Nuvama initiates coverage on India's Orchid Pharma with 'buy'

Orchid Pharma

21/12/2023 05:42

** Nuvama Institutional Equities initiates coverage on
Orchid Pharma Ltd  ORCD.NS  with 'buy' rating, 12-month PT of
900 rupees
    ** Co shares hit a high of 7.4% to 734.50 rupees for the
day, last up 3.6%
    ** Says new promoters have deleveraged balanced sheet and
trebled EBITDA; co poised for growth on expanded capabilities,
timely execution of opportunities and production linked
incentives
    ** Adds management laserfocused on introducing products,
expanding customer base, ratcheting up expanded capacity
utilisation
    ** This should drive profit after tax compound annual growth
rate of 49% over FY23–26E - Nuvama


 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))