Buy Divi's Laboratories, target price Rs 4130: Religare Broking

Religare Broking has buy call on Divi's Laboratories with a target price of Rs 4130. The current market price of Divi's Laboratories is Rs 3890.1. Religare Broking recommended to keep stoploss at Rs 3780.

Divi's Laboratories, incorporated in the year 1990, is a Large Cap company (having a market cap of Rs 103665.48 Crore) operating in Pharmaceuticals sector.

Divi's Laboratories key Products/Revenue Segments include Pharmaceuticals, Scrap, Export Incentives and Contract Fees for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 2016.92 Crore, up 10.70 % from last quarter Total Income of Rs 1821.93 Crore and down -21.55 % from last year same quarter Total Income of Rs 2570.83 Crore. Company has reported net profit after tax of Rs 320.97 Crore in latest quarter.

Investment Rationale
Witnessed a breakout from a consolidation range. Positivity in pharma pack adding to buoyancy.

Promoter/FII Holdings
Promoters held 51.93 per cent stake in the company as of 30-Jun-2023, while FIIs owned 14.69 per cent, DIIs 21.03 per cent.