Sharekhan's research report on Torrent Pharmaceuticals
Q1FY2020 quarterly operating performance of Torrent Pharmaceuticals Limited was better than our expectations and is sustainable. USFDA classified Dahej Facility under OAI; Although FY2020 numbers may not be impacted, future product approvals from this facility could get delayed. USFDA response is awaited. We expect the company to report sales and adjusted profit CAGR of 17% and 43%, respectively, over FY2019-FY2021E.
Outlook
We maintain our Hold recommendation on the stock with unchanged PT of Rs. 1,720.
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