TORRENT PHARMA reported a year-on-year growth of 18.3 per cent in the third quarter. The company reported a profit of Rs 297 crore in the third quarter of FY 2021 as against a profit of Rs 251 crore in the same quarter last year.
The company’s revenue has also increased in the third quarter. On an annual basis, the company’s revenue grew 1.5 per cent to Rs 1,995 crore in the third quarter from Rs 1,966 crore in the same quarter last year.
Growth is under pressure in the US and Brazil markets and growth in domestic business remains sluggish. The company has announced an interim dividend of Rs 20 per share. Know what is the investment opinion of brokerage
Opinion on CREDIT SUISSE TORRENT PHARMA
CREDIT SUISSE gave an underperform rating on TORRENT PHARMA and set the target at Rs 2280. He says the sector has outperformed and margins have been strong. On the other hand, there are signs of weakness in US markets. But Indian business is expected to continue to grow better. He has said that the stock’s position in the medium term is attractive and at the same time has lowered the EPS estimate of the stock by 2 percent for FY 2021-23.
CLSA’s opinion on TORRENT PHARMA
CLSA has a buy rating on TORRENT PHARMA and set the target at Rs 3560.
Opinions on TORRENT PHARMA by GOLDMAN SACHS
GOLDMAN SACHS has Buy rating on TORRENT PHARMA and set the target at Rs 3320.
Opinions on CITI’s TORRENT PHARMA
CITI has given a buy rating on TORRENT PHARMA and has set a target of Rs 3100.