Pfizer Q1 Review – Exceptional Performance: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Pfizer Ltd. reported strong performance beating our estimates across parameters during the quarter.

Revenue grew 45.5% YoY to Rs 7.5 billion (our estimate: Rs 7.2 billion) benefiting from strong growth in its top brands.

Ebitda margin improved 1,460 basis points QoQ (up 190 bps YoY) to 38.1% (our estimate: 27.0%) with sharp decline in selling, general and administrative costs (down 20.2% QoQ).

Adjusted profit after tax grew 60.6% YoY to Rs 2.0 billion (our estimate: Rs 1.8 billion).

While we remain positive on Pfizer’s growth visibility with exposure only in domestic formulations and strong balance sheet with deep cash reserves, current valuations capture the near term growth with potential correction in margins as costs normalise.

Click on the attachment to read the full report:

ICICI Securities Pfizer Q1FY22 Results Update.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Most Related Links :
reporterwings Governmental News Finance News

Source link

Back to top button