IDFC Securities maintains outperformer on Sanofi India, target price Rs 7,368

IDFC Securities has maintained outperformer rating on Sanofi India in the long term with a target price of Rs 7368. The stock ended down 0.1% at Rs 6599.95 on Wednesday while the BSE Sensex closed 229.02 points down at 40,116.06.

Company Financials

For the quarter ended 30-09-2019, the company has reported standalone sales of Rs 779.10 crore, up 4.17% from last quarter sales of Rs 747.90 crore and up 11.20% from last year same quarter sales of Rs 700.60 crore. The company has reported net profit after tax of Rs 126.60 crore in the latest quarter.


Investment Rationale

The brokerage has maintained rating on the stock given attractive valuations and steady improvement in operating performance. The stock trades at 20.7 times EV/ EBITDA and 31.2 times CY20 estimated price-to-earnings ratio, which are at discount to those of MNC peers like Glaxo, said IDFC Securities.