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Microsec Capital
Ipca Lab (Buy)
CMP: ₹812.70
Target: ₹954
Ipca lab is India’s market leader in anti-malarial drug across all dosage forms. Almost 18 per cent of current turnover comes from anti-malarial i.e. $60 million. Also, it has a dedicated anti-Malarial marketing division in India with a special task force of 500 people.
Ipca Lab, which comes among the top 10 pharmaceutical companies in India has ample opportunity to grow its export business which has been already growing by a CAGR of 20 per cent in the last 5 years. Our rating underpins the company’s strong management, its strategy of focusing on global generic and active pharmaceutical ingredient business and R&D activities. Company is also focusing on formulation business and therapeutic coverage especially in the fast-growing lifestyle-related segment.
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