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#Bittorrent stock price torrent
Torrent Pharma is an Indian multinational pharmaceutical company, owned by Torrent Group and headquartered in Ahmedabad.
The stock at around 9:50 was trading 3.5 per cent lower to Rs 1480 per share on the BSE against a 0.5 per cent fall in the S&P BSE Sensex. The global brokerage gives an Outperform rating with a target price of Rs 1,750 per share. Similarly, Credit Suisse pointed out that the cost of Curatio’s acquisition is high at 23x FY23e EV/EBITDA and further said that Curatio acquisition provides scale in the fast-growing dermatology segment. While Curatio’s EBITDA margin in FY22 stood at 26.8%, Torrent Pharma is guiding for ~29% EBITDA margin for Curatio in FY23 with a further uptick over the medium term, it said, and build in 20% sales CAGR over FY2023-25E for Curatio, with 31 and 33% EBITDA margins in FY24 and FY25, respectively. Torrent Pharma is trading at an elevated valuation of ~30X FY2024E EPS, and the brokerage awaits a better entry point, downgrading the stock to REDUCE from ADD.
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