Buy Sun Pharma, target price Rs 2,280: Motilal Oswal Financial Services
buy call on Sun Pharma with a target price of Rs 2,280. The current market price of Sun Pharma is Rs 1869.85 .Sun Pharmaceutical Industries, incorporated in 1993, is a Large Cap company with a market cap of Rs 450271.20 crore, operating in pharmaceuticals sector.
Sun Pharmaceutical Industries' key products/revenue segments include pharmaceuticals and other operating revenue for the year ending 31-Mar-2024.
Financials For the quarter ended 30-09-2024, the company has reported a Consolidated Total Income of Rs 13645.39 crore, up 3.49% from last quarter Total Income of Rs 13185.30 crore and up 9.29% from last year same quarter's Total Income of Rs 12486.02 crore. The company has reported net profit after tax of Rs 3030.67 crore in the latest quarter.
Investment Rationale
Motilal Oswal Financial Services says Sun Pharma continues to implement efforts toward sustainable levers of growth, such as: a) adding products/improving prescriptions for specialty portfolio, b) clinical development of differentiated products, and c) volume/new introduction in the branded generics market. Considering the scope of R&D. The brokerage believes the R&D spend can be lower than guided for FY25, thereby driving a better margin over the near term. We expect 10%/14%/17% revenue/EBITDA/PAT CAGR over FY25-27. Motilal Oswal has reiterated a BUY.
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