- Anti-Infectives and Respiratory have been challenging therapy areas over the last 3-4 years. Monsoon start got delayed this year, which affected the growth of these therapies in 1QFY24.
- The company has guided for lower double-digit (11-12%) growth for FY24. (INDIA)
- The company has built front-end presence in the US through the acquisition of Florida Pharmaceutical Products LLC. One month of revenue is part of consolidated numbers. The company is considering in-sourcing the marketing of some products sold by Teva through the newly acquired entity. This will take 3-4 months.
- Resolution of OAI for its Goa Plant II & III is expected by the end of FY24.
- The company is working on improving gross margin across business verticals.
- EBITDA margin guidance for FY24 has been cut to 17.5%
- Momentum in the API business will continue throughout FY24.
By keeping the challenges in regard of margin pressure and US business in notes, i guess the quarter would be good for accumulating stock around PBV 2.2 – 2.3 for 20-30% Return going ahead.
Disclosure : Not invested on current date.
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