In today’s briefing:
- Mani (7730 JP): Profit to Decline in Q2; China’s Worsening COVID Outbreak to Weigh on H2 Performance
- Cipla: Rigor on Portfolio Execution and Cash Generation Initiatives to Support Growth
Mani (7730 JP): Profit to Decline in Q2; China’s Worsening COVID Outbreak to Weigh on H2 Performance
- Mani Inc (7730 JP) shares have plunged 19% since we have published our bearish insight on the company on January 13.
- FY22 guidance implies 22% and 56%, y/y, decline in operating profit and profit attributable to owners of parent, respectively, in Q2FY22.
- We are cautious on H2FY22 recovery and financial performance of Mani due to worsening COVID-19 condition in China, which is one of its major markets.
Cipla: Rigor on Portfolio Execution and Cash Generation Initiatives to Support Growth
- We initiate coverage on CIPLA Ltd (CIPLA) with a BUY rating and a target price of Rs 1,200 (PE 24x for FY24E EPS), implying an upside of 15.5% from the current levels.
- CIPLA continuous to focus on the demand levers in the chronic and acute therapies and complex products in its existing as well as pipeline portfolio
- The company’s active advancement of innovative consumer-centric products is expected to accelerate the augmentation of the global consumer wellness franchise
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