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

ICICI Securities Limited

External broker reports(aggregated public sources)

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. 

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Equity Bottom-Up

Syngene International Ltd / Equity Bottom-Up

<ul><li>Syngene is a contract research, development and manufacturing organisation catering mainly to global innovator pharma\chemical companies </li><li>Syngene serves these players, which outsource some or substantial part of their business in the product development life cycle</li><li>Target Price &amp; Valuation: We value Syngene at Rs 710 i.e. 40x FY24E EPS of |17.8</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>

Syngene is a contract research, development and manufacturing organisation catering mainly to global innovator pharma\chemical companies Syngene serves these players, which outsource some or substantial part of their business in the product development life cycleTarget Price &amp; Valuation: We value Syngene at Rs 710 i.e. 40x FY24E EPS of |17.8Content 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.

Syngene International Ltd: Guidance Raised on Upbeat Numbers, Outlook

<p>Revenue breakup: Discovery services (35%): FTE engagements with high renewability; Dedicated services (32%): Long-term strategic alliances that last usually five years or more, Development and manufacturing (33%): FFS...</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>

Revenue breakup: Discovery services (35%): FTE engagements with high renewability; Dedicated services (32%): Long-term strategic alliances that last usually five years or more, Development and manufacturing (33%): FFS...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.

Syngene International: Decent Numbers Despite Some Margin Pressure

<p>With elite client additions like Amgen, Zoetis, Herbalife, GSK, etc, and multiple year extension of BMS, Baxter contracts, the company remains well poised to capture opportunities in the global CRO space...</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>

With elite client additions like Amgen, Zoetis, Herbalife, GSK, etc, and multiple year extension of BMS, Baxter contracts, the company remains well poised to capture opportunities in the global CRO 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.

Syngene International: Mixed Numbers; Remdesivir Impacts Margins

India

Syngene International Limited provides contract research and manufacturing services to the pharmaceutical industry. The Company offers chemical and formulation development, polymer research, large molecule and clinical development, and stability services. Syngene International serves customers worldwide.

Syngene International Ltd (SYNG IN)

Syngene International Ltd: Guidance Raised on Upbeat Numbers, Outlook

Revenue breakup: Discovery services (35%): FTE engagements with high renewability; Dedicated services (32%): Long-term strategic alliances that...

ICICI Securities Limited

Syngene International: Decent Numbers Despite Some Margin Pressure

Revenue breakup: Discovery services (35%): FTE engagements with high renewability; Dedicated services (32%): Long-term strategic alliances that...

ICICI Securities Limited

Syngene International: Mixed Numbers; Remdesivir Impacts Margins

With elite client additions like Amgen, Zoetis, Herbalife, GSK, etc, and multiple year extension of BMS, Baxter contracts, the company remains well...

ICICI Securities Limited