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

ICICI Securities Limited

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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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

Tatva Chintan Pharma Chem / Equity Bottom-Up

<div><div><div><div><ul><li>Tatva Chintan’s Q4FY22 revenue declined 9.3% YoY and was 11% below our estimates on higher dip in SDA revenue.</li></ul><div><div><div><ul><li>However, gross margin expansion of 280bps QoQ, despite inferior revenue mix, was a positive surprise.</li></ul><div><div><div><div><ul><li>It anticipates SDA revival only in H2FY23, and has guided for flattish revenue for FY23.</li></ul></div></div></div></div></div></div></div></div></div></div></div><p><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></p>

Tatva Chintan’s Q4FY22 revenue declined 9.3% YoY and was 11% below our estimates on higher dip in SDA revenue.However, gross margin expansion of 280bps QoQ, despite inferior revenue mix, was a positive surprise.It anticipates SDA revival only in H2FY23, and has guided for flattish revenue for FY23.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.

Tatva Chintan Pharma Chem - Strong Pipeline of High-Value New Products