Piramal Pharma reported a net profit increase of 51.6% to Rs 153 crore in the Q4, compared to Rs 101 crore in the same quarter last year.
Goldman Sachs expressed confidence in Piramal Pharma's potential for top-quartile profit growth, driven by high operating and financial leverage.
Despite revenue and Ebitda growth below Goldman Sachs' estimates, profit before tax for Piramal Pharma was largely in line.
The brokerage firm has initiated coverage on Piramal with a buy rating, expecting significant profit growth and setting a target price of Rs 265 per share with a 21% upside potential.