Aakhir wajah kya hai is cut ki?
Brokers ka kehna hai ki Dr. Reddy's ke liye g-Revlimid jaise generic products mein competition badh raha hai, jisse profit margins par pressure aa raha hai. Saath hi, semaglutide jaise kuch important products ke launch mein bhi delays ho rahe hain, jo ki Brazil aur Canada mein hone wale the. Generics mein pricing pressure bhi ek bada reason hai. In sab ki wajah se, Motilal Oswal ne future earnings ko kam kar diya hai.
Earnings Estimate mein badi giravat
Reports ke mutabik, FY25 aur FY26 mein earnings thodi slow rahne ki ummeed hai, aur FY27 mein toh aur bhi giravat aa sakti hai kyunki niche products ka rollout slow chal raha hai. Isi wajah se, Motilal Oswal ne FY27 ke liye earnings estimate ko 25% aur FY28 ke liye 8% tak kam kar diya hai.
Naya Target Price aur Valuation
In sab revised forecasts ko dekh kar, Motilal Oswal ne Dr. Reddy's ko 18 times 12-month forward earnings par value kiya hai. Jiske baad company ka naya target price ₹1,195 set kiya gaya hai.
Future Outlook aur Rating
Short term mein situation thodi challenging lag rahi hai, lekin agar b-abatacept jaise kuch niche products ko jaldi regulatory approval mil jata hai, toh FY28 mein earnings ko boost mil sakta hai. Fir bhi, Motilal Oswal ne stock par 'Neutral' rating hi maintain rakhi hai, jo current pressures ko reflect karta hai.
