight">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.</div>

Zydus Wellness (ZWL) is one of the FMCG companies present in healthcare, nutrition &amp; related productsThe company has six brands i.e. Sugarfree, Complan, Glucon-D, Nycil, Everyuth &amp; NutriliteTarget Price and Valuation: We value the stock at Rs 2200 on ascribing 30x FY24 earnings multipleContent 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.

Zydus Wellness: Slower Growth with Trade Inventory Rationalisation

India

Zydus Wellness Ltd. processes dairy products.  The Company produces margarine, butter, and cheese.

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Zydus Wellness (ZYWL IN)

Zydus Wellness Ltd - Mixed Bag Q2

Zydus Wellness Limited’s (ZWL’s) Q2FY2025 numbers were mixed with revenue growing by 12% y-o-y to Rs. 493 crore (versus Rs. 475 crore expected),...

Sharekhan

Pharmaceutical Sector: Sequentially Flattish Quarter Expected

4QFY22 is expected to be a flattish quarter for most Pharma companies in our coverage universe. We expect a few companies to benefit from the US...

Nirmal Bang

Zydus Wellness: Slower Growth with Trade Inventory Rationalisation

The company has more than 850 distributors with direct reach of 0.55 million retail outlets. Its high gross margins at ~55% give it a leeway to...

ICICI Securities Limited

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