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Jubilant Life Sciences (CMP: `322, TP: `415, Outperform)
• We expect revenues to have grown marginally by 1.2% YoY to `7.01bn largely on account of rebound in revenue from the contract manufacturing business.
• EBITDA is likely to show a marginal 4% decline YoY due to a 109bps contraction in margin.
• Net profit will likely show a 36% expansion on account of lower base in 2QFY10 due to forex loss on exports and FCCBs.
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