External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

External broker reports(aggregated public sources)

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<p>CIPLA delivered a better-than-expected 3QFY22 performance, led by robust growth in the Domestic Formulation (DF) segment, steadily improving sales in North America (NA), and better operating leverage. This was partly offset by a momentary slowdown in API sales in the developed markets. We raise our FY22E/FY23E/FY24E EPS estimate by 3%/6%/4%, factoring in a) market share gains in already launched ANDAs and upcoming potential new launches, such as Lanreotide, b) strong growth in anchor consumer brands in India/South Africa, and c) moderation in the API business outlook.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

CIPLA delivered a better-than-expected 3QFY22 performance, led by robust growth in the Domestic Formulation (DF) segment, steadily improving sales in North America (NA), and better operating leverage. This was partly offset by a momentary slowdown in API sales in the developed markets. We raise our FY22E/FY23E/FY24E EPS estimate by 3%/6%/4%, factoring in a) market share gains in already launched ANDAs and upcoming potential new launches, such as Lanreotide, b) strong growth in anchor consumer brands in India/South Africa, and c) moderation in the API business outlook.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Superior execution drives India/US performance

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Cipla is a global pharma company with over 1,500+ products in 65 therapeutic categories, with over 50 dosage forms</li><li>Cipla supplies branded and generic medicines to over 170 countries globally.</li><li>Target Price and Valuation: We value Cipla at Rs 1100 i.e. 24x P/E on FY24E EPS of Rs 44.6 + | 31 NPV for gRevlimid.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Cipla is a global pharma company with over 1,500+ products in 65 therapeutic categories, with over 50 dosage formsCipla supplies branded and generic medicines to over 170 countries globally.Target Price and Valuation: We value Cipla at Rs 1100 i.e. 24x P/E on FY24E EPS of Rs 44.6 + | 31 NPV for gRevlimid.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Cipla: Strong Traction in Domestic, US; Outlook Positive

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<p>Federal Bank: Federal Bank (FB)'s Q3FY22 earnings were broadly in line with our estimates as declining credit costs (64bps) were partially offset by muted reflation in asset yields and lower other income. Asset quality continues to be impressive with negative net slippages, stable credit costs at 64bps, and a steady restructured pool (2.6%). While loan growth witnessed healthy traction (+12% YoY), asset yields continue to be soft, which is likely to reflate only gradually through exercising of pricing power and growth in unsecured retail (credit cards, PL, MFI, etc.).</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Federal Bank: Federal Bank (FB)'s Q3FY22 earnings were broadly in line with our estimates as declining credit costs (64bps) were partially offset by muted reflation in asset yields and lower other income. Asset quality continues to be impressive with negative net slippages, stable credit costs at 64bps, and a steady restructured pool (2.6%). While loan growth witnessed healthy traction (+12% YoY), asset yields continue to be soft, which is likely to reflate only gradually through exercising of pricing power and growth in unsecured retail (credit cards, PL, MFI, etc.).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Cipla, Torrent Pharma, Shriram Transport Finance Company, Supreme Industries,...

<p>The US business witnessed improved traction and grew ~1% QoQ, led by market share gains in Albuterol and Arformoterol. Its respiratory pipeline in the US (Abraxane, gAdvair, and gDulera), along with gRevlimid, offers good growth visibility in the medium term. Maintain BUY. Ciplas Q2 results were largely in line with estimates as strong growth trends in India, South Africa, and EM markets were partially offset by lower gross margin (~80-100bps impact, inventory provisioning). EBITDA margin, at 22.2%, largely came in line with company guidance.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

The US business witnessed improved traction and grew ~1% QoQ, led by market share gains in Albuterol and Arformoterol. Its respiratory pipeline in the US (Abraxane, gAdvair, and gDulera), along with gRevlimid, offers good growth visibility in the medium term. Maintain BUY. Ciplas Q2 results were largely in line with estimates as strong growth trends in India, South Africa, and EM markets were partially offset by lower gross margin (~80-100bps impact, inventory provisioning). EBITDA margin, at 22.2%, largely came in line with company guidance.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Cipla (Results Review 2QFY22): In-line quarter; upbeat on outlook. Maintain BUY

External broker reports(aggregated public sources), SMC Global

SMC Online

<p>Cipla Q1FY22, Net profit jumps to Rs 715 crore, beats estimates Pharma For the quarter ending June 2021, consolidated net sales (including other operating income) of Cipla has increased 26.65% to Rs 5504.35 crore compared to quarter ending june 2020. Sales of Phamaceuticals segment has gone up 26.21% to Rs 5,384.22 crore (accounting for 97.21% of total sales). Sales of New Ventures segment has gone up 32.39% to Rs 154.70...</p>
<div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Cipla Q1FY22, Net profit jumps to Rs 715 crore, beats estimates Pharma For the quarter ending June 2021, consolidated net sales (including other operating income) of Cipla has increased 26.65% to Rs 5504.35 crore compared to quarter ending june 2020. Sales of Phamaceuticals segment has gone up 26.21% to Rs 5,384.22 crore (accounting for 97.21% of total sales). Sales of New Ventures segment has gone up 32.39% to Rs 154.70...
Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Cipla Q1FY22, Net Profit Jumps to Rs 715 Crore, Beats Estimates

India

Cipla Limited manufactures and sells pharmaceutical and personal care products. The Company offers active pharmaceutical ingredients, and formulations in therapeutic areas, such as allergy, analgesic, anti malarial, anti-infectives, cardiology, dermatology and cosmeceuticals, diabetology, gastroenterology, steroids, iron chelators, nutritional products.

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Cipla Ltd (CIPLA IN)

Superior execution drives India/US performance

CIPLA delivered a better-than-expected 3QFY22 performance, led by robust growth in the Domestic Formulation (DF) segment, steadily improving sales...

Motilal Oswal

Cipla: Strong Traction in Domestic, US; Outlook Positive

65 therapeutic categories, with over 50 dosage forms. Cipla supplies branded and generic medicines to over 170 countries globally. Cipla derives...

ICICI Securities Limited

HSIE Results Daily: Cipla, Torrent Pharma, Shriram Transport Finance Company, Supreme Industries,...

Federal Bank: Federal Bank (FB)'s Q3FY22 earnings were broadly in line with our estimates as declining credit costs (64bps) were partially...

HDFC Securities

Cipla (Results Review 2QFY22): In-line quarter; upbeat on outlook. Maintain BUY

The US business witnessed improved traction and grew ~1% QoQ, led by market share gains in Albuterol and Arformoterol. Its respiratory pipeline in...

HDFC Securities

Cipla Q1FY22, Net Profit Jumps to Rs 715 Crore, Beats Estimates

Cipla Q1FY22, Net profit jumps to Rs 715 crore, beats estimates Pharma For the quarter ending June 2021, consolidated net sales (including other...

SMC Online

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Superior execution drives India/US performance

CIPLA delivered a better-than-expected 3QFY22 performance, led by robust growth in the Domestic Formulation (DF) segment, steadily improving sales...

Motilal Oswal

Cipla: Strong Traction in Domestic, US; Outlook Positive

65 therapeutic categories, with over 50 dosage forms. Cipla supplies branded and generic medicines to over 170 countries globally. Cipla derives...

ICICI Securities Limited

HSIE Results Daily: Cipla, Torrent Pharma, Shriram Transport Finance Company, Supreme Industries,...

Federal Bank: Federal Bank (FB)&#x27;s Q3FY22 earnings were broadly in line with our estimates as declining credit costs (64bps) were partially...

HDFC Securities

Cipla (Results Review 2QFY22): In-line quarter; upbeat on outlook. Maintain BUY

The US business witnessed improved traction and grew ~1% QoQ, led by market share gains in Albuterol and Arformoterol. Its respiratory pipeline in...

HDFC Securities

Cipla Q1FY22, Net Profit Jumps to Rs 715 Crore, Beats Estimates

Cipla Q1FY22, Net profit jumps to Rs 715 crore, beats estimates Pharma For the quarter ending June 2021, consolidated net sales (including other...

SMC Online

Federal Bank: Federal Bank (FB)'s Q3FY22 earnings were broadly in line with our estimates as declining credit costs (64bps) were partially...