Buy Ipca Laboratories, target price Rs 1105: JM Financial

JM Financial has buy call on Ipca Laboratories with a target price of Rs 1105. The current market price of Ipca Laboratories Ltd. is Rs 866.

Ipca Laboratories Ltd., incorporated in the year 1949, is a Mid Cap company (having a market cap of Rs 21837.59 Crore) operating in Pharmaceuticals sector.

Ipca Laboratories Ltd. key Products/Revenue Segments include Pharmaceuticals, Other Operating Revenue, Export Incentives, Sale of services for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 1637.18 Crore, up 1.82 % from last quarter Total Income of Rs 1607.85 Crore and up 4.78 % from last year same quarter Total Income of Rs 1562.51 Crore. Company reported net profit after tax of Rs 146.82 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 46.29 per cent stake in the company as of 30-Sep-2022, while FIIs owned 10.61 per cent, DIIs 33.46 per cent.