InvestorQ : How do you see the latest results of Wockhardt and do you think the stock is worth a buy at these prices?
Arya Nanda made post

How do you see the latest results of Wockhardt and do you think the stock is worth a buy at these prices?

Answer
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Deepa Salunkhe answered.
5 months ago


Wockhardt reported net profits of Rs.68.51 crore for the Mar-20 quarter as compared to a net loss of Rs.13.90 crore in the corresponding quarter last year. However, total income at Rs.701 crore was sharply lower by nearly 20% on a YOY basis. For the full fiscal year 2019-20, the net loss was much lower at Rs.43.39 crore compared to Rs.217 crore in 2018-19. Wockhardt board has approved raising of Rs.1500 crore by way of equity shares, equity-linked securities and other eligible securities during the current year. During the March quarter, Wockhardt also approved the sale of part of the domestic branded business comprising 62 products and related business, assets and liabilities including manufacturing facility at Baddi, for a consideration of Rs 1,850 crore to Dr Reddy's Laboratories. While the stock has rallied, it still offers a good bet at current prices considering the outlook for pharma.