Buy Abbott India, target price Rs 25243 : Sharekhan by BNP Paribas

Sharekhan by BNP Paribas has buy call on Abbott India with a target price of Rs 25243.The current market price of Abbott India is Rs 19974.05.

Abbott India, incorporated in the year 1944, is a Large Cap company (having a market cap of Rs 42545.46 Crore) operating in Pharmaceuticals sector.

Abbott India key Products/Revenue Segments include Injectables, Tablets, Liquids, Capsules, Service Income, Others, Ointments, Granules, Powder, Other Operating Revenue, Export Incentives, Scrap for the year ending 31-Mar-2022.

Financials
For the quarter ended 31-12-2022, the company has reported a Standalone Total Income of Rs 1366.42 Crore, down -3.30 % from last quarter Total Income of Rs 1413.01 Crore and up 9.92 % from last year same quarter Total Income of Rs 1243.10 Crore. Company has reported net profit after tax of Rs 246.83 Crore in latest quarter.

The company’s top management includes Mr.Munir Shaikh, Mr.Vivek V Kamath, Mr.Rajiv Sonalker, Mr.Kaiyomarz Marfatia, Mr.Ambati Venu, Mr.Sabina Ewing, Mr.Sudarshan Jain, Ms.Anisha Motwani, Ms.Shalini Kamath. Company has SRBC & Co LLP as its auditors. As on 31-12-2022, the company has a total of 2 Crore shares outstanding.

Investment Rationale
AIOCD data showed that Abbott India’s sales growth has been beating Indian PharmaMarket (IPM’s) growth for the past several months. This indicates resilience of the Abbott’s key brands across focused therapies such as women’s health and gastro (largest contributor to sales).

Promoter/FII Holdings
Promoters held 74.99 per cent stake in the company as of 31-Dec-2022, while FIIs owned 0.2 per cent, DIIs 8.36 per cent.