Aurobindo Pharma Q4 Review - Below Par Numbers; Progress On New Ventures Key: ICICI Direct

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ICICI Direct Report

Aurobindo Pharma Ltd.'s revenues de-grew 2.5% YoY to Rs 6,002 crore tracking 4.5% YoY decline in U.S. to Rs 2,856 crore and a 6.0% YoY decline in Europe formulations to Rs 1,553 crore.

Rest of world markets also declined, posting 18.8% YoY de-growth to Rs 306 crore.

On the other hand, antiretroviral drugs segment grew 28.7% YoY to Rs 491 crore.

Active pharmaceutical ingredient segment grew 5.1% YoY to Rs 794 crore.

Ebitda margins remained flat, down 13 basis points YoY at 21.2% (our estimate: 20.7%).

Ebitda de-grew 3.2% YoY to Rs 1,275 crore against our estimates of Rs 1,354 crore.

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