View on Sanofi India 2QCY2015 Results: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research - Pharma, Angel Broking) on Sanofi India 2QCY2015 Results:

"Sanofi India, announced its 2QCY2015 results, which were below expectations, on sales and net profit front. The company posted a 5.7% yoy growth in revenues to INR 514.3cr V/s INR 538.8cr expected. On operating front, the gross margins came in at 48.3% V/s 47.8% v/s expected and 49.4% in the last corresponding period. The OPM came in at 16.7% V/s 17.0% expected and 16.2% during the last corresponding period. The other expenses which dipped by 8.5% during the period aided the margin expansion, inspite of gross margin contraction. Consequently, PAT came in at INR 64.2cr V/s INR 70.1cr expected, a yoy growth of 11.7%. The other income during the quarter was INR 45.3cr V/s INR 32.6cr in 2QCY2014, while tax as percent of PBT was 37.5% V/s 34.1% in 2QCY2014. We maintain our ACCUMULATE rating on the stock with a target price of INR 3,749."

Shares of Sanofi India Ltd was last trading in BSE at Rs.3628.65 as compared to the previous close of Rs. 3517.8. The total number of shares traded during the day was 752 in over 186 trades.

The stock hit an intraday high of Rs. 3655 and intraday low of 3535.55. The net turnover during the day was Rs. 2723907.

Source : Equity Bulls

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