Aurobindo Pharma |
Geared to enter a billion dollar club |
BUY
CMP: Rs 1,066 Target Price: Rs 1,242
n Hyderabad SEZ facility becomes operational, capacity to ramp-up substantially by FY11E
n Higher capacity utilization and entry into niche segments will lead to margin improvement
n Tie up for ECB loan of US$125mn will considerably reduce the leverage risk on FCCBs
n Deal with Astrazeneca covers 25 oral solid and sterile products across 40 countries, supplies to commence by end of FY12E
n The company has envisioned a mission to be US$2bn company by FY14E, implying FY10-14E revenue CAGR of ~26%
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