Earnings Report /

Square Pharmaceuticals: Q1 FY22: 27% EPS growth driven by 18% sales growth, higher profit from associate

  • EPS growth was driven by c18% yoy sales growth, c107% yoy higher profit from associates and 274bps yoy lower tax rate

  • Sales grew due to industry trends – as patient flow increased YoY. Higher COVID infection in Q1 FY22 also aided growth

  • We updated our TP at BDT 280 (+2% upward, ETR 25%) as we revised up 2022f EPS by c7% to BDT 20.4

Shopnil Paul
Shopnil Paul

Research Associate

Tanay Kumar Roy
Tanay Kumar Roy

Research Analyst

IDLC Securities
16 November 2021
Published by