Nomura has maintained a neutral rating on Torrent Pharmaceuticals, with a target price of ₹3,580, suggesting a modest upside of nearly 11% from the current market price of ₹3,233.10. The brokerage flagged a weaker-than-expected Q4, impacted by a one-time litigation charge.
For Q4FY25, sales and EBITDA missed estimates by 1% and 2%, respectively. PAT came in 4% lower, dragged by litigation charges of ₹240 million. However, adjusted PAT was in line with expectations.
Geographically, revenue across all key markets except the US fell short of estimates, prompting a cautious outlook. Despite the minor shortfall, Nomura continues to see value in the stock but does not project substantial near-term re-rating.
Current market price (CMP): ₹3,233.10
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