Biocon Ltd., incorporated in the year 1978, is a Large Cap company (having a market cap of Rs 38875.43 Crore) operating in Pharmaceuticals sector.
Biocon Ltd. key Products/Revenue Segments include Bio Pharmaceuticals, Other Operating Revenue, Waste and Sale of services for the year ending 31-Mar-2021.
Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 1945.30 Crore, up 7.61 % from last quarter Total Income of Rs 1807.80 Crore and up 10.51 % from last year same quarter Total Income of Rs 1760.30 Crore. Company reported net profit after tax of Rs 210.30 Crore in latest quarter.
Investment Rationale
The brokerage cuts revenue and EBITDA estimates by 4-5% and 5-6% respectively over FY22E-FY23E and assign Rs30/ per share NPV for vaccines. It maintains ADD with a revised SoTP-based target price of Rs371/share (earlier: Rs432/share) Key downside risks: Adverse regulations, delay in product launches and higher competition in products.
Promoter/FII Holdings
Promoters held 60.64 per cent stake in the company as of 30-Sep-2021, while FIIs owned 16.3 per cent, DIIs 6.88 per cent.
(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
