Geojit recommends buying Torrent Pharmaceuticals stock, setting a target price of Rs 3590, according to their research report dated August 01, 2024.
Geojit’s Take on Torrent Pharmaceuticals
Torrent Pharmaceuticals Ltd (TPL) is involved in researching, developing, manufacturing, and marketing generic drugs in India, the US, Germany, Brazil, and other countries. The company offers products across various therapeutic areas. In Q1FY25, their consolidated revenue grew by 10.3% year-on-year to Rs. 2,859 crore, driven by strong performance in India and Germany. EBITDA rose by 14.3% year-on-year to Rs. 904 crore, with the margin improving by 110 basis points to 31.6%, thanks to cost optimization efforts.
Outlook
With ongoing cost-efficiency measures and declining raw material prices, Geojit upgrades the stock to a BUY with a revised target price of Rs. 3,590, based on 47 times the FY26 estimated adjusted earnings per share.
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