Pharmaceuticals
Pharma - Formulators
from 1,425 today
Eris Lifesciences delivered slightly better-than-expected revenue for the quarter, though EBITDA and PAT were marginally below estimates. The domestic branded formulation segment saw improving YoY growth, while the international business was impacted by remediation measures. We reiterate our Neutral rating as current valuations adequately factor in the earnings upside.
Eris Lifesciences reported Q1FY27 EBITDA growth of 7% YoY, while margins remained under pressure due to Swiss Parenterals remediation and weak gross margins. We expect an improvement from H2FY27E supported by the ramp-up of Semaglutide, Bhopal commercialization, and insulin franchise growth, maintaining our BUY rating with a revised target price of INR 1,700.
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