Divi’s Labs Posts Moderate Growth
Net Profit Falls On Gross Margin Contraction
A modest rise in Divi's Labs' custom synthesis business offset strong growth in nutraceuticals, while a gross margin contraction resulted in the firm's net profit falling.
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Divi’s Laboratories says it is investing Rs12.0 billion (US$163 million) in two of its sites in India “in order to cater to the increasing opportunities in generic and big pharmaceutical business”.
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A recent focus on high-margin generic formulations, strong contract manufacturing business, and expected cash inflow from stake sales in joint ventures could make Granules India an attractive buy for private equity funds.