ipca labs.............Buy

There is a report by ICICI-Direct which has analyzed the situation:

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There is also a report by Edelweiss:

IPCA Laboratories’ (IPCA), in another setback, has received import bans on its Indore and Silvassa facilities, close on heels of the Ratlam ban (Ratlam import alert), which means none of its facilities can now freely export to the US. Post the Ratlam ban, we had downgraded the stock as it was grappling with challenges both on business (EM currency headwinds, no US ramp up, pressure on institutional business) and regulatory (remediation, associated costs, other regulatory agencies) fronts. The current development has aggravated the situation and we believe recovery will be even slower than anticipated earlier. We cut our FY16/17 EPS by 17%/13% (13%/16% cut post the Ratlam alert) as we prune our margin estimate on higher costs and deteriorating mix. We downgrade to ‘REDUCE’ and trim our TP to INR600 (14x FY17E). IPCA remains our least preferred stock.

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