Aurobindo Pharma Research Report By Motilal Oswal

In the last four years, Aurobindo Pharma’s PAT has grown 10x while its market cap has grown 12x. Post this stupendous performance, the obvious question that stands before us is, “How much steam is still left?” To understand the future outlook, we spent a full day with Aurobindo Pharma (ARBP), meeting its senior management (Mr PV Ramprasad Reddy, Executive Chairman, Aurobindo Pharma USA, and Mr Sanjeev Dani, European and EM Business Head) and visiting the company’s largest facility that supplies to the US (Unit VII). Though ARBP has reached a size where it is competing with the market leaders, Mr Reddy has a defined plan for the next four years during which he sees potential for almost all business verticals to more than double