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4,728
7,715
2,583
4,056
580
6,957
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3,406
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1,705
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Steady growth in its domestic formulations business, apart from higher Given its strong presence in the two-wheeler As Bajaj Finance has an established direct The noteworthy success in biosimilars has helped this stock gain a little
market penetration in the US and Africa, is a huge positive for the market, the potential demand shift from the relationship with dealers and manufacturers over 25 per cent after the June quarter results. Despite the run-up,
company. It saw consolidated net profit grow from ~112 crore in FY13 to unorganised to the organised sector after of consumer goods, its business model is analysts such as those at Citi remain overweight on Biocon and have
~406 crore in FY16. implementation of GST will be the key trigger considered robust in the segment. This aids raised their earnings per share target by seven per cent in FY17.
The key trigger would be the performance of its recently launched for India’s second largest battery maker, the yearly 40 per cent growth in customer “Biocon’s high leverage to the lucrative global biosimilars
drug, G-Zegerid, which for now has little competition in the US. Used to catering to the automotive and industrial acquisition, without compromising on asset opportunity and the meaningful progress in targeting the developed
treat stomach and oesophagus problems, this drug has incremental segments. Higher growth in the replacement quality. After the June quarter results, markets lead us to value it at a premium to other Indian pharma
revenue potential of $13-15 million for Ajanta. Analysts at Anand Rathi market should boost profit. Even otherwise, analysts at JM Financial expect the financier’s companies of similar size,” say Citi’s analysts. Its Malaysian insulin
have, thus, raised their FY17 revenue and net profit estimates by 9.8 per the business outlook remains good. Analysts earnings to grow at 38 per cent on an annual facility which will go on stream from the second half of FY17 would also
cent and 12.2 per cent, respectively. at Motilal Oswal Securities expect revenues basis in FY16-18 and the loan book to grow 35 support earnings growth.
and earnings to expand by 19 per cent and 25 per cent during this period.
per cent, respectively, over FY16-18.
145
4,000 520 Kansai will gain from Pay 3,600 1,220 segment’s loan book grew 18
3,928
136
4,296
130 124
3,165
NATCO PHARMA PAGE INDUSTRIES PROCTER & GAMBLE HYGIENE TATA ELXSI
CMP (~) 680 CMP (~) 15,198 CMP (~) 6,570 CMP (~) 1,569
1-year return (%) 50.7 1-year return (%) 6.1 1-year return (%) 8.7 1-year return (%) -15.2
PE ratio (x) 74.7 PE ratio (x) 72.9 PE ratio (x) 50.4 PE ratio (x) 31.6
PE ratio FY17E (x) 36.1 PE ratio FY17E (x) 57.4 PE ratio FY17E (x) 45.5 PE ratio FY17E (x) 24.2
Debt-equity (x) 0.1 Debt-equity (x) 0.3 Debt-equity (x) Nil Debt-equity (x) Nil
RoE (%) 11.8 RoE (%) 52.2 RoE (%) 28.0 RoE (%) 46.3
Indian generics players For these reasons, Angel Broking expect also fast growing.
2,732
1,409
1,965
to overcome sector analysts at Ambit Capital P&G Hygiene’s revenue Analysts at Motilal Oswal
1,247
2,923
1,075
headwinds, justifying its expect the company to to grow over 14 per cent Securities believe the
2,482
premium valuation. The deliver 30 per cent yearly in FY16-18 (year two divisions together
1,749
1,606
1,088
700 240 US patent verdict in 1,000 270 earnings growth 1,200 460 ending June), due to 500 170 can help it post 24 per
favour of its marketing between FY17 and FY21, strong brands and cent annual growth
partner Mylan for and its return on capital distribution network between FY16 and FY18,
0 140 multiple sclerosis drug 0 200 employed to rise to 57 0 400 while consensus sees 0 150 higher than the
copaxone also works to per cent, from 42 per earnings growing 18 per consensus estimate of
E: Estimates E: Estimates June ended E: Estimates E: Estimates
its advantage. cent in FY16. cent in FY16-18. 15.6 per cent.
CMP: Current market price as on Sep 2, 2016; PE (price-to-earnings) ratio (x) is for trailing 12 months; NA: Not applicable as they are finance companies; RoE: Return on equity; E: Estimates
Source: Bloomberg Data compiled by BS Research Bureau