Nuvama has maintained its buy rating on Divi’s Laboratories with a target price of Rs 7,225, indicating a potential upside of nearly 15% from the current market price of Rs 6,268.00.
The brokerage highlighted that Q4 delivered the best gross and EBITDA margins since Q2FY23 and Q1FY23, respectively. Growth momentum was visible in both the API and nutraceuticals businesses.
Operations have also commenced at Unit-III, which involved a capex of Rs 1,500 crore. Nuvama further noted that the oral GLP-1 intermediate opportunity, upon commercialisation, could generate $100–175 million annually.
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