Views on Dishman Pharma 2QFY2016 Result: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research - Pharma, Angel Broking) on Dishman Pharma 2QFY2016 Results:

"For 2QFY2016, company posted results lower than expected on sales front, while a higher other income, aided net profit to come marginally higher than expected. The company posted a 4.8% YoY dip in sales to end the period at INR 374cr V/s INR 392cr in 2QFY2015. The CRAMS (INR 269.6cr) posted a growth of 7.1% , while other segment (INR 103.9cr), a dip of 29.8% YoY. On operating front, the GPM, came in at 75.8% V/s 72.3% expected and 69.7% in 2QFY2015. However, in spite of the same, the OPM came in at 22.5% V/s 22.0% expected and V/s 20.5% in 2QFY2015. The net profit consequently came in at INR 36.5cr V/s INR 35.6cr expected and V/s INR 33.4cr in 2QFY2015, a YoY growth of 9.4%. The other income during the period came in at INR 15.1cr V/s INR 7.8cr in 2QFY2015. We maintain our NEUTRAL stance on the stock."

Shares of DISHMAN PHARMACEUTICALS & CHEMICALS LTD. was last trading in BSE at Rs.362.05 as compared to the previous close of Rs. 345.55. The total number of shares traded during the day was 322310 in over 7737 trades.

The stock hit an intraday high of Rs. 365 and intraday low of 344.95. The net turnover during the day was Rs. 116030452.

Source : Equity Bulls

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