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Entry Price

490.00

Target

575.00

Recommend Date

11-02-2021

Return

17.35 %
BUY

Date : 11-02-2021

Q3FY21 revenue grew 53.8% YoY to | 275 crore amid 1.75x growth in pharma CRAMS division sales to | 217 crore. However, specialty chemical CRAMS nearly halved to | 35 crore whereas formulation sales fell 30% to | 23 crore. More importantly, EBITDA margin was at 50.2% (up 568 bps YoY) in Q3 on the back of better operational leverage, favourable product mix. Hence, EBITDA grew 73.5% to | 138 crore. PAT nearly doubled YoY to | 114 crore