October 30, 2023 / 16:58 IST
The Nifty Total Market Index: A Comprehensive Glimpse into India's Economic Landscape
The launch of new anti-diabetic products and line extensions are likely to drive future growth. We expect improved performance due to continued strong growth of its six flagship brands which grew faster than the market growth. SIL is among the top picks in the pharma sector.
Outlook
We retain our Buy rating on Sanofi India (SIL) and revise our TP to Rs 5,330 (earlier Rs 5,880) based on 25x December’18E EPS of Rs 213.4. SIL’s results for Q4CY16 were below our expectations and were impacted by demonetisation. The company’s revenue increased 4% YoY, margin declined 180bps to 18.1% and net profit fell 4%.
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