Buy Torrent Pharmaceuticals., target price Rs 2010: ICICI Direct

ICICI Direct has buy call on Torrent Pharmaceuticals with a target price of Rs 2010. The current market price of Torrent Pharmaceuticals is Rs 1775.9. Time period given by analyst is a year when Torrent Pharmaceuticals price can reach defined target.
Torrent Pharmaceuticals., incorporated in the year 1972, is a Large Cap company (having a market cap of Rs 60244.98 Crore) operating in Pharmaceuticals sector.

Torrent Pharmaceuticals key Products/Revenue Segments include Pharmaceuticals, Other Operating Revenue and Export Incentives for the year ending 31-Mar-2022.

Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 2500.00 Crore, up .77 % from last quarter Total Income of Rs 2481.00 Crore and up 14.31 % from last year same quarter Total Income of Rs 2187.00 Crore. Company has reported net profit after tax of Rs 287.00 Crore in latest quarter.

The company’s top management includes Mr.Sudhir Mehta, Mr.Manish Mahendra Choksi, Mr.Jinesh Shah, Dr.Maurice Chagnaud, Ms.Nayantara Bali, Ms.Ameera Shah, Mr.Haigreve Khaitan, Mr.Shailesh Haribhakti, Mr.Samir Mehta, Mr.Aman Samir Mehta. Company has BSR & Co. LLP as its auditors. As on 31-03-2023, the company has a total of 34 Crore shares outstanding.

Investment Rationale
The brokerage upgrades from HOLD to BUY with strong traction expected from branded generics and further scope for margin expansion.

Promoter/FII Holdings
Promoters held 71.25 per cent stake in the company as of 31-Mar-2023, while FIIs owned 12.04 per cent, DIIs 8.89 per cent.