Hold Aurobindo Pharma; target of Rs 665: KR Choksey
In Q4FY23, Aurobindo reported a revenue of INR 64,730 Mn (+11.04% YoY and +1.0% QoQ) driven by healthy growth in US/ ROW markets and the API business. For FY23, the company reported a revenue of INR 2,48,553.8 Mn. During the quarter, EBITDA grew by 2.9% YoY and 5% QoQ to INR 10,022 Mn. The margins contracted by 129 bps YoY to report to 15.5%(+59 bps QoQ), the dip in the margins was as a result of change in product mix and one off expenses of INR 400-450 mn. The net profit for the quarter stood at INR 5,109 Mn (-11.4% YoY and +4.1% QoQ). The net profit margins contracted by 203bps YoY( +23bps QoQ) .EPS during the quarter stood at INR 8.6 against INR 8.2 in Q3FY23 and INR 9.8 in Q4FY22.
