Aurobindo Pharma likely to be the apple of investors' eyes on Aug 24

It looks like the clouds prevailing over the Pharma sector are getting cleared off. On Aug 23, Aurobindo Pharma post market hours has declared its Q1FY17 results and has impressed as far as numbers are concerned. In Q1, net income from operations stand at Rs 3725.9 crores, which has increased by 12.9 per cent as compared to Q1FY16. EBITDA before forex stands at Rs 889 crores, up by 22.6 per cent as compared to Q1FY16. Net profit of the company has increased by 24 per cent and stands at 584.6 crores. In Q1FY17, formulations business has registered a growth of 15.9 per cent and stands at Rs 3,032 crores.On the other hand, API's (Active Pharmaceutical Ingredient's) business registered 1.6 per cent growth and stands at Rs 734.5 crores. In Q1, company received 13 final approvals and 7 tentative approvals for the ANDAs (Abbreviated New Drug Applications) from USFDA (United States Food and Drug Administration).

On the other hand, the shares of the company on Aug 24, opened at Rs 765, up by 3.23 per cent. In the last 6 months, scrip has given a return of 24 per cent. 52-week High/Low of the company stands at Rs 891.5/582.Aurobindo Pharma became a public company in 1992 and listed its shares in the Indian stock exchanges in 1995. In addition to being the market leader in Semi-Synthetic Penicillins, it has a presence in key therapeutic segments such as neurosciences, cardiovascular, anti-retrovirals, anti-diabetics, gastroenterology and cephalosporins, among others.