Buy Aurobindo Pharma: target of Rs 1024: Sharekhan

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Sharekhan's research report on Aurobindo Pharma

Aurobindo’s US business to stage a marked improvement led by sturdy pipeline of new products, expected traction in the lucrative injectables space and growth in the recently launched products. Further, Aurobindo is investing ~$180 -200 million (~Rs. 1,350-1,500 crore each) towards capacity expansion in FY2021 and FY2022 and encompassing areas of injectables and oral solids across geographies. Aurobindo’s sales and PAT are expected to clock a CAGR of 10% and 14%, respectively, over FY2020-FY2023.

Outlook

We retain our Buy recommendation on Aurobindo Pharma Limited (Aurobindo) with an unchanged PT of Rs. 1,024.

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