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CLSA has maintains outperform on Torrent Pharma, raises target price to Rs 2,050

CLSA has maintained outperform rating on Torrent Pharmaceuticals and raised target price to Rs 2,050 from Rs 1,950. The stock ended down 5.6% at Rs 1,913.25 on Tuesday while the BSE Sensex closed 188.26 points down (-0.46%) at 40,966.86.

Company Financials

For the quarter ended 31-12-2019, the company has reported consolidated sales of Rs 1924.00 crore, down -2.24 % from last quarter sales of Rs 1968.00 Crore and down -1.23 % from last year same quarter sales of Rs 1948.00 Crore Company has reported net profit after tax of Rs 251.00 Crore in latest quarter.

The company’s top management includes Dr.Chaitanya Dutt, Mr.Haigreve Khaitan, Mr.Samir Mehta, Mr.Shailesh Haribhakti, Mr.Sudhir Mehta, Ms.Ameera Shah, Ms.Nayantara Bali. Company has BSR & Co. LLP as its auditors As on 31-12-2019, the company has a total of 169,222,720 shares outstanding.

Investment Rationale


The brokerage has raised earnings estimates by 1-3% after Q3 earnings beat estimates. US revenue was flat sequentially and will likely decline in FY21 as the US FDA issues at its key manufacturing sites will take time to resolve, said CLSA. India will be a key medium-term growth driver, said CLSA.

Source: Economic Times