India's Bajaj Healthcare hits over one-week high on upbeat FY23 forecast

Bajaj Healthcare

27/06/2022 07:47

** Shares of pharmaceuticals co  BAJH.NS  rise as much as
3.6% to 292 rupees - their highest since June 16 
    ** Co expects https://bit.ly/3njETK5 growth in FY23, driven
by the formulation business, addition of new capacities via
acquisitions     
    ** Co's domestic clients in formulation business include
Lupin  LUPN.NS , TTK Healthcare  TTKH.NS  and Intas
Pharmaceutical  INTA.NS  
    ** BAJH, which started operations in 1993, manufactures
active pharmaceutical ingredient (APIs), finished formulations
and nutraceuticals
    ** Thane, Maharashtra-based BAJH expects EBITDA margins to
grow to 18%-20% in FY23 from 17.43% in FY22 
    ** Says "management foresees an upside in the cash generated
from operations due to scaling up of production levels and
steady revenue streams generated from new segments"
    ** More than 51,000 shares traded by 0611 GMT, 1.4 times
their 30-day avg
    ** Up to last close, stock had fallen 31.9% this year vs a
14.4% decline in the Nifty Pharma index  .NIPHARM  

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))