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India Equity Research Reports, IPO and Stock News
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As a part of increasing its geographical spread, the company is entering in Japanese market by the end of the current fiscal. It has
received accreditation from Japanese Ministry of Health for its Patalganga facility. This facility manufactures active pharmaceutical
ingredients (API). Elder Pharma is targeting for 1-2% market share of $ 70bn Japanese Pharmaceutical market.
To support its expansion plans, the company is looking to increase its manpower. It will invest upto ` 550mn in the next two years for
this. The company is planning to increase its sales force by 1,000 in the next two-three years.
Valuation
On the basis of P/E, it is currently trading at 8.72x and 5.82x for FY12E and FY13E. At the current level, the stock is trading at 1.04x
to the book value of FY12E and 0.88x to the book value of FY13E. We expect the consolidated revenue and PAT will grow at a
CAGR of 31% and 35% respectively over FY10 to FY13E. We set the target price at ` 405 i.e; an appreciation of around 16% from
the current level
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
As a part of increasing its geographical spread, the company is entering in Japanese market by the end of the current fiscal. It has
received accreditation from Japanese Ministry of Health for its Patalganga facility. This facility manufactures active pharmaceutical
ingredients (API). Elder Pharma is targeting for 1-2% market share of $ 70bn Japanese Pharmaceutical market.
To support its expansion plans, the company is looking to increase its manpower. It will invest upto ` 550mn in the next two years for
this. The company is planning to increase its sales force by 1,000 in the next two-three years.
Valuation
On the basis of P/E, it is currently trading at 8.72x and 5.82x for FY12E and FY13E. At the current level, the stock is trading at 1.04x
to the book value of FY12E and 0.88x to the book value of FY13E. We expect the consolidated revenue and PAT will grow at a
CAGR of 31% and 35% respectively over FY10 to FY13E. We set the target price at ` 405 i.e; an appreciation of around 16% from
the current level
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