Buy Suven Pharmaceuticals, target price Rs 520: Nuvama Wealth brokerage

Nuvama Wealth brokerage has buy call on Suven Pharmaceuticals Ltd. with a target price of Rs 520. The current market price of Suven Pharmaceuticals is Rs 488.2. Nuvama Wealth brokerage recommended to keep stoploss at Rs 468.

Suven Pharmaceuticals, incorporated in the year 2018, is a Small Cap company (having a market cap of Rs 12415.13 Crore) operating in Pharmaceuticals sector.

Suven Pharmaceuticals key Products/Revenue Segments include Pharmaceuticals, Sale of services, Duty Drawback and Export Incentives 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 380.76 Crore, up 3.81 % from last quarter Total Income of Rs 366.78 Crore and up .01 % from last year same quarter Total Income of Rs 380.72 Crore. Company has reported net profit after tax of Rs 123.97 Crore in latest quarter.

The company’s top management includes Mr.Venkateswarlu Jasti, Ms.Deepanwita Chattopadhyay, Dr.Jerry Jeyasingh, Mr.J V Ramudu, Mr.D G Prasad, Dr.V Sambasiva Rao. Company has Karvy & Co. as its auditors. As on 31-03-2023, the company has a total of 25 Crore shares outstanding.

Investment Rationale
Broken 3-month consolidation range on the higher side affirming a strong base formation at 470 levels.

Promoter/FII Holdings
Promoters held 60.0 per cent stake in the company as of 31-Mar-2023, while FIIs owned 9.47 per cent, DIIs 11.43 per cent.