Buy Ipca Laboratories, target price Rs 930: Edelweiss

Edelweiss has buy call on Ipca Laboratories with a target price of Rs 930. The current market price of Ipca Laboratories is Rs 873.85.

Ipca Laboratories Ltd., incorporated in the year 1949, is a Mid Cap company (having a market cap of Rs 22172.48 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 30-06-2022, the company reported a Consolidated Total Income of Rs 1607.85 Crore, up 23.34 % from last quarter Total Income of Rs 1303.64 Crore and up 1.33 % from last year same quarter Total Income of Rs 1586.81 Crore. Company reported net profit after tax of Rs 148.43 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 46.29 per cent stake in the company as of 30-Jun-2022, while FIIs owned 10.61 per cent, DIIs 33.5 per cent.