Syngene - operationally better performance: Angel Broking

Views of Mr. Shrikant Akolkar (Research Analyst, Angel Broking):

"Syngene international reported slightly better results than our expectations. Revenues grew by 8% YoY however sequentially, revenue have remained flat. EBITDA came in at INR 96cr vs. our expectation of INR 92cr. PAT came in at INR 62cr vs. our expectation of INR 61cr. Margin levels are maintained on YoY basis which we view positively. In 3QFY17 and 4QFY17, company reported 350bps and 95bps decline in the EBITDA margins respectively which was due to the fire incident at one of its facility. Overall we see these results positive and maintain BUY rating with a target price of INR 564."

Source : Equity Bulls

Keywords