Add Sanofi India, target price Rs 8107: ICICI Securities

ICICI Securities has add call on Sanofi India with a target price of Rs 8107. The current market price of Sanofi India Ltd. is Rs 7276.8. Time period given by analyst is one year when Sanofi India Ltd. price can reach defined target.

Sanofi India Ltd., incorporated in the year 1956, is a Mid Cap company (having a market cap of Rs 16790.24 Crore) operating in Pharmaceuticals sector.

Sanofi India Ltd. key Products/Revenue Segments include Pharmaceutical Products, Sale of services, Other Operating Revenue, Export Incentives and Scrap for the year ending 31-Dec-2020.



Financials
For the quarter ended 31-12-2021, the company reported a Standalone Total Income of Rs 704.20 Crore, down -8.45 % from last quarter Total Income of Rs 769.20 Crore and down -4.39 % from last year same quarter Total Income of Rs 736.50 Crore. Company reported net profit after tax of Rs 90.40 Crore in latest quarter.

Investment Rationale
The brokerage maintains ADD rating with a target price of Rs8,107/share based on 30x Jun’23E EPS. Key downside risks: Addition of key drugs in NLEM, product concentration, government intervention and presence of unlisted promoter company.

Promoter/FII Holdings
Promoters held 60.4 per cent stake in the company as of 31-Dec-2021, while FIIs owned 9.22 per cent, DIIs 19.05 per cent.