Dolat Capital's research report on Suven Life Science
The quarterly results were adversely affected by a lower commercial contribution (` 200mn in Q3 and ` 380mn in 9M). Both CRAMS and specialty chemicals declined 27% YoY each. The company, however, is confident of a better performance from Q4FY19 onwards. The management expects commercial revenue to be in the range of ` 1.2-1.5bn in FY20, including deferred income from the year.
Outlook
We rollover to the FY21E EPS of `13,leading to TP of `315(15x FY21E EPS and up front payments and NCE driven revenue).
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Read More First Published on Feb 8, 2019 03:28 pm
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