Pfizer

The MNC posted a good 53% (YoY) jump in net profit for Q2FY17 at Rs.126 crore was thanks only to the exceptional gain of Rs.103 crore. This was on account of completion of requisite formalities and receipt of necessary regulatory approvals has concluded the transfer of four brands.

But for this, it was a lackluster quarter with total income showing a mere 5% rise at Rs.558 crore. This quarter witnessed the full impact of the price reductions announced by the Government between March and June of this year. Revenue has been impacted by Rs. 22 crores due to these price reductions with the impact being felt most in mid-tier and tail brands. Excluding the impact of price reductions, revenue growth for the quarter would have been 9%.

Typical of all MNCs, it is debt free and promoter stake is at 63.92%. Equity is at Rs.45.75 crore and on a H1FY17 net profit of Rs.206 crore, annualized EPS for FY17 is at Rs.90 (FV of Rs.10).