Sanofi India Ltd, incorporated in the year 1956, is a Mid Cap company with a market cap of Rs 17387.31 Crore, operating in Pharmaceuticals sector.
Sanofi India’s key Products/Revenue Segments include Pharmaceutical Products, Sale of services, Other Operating Revenue, Export Incentives and Scrap for the year ending 31-Dec-2020.
Investment Rationale
Centrum believes that, going forward export business would contribute closer to the 14-15 per cent of sales and domestic business would become ~85 per cent from earlier 70 per cent share. It believes that the benefits of lower promotional spends would continue to some extent even in CY21. This would be further benefited with better growth in the top-line and product mix along with better working capital management. Centrum maintains its buy rating with a multiple at 36x of CY22E and a target price of Rs10,230.
Financials
For the quarter ended 31-03-2021, the company has reported a Standalone Total Income of Rs 751.40 Crore, up 2.02 per cent from last quarter’s Total Income of Rs 736.50 Crore and down 7.69 per cent from last year same quarter’s Total Income of Rs 814.00 Crore. Company has reported a net profit after tax of Rs 145.90 Crore in latest quarter.
Promoter/FII Holdings
Promoters held 60.4 per cent stake in the company as of Dec 30, 2020, while FIIs held 11.5 per cent, DIIs 17.5 per cent and public and others 10.6 per cent.
