Sharekhan is bullish on Zydus Wellness has recommended buy rating on the stock with a target price of Rs 550 in its research report dated July 31, 2020.
Sharekhan's research repor on Zydus Wellness
We expect the company to report revenue and earnings CAGR of 8.7% and 20%, respectively, during FY2020-2022E. Management eyes revenue growth of 6-8%, EBITDA growth of 10-12% and net debt-equity ratio of 2x during FY2021E. Q1FY21 revenue fell by 1% as volumes sold stayed unchanged, adjusted EBITDA margin improved by 508 bps to 21.8%; adjusted PAT increased by 70.7%.
Outlook
We stick to our Buy rating on UPL Limited (UPL) with a revised price target of Rs. 550.
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