Archive · 21 Jul 2026
Motilal Oswal Initiates Coverage on Emcure Pharma
Motilal Oswal Financial Services has started covering Emcure Pharmaceuticals with a 'Buy' rating and a target price of Rs 2,260, which is more than 27% higher than the current market price.
The company is seen as a multi-engine growth story with strong revenue and profit growth projections.
Emcure Pharma has a diversified domestic franchise focused on women's health and is expanding into other chronic areas.
It also has a significant global presence, particularly in Canada and Europe.
The company has strategic partnerships with global innovators like Sanofi, Novo Nordisk, and Roche.
Emcure Pharma's share price has risen 35.5% over the past 12 months, and its net profit for Q4FY26 was Rs 243 crore, up 29% year-on-year.
Motilal Oswal Financial Services initiates coverage on Emcure Pharmaceuticals with a 'Buy' rating and a target price of Rs 2,260.
Emcure Pharma is seen as a multi-engine growth story with robust revenue and profit growth projections.
The company has a diversified domestic franchise focused on women's health and is expanding into other chronic areas.
Emcure Pharma has a significant global presence, particularly in Canada and Europe, contributing 56% of FY26 revenue.
The company has strategic partnerships with global innovators like Sanofi, Novo Nordisk, and Roche.
- Who
- Motilal Oswal Financial Services
- What
- Initiated coverage on Emcure Pharmaceuticals with a 'Buy' rating and a target price of Rs 2,260
- When
- Recent
- Where
- India
- Why
- Due to Emcure Pharma's diversified, chronic-focused domestic franchise and significant global presence
Investor Optimism
Market Risks
Growth Potential
Investor Optimism
Emcure Pharma is seen as a multi-engine growth story with robust revenue and profit growth projections.
Market Risks
Market risks and competition could impact the company's growth trajectory.
- Brokerage Firm
- Motilal Oswal Financial Services
- Target Price
- Rs 2,260
- Current Market Price
- Rs 1,778
- Projected Revenue Growth
- 14% annually over FY26-28
- Projected EBITDA Growth
- 20% annually over FY26-28
- Projected PAT Growth
- 28% annually over FY26-28
- International Revenue Contribution
- 56% of FY26 revenue
- Domestic Leadership
- 2nd in gynaecology
- Key Collaborations
- Sanofi, Novo Nordisk, Roche
- Return on Equity
- 20% average over FY26-28
- Share Price Performance (12 months)
- 35.5% increase
- Q4FY26 Net Profit
- Rs 243 crore
- Q4FY26 Revenue
- Rs 2,469.7 crore
- Q4FY26 EBITDA
- Rs 479.5 crore
- Q4FY26 EBITDA Margin
- 19.4%