Sharekhan's research report on Aurobindo Pharma
Q3FY2021 revenues, operating profits and PAT slightly lagged estimates; adjusting for one-off gains, PAT stood at Rs. 836 crore, up 18.5% y-o-y but missed estimates. Expected traction in injectable, strong growth outlook for US and Europe geographies would be the key growth drivers, while the areas of Vaccine and API would fuel the growth over the long term. Focus on building and developing a strong portfolio of specialty products (biosimilars, oncology, inhalers, transdermal patches, etc) would be key growth drivers.
Outlook
We retain our Buy recommendation on Aurobindo Pharma Limited (Aurobindo) with a revised PT of Rs. 1,100.
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