Views on Indoco Remedies results 4QFY2014 - Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research - Pharma, Angel Broking) on Indoco Remedies results 4QFY2014

"Indoco Remedies, reported results better than expected results, except on the sales front. On the sales front, the company posted a top-line growth of 15.8% to Rs. 186cr V/s Rs. 214.6cr expected. The growth on the sales would be aided by the domestic and exports which grew by 14.3% yoy and 18.2% yoy respectively.The OPM's came in at 18.6% V/s expected 16.5%, posting gains of 2.1% yoy. This came on back of strong GPM, gains which exapaneded by 680bps to end the period at 67.0%. This aided the net profit to come in at Rs. 18.6cr, a yoy of 44.4%, higher than expected Rs. 15.6cr. Currently, we have a Neutral rating on the stock."

Indoco Remedies (CMP: Rs. 147/ TP: -/ Upside: -)

Shares of INDOCO REMEDIES LTD. was last trading in BSE at Rs.156.55 as compared to the previous close of Rs. 155.75. The total number of shares traded during the day was 17486 in over 1204 trades.

The stock hit an intraday high of Rs. 161.7 and intraday low of 154. The net turnover during the day was Rs. 2752693.

Source : Equity Bulls

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