India's Aurobindo Pharma falls after Q4 results; Ambit flags project delays, weak free cash flow

Aurobindo Pharma

22/05/2026 05:40

** Aurobindo Pharma ARBN.NS shares fall 3.8% to 1,488.3 rupees

** Co's Q4 revenue from operations up 5.6% and net profit up 2%, while EBITDA slips 0.5% and EBITDA margin falls by 104 basis points

** The co's accounting quality is improving, but concerns remain due to project delays, weak free cash flow, and high expenses that are not clearly classified, Ambit Capital said ahead of results

** Stock may remain discounted as promoter pledges rise and shareholder payouts increase alongside growing capital and debt in group private infra, real estate ventures, brokerage says

** ARBN trades at forward 12-months PE of 20.08 vs industry median of 26.51

** Twenty-one of 26 brokerages rate the stock "buy" or higher; median PT is 1,425 rupees

** YTD, ARBN up 25.4% vs 9.1% rise in Nifty Pharma Index .NIPHARM

 (Reporting by Abhinav Parmar in Bengaluru)

 ((Abhinav.Parmar@thomsonreuters.com;))