Buy Abbott India; target of Rs 26,723 Sharekhan

About this update from Abbott India Limited

Sharekhan's research report on Abbott IndiaOperational profitability beat expectations; even as gross margin stayed flat y-o-y at 45.5%, EBITDA margin rose to a record high of ~25.5%, rising ~60 bps y-o-y. We believe Abbott’s strong market leadership in key therapies such as Women’s health, gastro and continuous double-digit product launches every year would continue to result in healthy operations. A 65% y-o-y rise in other income and 21% y-o-y fall in interest expenses led to ~18% y-o-y growth in PAT to Rs. 312.8 crore, 14% above our expectation of ~Rs. 274 crore.OutlookWe maintain Buy with an increased PT of Rs 26,723. Stock currently trades at36.6.x/31.3x its FY2025E/FY2026E EPS.For all recommendations report, click hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.Abbott India - 10 - 11 - 2023 - khan

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