bullish
Torrent Pharma (Results Review Q2FY22): Tepid quarter; steady outlook. Maintain ADD
The company repaid debt of INR4.9bn in H1 and is on track to reduce it by ~INR10bn in FY22. We reduce our EBITDA estimates by 4-5% for FY22-23e and roll forward our TP, based on Sep'23e estimat...
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