Aurobindo Pharma Share price: Sharekhan retains their Buy recommendation with a revised Price target of Rs 1100
Aurobindo Pharma Q3 FY21 revenue, operating profits and PAT were a tad below the estimates. Sales at Rs 6365 cr is up 8% yoy (slightly below estimates), attributable to an 11.3% yoy growth in the formulations segment, while API sales were down 13.6% yoy. OPM expanded by 100 BPS yoy to 21.5% (estimated OPM 22%) led by a 310 bps expansion in gross margins, which were partly offset by an increase in other expenses.
Aurobindo Pharma operating profits for the quarter at Rs 1368 cr is up by 13.3% yoy. Adjusting for one-off gains, PAT stood at Rs 836 cr, up 18.5% yoy but missed estimates: Reuters