Sharekhan's research report on Cipla
Although sales deferrals and realignment of domestic business affected sales growth, company posted strong operating numbers for Q1FY2020. Cipla faces minimal regulatory risks at key facilities; Improved product mix and operational efficiencies to boost profitability.
Outlook
We maintain our Buy recommendation with a downwardly revised price target (PT) of Rs. 650. We expect the company to report sales and profit CAGRs of 14% and 40%, respectively, over FY2019-FY2021E.
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