Motilal Oswal has given Buy recommendation for Ipca Laboratories recommended buy rating on the stock with a target price of Rs 1190 in its research rep with a target price of Rs. 1190 in its research report issued on Feb 15, 2022
Motilal Oswal’s research report on Ipca Laboratories
IPCA’s 3QFY22 earnings was lower than our estimate. The reduced business in Sartans and muted business in the UK outweighed the robust performance in the Domestic Formulation (DF) segment. We cut our EPS estimate by 11%/10%/10% for FY22E/FY23E/FY24E to factor in: a) a gradual recovery in Losartan offtake, b) delay in product approvals in the UK market, c) higher raw material cost, and d) increased logistics cost.