Visit http://indiaer.blogspot.com/ for complete details Ipca Laboratories Ltd |
In-line; maintain Buy |
BUY
CMP: Rs 298 Target Price: Rs 336
n Despite strong revenue growth operating performance was impacted due to higher staff and other expenses
n Strong revenue growth was driven by 29% growth in domestic formulation business and 27% growth in the exports formulations business
n Addition in the field force has impacted short term profitability but long term growth visibility remains intact
n Maintain earning estimates and Buy rating with a target of Rs336
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