IPCA Labs: Does return of pre-COVID expenses derail investment case?

IPCA Labs: Does return of pre-COVID expenses derail investment case?

Ipca lab's key challenge with respect to APIs is on the mend.











February 16, 2022 / 12:04 PM IST









PRO Only Highlights - 

Quarterly performance largely backed by improved realisations - 

Medium-term triggers China plus and protectionist measures for tyre industry - 

Valuations not inexpensive; but improved medium-term outlook





IPCA Labs (CMP: Rs 989; Market Cap: Rs 25,089 crore) has posted an uninspiring Q3FY22 result in aggregate, even though domestic formulations continue to shine. Input cost pressure remains a constant worry. In addition, operational expenses are climbing. Also, the stock is down 28 percent from the all-time high.

In this context, let’s have a closer look at the investment case drivers for Ipca Labs.

Q3 impacted by higher operational cost

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IPCA’s quarterly sales were flattish, and a strong beat in...

















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