Latest news with #BSR&Co
Time of India
14-05-2025
- Business
- Time of India
I-Sec maintains Sell on Biocon, revises target price to Rs 270
ICICI Securities has maintained Sell call on Biocon with a revised target price of Rs 270 (Rs 260 earlier). The current market price of Biocon is Rs 334.4. Biocon. incorporated in 1978, is a Large Cap company with a market cap of Rs 40112.05 crore, operating in Pharmaceuticals sector. Biocon's key products/revenue segments include Bio Pharmaceuticals, Other Operating Revenue, Waste and Sale of services for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 4453.90 crore, up 15.50% from last quarter Total Income of Rs 3856.20 crore and up 12.31% from last year same quarter Total Income of Rs 3965.70 crore. The company has reported net profit after tax of Rs 459.40 crore in the latest quarter. The company's top management includes Mazumdar Shaw, Robert Haggar, Mehrotra Menon, Lal Kidwai, Kanubhai Parikh, Damodaran, Vivek Mazumdar, Rasendra Mazumdar, Mittal, Dhawan. The company has B S R & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 120 crore shares outstanding. Investment Rationale ICICI Securities expects Biocon to witness an earnings CAGR of 91.6% over FY25-27E driven by a revenue CAGR of 16.9%. EBITDA margin is likely to remain between 21-23% in FY26-27E with curbs in biosimilars margin and India business divestment. The brokerage cut its EBITDA estimates by ~1% for FY27E due to concerns over margins. The stock currently trades at 16.3x FY26E and 12.1x FY27E EV/EBITDA. I-Sec retains SELL on Biocon with an SoTP-based revised taret price of Rs 270 (earlier Rs 260). Key upside risks are healthy launches in biosimilars and generics segments; and early recovery in biologics margin. Promoter/FII Holdings Promoters held 60.64 per cent stake in the company as of 31-Mar-2025, while FIIs owned 5.67 per cent, DIIs 15.72 per cent.
Time of India
07-05-2025
- Business
- Time of India
Add Marico, target price Rs 785: HDFC Securities
Marico's key products/revenue segments include Edible Oil, Others, Personal Care, Export Incentives, Scrap for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 2,777 crore, down -2.08% from last quarter Total Income of Rs 2,836 crore and up 21.11% from last year same quarter Total Income of Rs 2,293 crore. The company has reported net profit after tax of Rs 345 crore in the latest quarter. The company?s top management includes Mariwala, Bali, Purohit, Vasudeva, Barve, Sankaranarayanan, Mariwala, Mariwala, Khattau, Gupta, Bharti Mittal. Company has B S R & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 130 crore shares outstanding. Live Events Investment Rationale Marico's Q4FY25 results were ahead of HDFC Securities' estimates, with domestic volume growth of 7% vs. our expectations of 4-5%, higher owing to solid offtake in foods and digital first brands. However, profitability remained strained, given the inflation in key RM and high advertising costs. The brokerage maintains its Add rating on Marico with a target price of Rs 785/share (50x its FY27 consolidated EPS, 22% premium to its 5-yr average PE), with revenue/EBITDA/PAT CAGRs of 9/11/11% for FY25-FY28E. In our view, the growth will be driven by 1) strong performance of the domestic business led by Parachute (estimating MSD volume growth), Saffola edible oil (price hike led growth), VAHO (easing competitive intensity), and improving profitability of the foods and digital-first business and 2) sustained double-digit CCG momentum in the international business (reported numbers to improve as currency headwinds subside). Promoter/FII Holdings Promoters held 59.05 per cent stake in the company as of 31-Mar-2025, while FIIs owned 22.09 per cent, DIIs 13.98 per cent. (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel HDFC Securities has an Add call on Marico with a target price of Rs 785. The current market price of Marico is Rs 716.5. Marico, incorporated in 1988, is a Large Cap company with a market cap of Rs 92589.21 crore, operating in the FMCG key products/revenue segments include Edible Oil, Others, Personal Care, Export Incentives, Scrap for the year ending the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 2,777 crore, down -2.08% from last quarter Total Income of Rs 2,836 crore and up 21.11% from last year same quarter Total Income of Rs 2,293 crore. The company has reported net profit after tax of Rs 345 crore in the latest company?s top management includes Mariwala, Bali, Purohit, Vasudeva, Barve, Sankaranarayanan, Mariwala, Mariwala, Khattau, Gupta, Bharti Mittal. Company has B S R & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 130 crore shares Q4FY25 results were ahead of HDFC Securities' estimates, with domestic volume growth of 7% vs. our expectations of 4-5%, higher owing to solid offtake in foods and digital first brands. However, profitability remained strained, given the inflation in key RM and high advertising costs. The brokerage maintains its Add rating on Marico with a target price of Rs 785/share (50x its FY27 consolidated EPS, 22% premium to its 5-yr average PE), with revenue/EBITDA/PAT CAGRs of 9/11/11% for FY25-FY28E. In our view, the growth will be driven by 1) strong performance of the domestic business led by Parachute (estimating MSD volume growth), Saffola edible oil (price hike led growth), VAHO (easing competitive intensity), and improving profitability of the foods and digital-first business and 2) sustained double-digit CCG momentum in the international business (reported numbers to improve as currency headwinds subside).Promoters held 59.05 per cent stake in the company as of 31-Mar-2025, while FIIs owned 22.09 per cent, DIIs 13.98 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.
