Aurobindo Share price: Sharekhan says BUY, pegs target at Rs 1185
Sharekhan says that Aurobindo Pharma reported a weak performance for the quarter and the adjusted PAT missed estimates. Sales for the quarter at Rs 6002 cr declined by 2.5% yoy, attributable to a 3.6% drop in the formulations segment owing to a 4.5% yoy decline in the US while Europe sales were lower by 6% yoy. The API sales were up 5% yoy for the quarter. The operating profits for the quarter at Rs 1274.6 cr, declined by 5% yoy, while the operating margins 21.2% declined by 56bps yoy and missed estimates
Aurobindo Pharma has filed for around 55 ANDA’s in FY21 and this provides comfort on a strong product pipeline that could unveil going ahead: Reuters