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

Sun Pharmaceutical Industries / Equity Bottom-Up

<ul><li>Motilal Oswal's research report onSun Pharma In this note, we explored the specialty pipeline of SUNP, examining products under development, the commercialized portfolio, and the competitive dynamics within each segment.</li><li>The overall R&amp;D expenditure is expected to increase by 33% YoY in FY24 and maintain an 18% CAGR over FY24-26 to support clinical development of certain assets.</li><li>Despite some delays in the clinical trial processes of Ilumya (additional indication), MM-II, and GL0034, the innovative/discovery pipeline continues to be the most promising within the India listed space.</li></ul><p><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></p>

Motilal Oswal's research report onSun Pharma In this note, we explored the specialty pipeline of SUNP, examining products under development, the commercialized portfolio, and the competitive dynamics within each segment.The overall R&amp;D expenditure is expected to increase by 33% YoY in FY24 and maintain an 18% CAGR over FY24-26 to support clinical development of certain assets.Despite some delays in the clinical trial processes of Ilumya (additional indication), MM-II, and GL0034, the innovative/discovery pipeline continues to be the most promising within the India listed space.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.

Sun Pharma - ‘Specialty’ Way of Driving Growth Prospects

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>ChrysCap is looking to raise around US$295m via selling a 2.8% stake in <a href="https://www.smartkarma.com/entities/mankind-pharma-ltd" target="_blank" data-smartkarma-citation="entities:36389:1" rel="noopener">Mankind Pharma</a>.</li>
<li>MP is a pharmaceutical company engaged in developing, manufacturing and marketing a range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products.</li>
<li>We have looked at the IPO, lock-up release and prior placement in our earlier notes. In this note, we talk about the current deal dynamics.</li>
</ul>


ChrysCap is looking to raise around US$295m via selling a 2.8% stake in Mankind Pharma.
MP is a pharmaceutical company engaged in developing, manufacturing and marketing a range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products.
We have looked at the IPO, lock-up release and prior placement in our earlier notes. In this note, we talk about the current deal dynamics.


Mankind Pharma Placement - Well Flagged, past Deals Have Done Well but Its Expensive

Global Healthcare Analyst

Tina Banerjee

Dr. Reddy's Laboratories / Equity Bottom-Up

<ul>
<li>In Q3FY24, <a href="https://www.smartkarma.com/entities/dr-reddy-s-laboratories-ltd" target="_blank" data-smartkarma-citation="entities:16406:1" rel="noopener">Dr. Reddy's Laboratories (DRRD IN)</a> posted highest ever revenue of INR72B, led by U.S. and Europe generics businesses, with contribution from both base business and new product launches.</li>
<li>Underperformance in the domestic market continued in Q3FY24. However, the company’s initiatives regarding innovative and new generic drugs for Indian market should place it for long-term accelerated growth.</li>
<li>Last month, Dr. Reddy's acquired MenoLabs, a leading women’s health and dietary supplement branded portfolio of seven products designed to provide health support and address symptoms of perimenopause and menopause.  </li>
</ul>


In Q3FY24, Dr. Reddy's Laboratories (DRRD IN) posted highest ever revenue of INR72B, led by U.S. and Europe generics businesses, with contribution from both base business and new product launches.
Underperformance in the domestic market continued in Q3FY24. However, the company’s initiatives regarding innovative and new generic drugs for Indian market should place it for long-term accelerated growth.
Last month, Dr. Reddy's acquired MenoLabs, a leading women’s health and dietary supplement branded portfolio of seven products designed to provide health support and address symptoms of perimenopause and menopause.  


Dr. Reddy's Laboratories (DRRD IN): US and Europe Drive Highest Ever Sales in Q3; Profit Surges 11%

Agilus Diagnostics Limited / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/agilus-diagnostics-limited" target="_blank" data-smartkarma-citation="entities:40210:1" rel="noopener">Agilus Diagnostics Limited (SRLL IN)</a> is looking to raise around US$200m in its upcoming India IPO.</li>
<li>Agilus Diagnostics Limited (Agilus) is a diagnostic testing service provider.</li>
<li>In this note, we look at the company’s past performance.</li>
</ul>



Agilus Diagnostics Limited (SRLL IN) is looking to raise around US$200m in its upcoming India IPO.
Agilus Diagnostics Limited (Agilus) is a diagnostic testing service provider.
In this note, we look at the company’s past performance.


Agilus Diagnostics Limited Pre-IPO - Still Recovering from COVID

<ul>
<li>In Q3FY24, <a href="https://www.smartkarma.com/entities/cipla-ltd" target="_blank" data-smartkarma-citation="entities:3918:1" rel="noopener">Cipla Ltd (CIPLA IN)</a> recorded revenue of INR66B, up 14% YoY, and EBITDA margin of 24.2%, driven by double-digit growth across India, North America, and South Africa.</li>
<li>North America business reported highest ever revenue of $230M. India revenue is up 12% YoY, supported by growth across branded prescription, trade generics, and consumer health.</li>
<li>EBITDA margin for the full year is trending at a higher end of earlier guidance range of 23–24%. Peptide product launches in the U.S. should strengthen near-term growth prospect.</li>
</ul>


In Q3FY24, Cipla Ltd (CIPLA IN) recorded revenue of INR66B, up 14% YoY, and EBITDA margin of 24.2%, driven by double-digit growth across India, North America, and South Africa.
North America business reported highest ever revenue of $230M. India revenue is up 12% YoY, supported by growth across branded prescription, trade generics, and consumer health.
EBITDA margin for the full year is trending at a higher end of earlier guidance range of 23–24%. Peptide product launches in the U.S. should strengthen near-term growth prospect.


Cipla (CIPLA IN): Q3FY24 Result- Continued Growth Trajectory Across Key Markets; Positive Outlook

India

Sun Pharmaceutical Industries Limited manufactures and markets pharmaceuticals for domestic and international distribution. The Company's pharmaceutical portfolio includes drugs in the areas of diabetes, cardiology, neurology, psychiatry and  gastroenterology.

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Sun Pharmaceutical Industries (SUNP IN)

Sun Pharma - ‘Specialty’ Way of Driving Growth Prospects

The overall R&D expenditure is expected to increase by 33% YoY in FY24 and maintain an 18% CAGR over FY24-26 to support clinical development of...

Motilal Oswal

Mankind Pharma Placement - Well Flagged, past Deals Have Done Well but Its Expensive

ChrysCap is looking to raise around US$295m via selling a 2.8% stake in Mankind Pharma. In this note, we talk about the deal dynamics.

Sumeet Singh

Dr. Reddy's Laboratories (DRRD IN): US and Europe Drive Highest Ever Sales in Q3; Profit Surges 11%

Dr. Reddy's Laboratories achieves record revenue in Q3FY24, driven by volume gains and new launched in U.S. and Europe. The company has recently...

Tina Banerjee

Agilus Diagnostics Limited Pre-IPO - Still Recovering from COVID

Agilus Diagnostics Limited (SRLL IN) is looking to raise around US$200m in its upcoming India IPO. In this note, we talk about the company's past...

Sumeet Singh

Cipla (CIPLA IN): Q3FY24 Result- Continued Growth Trajectory Across Key Markets; Positive Outlook

Cipla reports strong Q3FY24 result with 14% YoY sales growth and 24.2% EBITDA margin. US business achieves record high sales. Full-year EBITDA...

Tina Banerjee

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Sun Pharma - ‘Specialty’ Way of Driving Growth Prospects

The overall R&D expenditure is expected to increase by 33% YoY in FY24 and maintain an 18% CAGR over FY24-26 to support clinical development of...

Motilal Oswal

Mankind Pharma Placement - Well Flagged, past Deals Have Done Well but Its Expensive

ChrysCap is looking to raise around US$295m via selling a 2.8% stake in Mankind Pharma. In this note, we talk about the deal dynamics.

Sumeet Singh

Dr. Reddy's Laboratories (DRRD IN): US and Europe Drive Highest Ever Sales in Q3; Profit Surges 11%

​Dr. Reddy's Laboratories achieves record revenue in Q3FY24, driven by volume gains and new launched in U.S. and Europe. The company has recently...

Tina Banerjee

Agilus Diagnostics Limited Pre-IPO - Still Recovering from COVID

Agilus Diagnostics Limited (SRLL IN) is looking to raise around US$200m in its upcoming India IPO. In this note, we talk about the company's past...

Sumeet Singh

Cipla (CIPLA IN): Q3FY24 Result- Continued Growth Trajectory Across Key Markets; Positive Outlook

​Cipla reports strong Q3FY24 result with 14% YoY sales growth and 24.2% EBITDA margin. US business achieves record high sales. Full-year EBITDA...

Tina Banerjee

Dr. Reddy's Laboratories achieves record revenue in Q3FY24, driven by volume gains and new launched in U.S. and Europe. The company has recently...

Cipla reports strong Q3FY24 result with 14% YoY sales growth and 24.2% EBITDA margin. US business achieves record high sales. Full-year EBITDA...