Divis lab share

Divi’s is engaged in manufacturing generic APIs and intermediates, custom synthesis (CS) of active ingredients and advanced intermediates for pharma MNCs, other speciality chemicals like Carotenoids and complex compounds like peptides and Nucleotide revenues. • In CS, the company maintains strong relationship with global big pharma players while in generics it enjoys significant market share in products like Naproxen, Dextromethorphan and Gabapentin among others • Divi’s is fully backward integrated in products with high market share. The management intends to follow suit in other products

Shares of pharma major Divi's Laboratories jumped 9.4% to Rs 3,199 in Wednesday's trade on BSE amid the recovery in the company’s export sales in the month of March 2023. The company's exports rose to $92 million in March against an average of $55-60 million in the previous 11 months. The March export numbers are much ahead of what analysts were expecting, triggering a rally in At 1.34 pm, the scrip was trading 8.9% higher at Rs 3,188.6 over its previous day's closing price of Rs 2,927 apiece. However, the stock has plunged over 28% in the last one year, while it has fallen over 5% year-to-date. As per Trendlyne data, the average target price of the stock is Rs 2,963 per share, which shows a downside of 7% from the current market prices. In Q3 FY23, Divi's Laboratories reported a 65% drop in consolidated net profit at Rs 307 crore. It was Rs 902 crore in the same quarter of last year. Its revenue from operations fell 31% to Rs 1,707 crore for the December quarter under review as against Rs 2,493 crore a year ago. The company earned a consolidated total income of Rs 1,822 crore for the third quarter, down about 27% from Rs 2,510 crore in the corresponding quarter of last year. Other income during the quarter rose multiple times to Rs 114 crore from a meagre Rs 16 crore in last year's quarter. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) Don’t miss out on ET Prime stories...

Total income for the nine-month period came in at Rs 6,099 crore as against Rs 6,503 crore in the corresponding period of previous year. On a standalone basis, the company reported a profit after tax of Rs 311 crore, which is too down over 60%. According to Trendlyne data, Divi's Labs has an average target of Rs 3862 and the consensus estimate represents an upside of 30.57% from the current levels. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) Don’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp.

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This is a jump of around 50% compared to the previous 11-month average which stood at S55-50 million. However, a similar kind of trend was seen even in 2022. March 2022 export sales were around $81 million as against the previous 11-month average of $50 million. The numbers are ahead of what analysts had expected.