Goldman Sachs has maintained a neutral rating on Divi’s Laboratories with a target price of Rs 5,800, implying a downside of around 7% from the current market price of Rs 6,268.00.
The brokerage stated that revenue and EBITDA grew 12% and 21% year-on-year, respectively, with the beat largely driven by the generics segment. Divi’s continues to maintain a cautious stance on pricing in this segment.
Custom synthesis business posted 12% growth, in line with Goldman’s expectations. EBITDA margin for the quarter came in at 34%, 257 basis points ahead of the brokerage’s estimates.
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