Review

FDC 

Ticker : 531599
FV : Rs 1
52-Week H/L : Rs 270.20/152

We had recommended FDC Ltd in volume no. 36, issue no. 27 (dated April 27, 2020), when the scrip was trading at Rs 250.15. FDC Limited is a pharmaceutical company, engaged in the manufacturing of specialised formulations as well as oral rehydration salts (ORS). Its facilities are located at Roha, Waluj and Sinnar in Maharashtra, Verna in Goa and Baddi in Himachal Pradesh. On a consolidated quarterly front, the company reported net sales of Rs 321.22 crore in Q3FY20, up by 25.39 per cent from Rs 256.17 crore in Q3FY19. Operating profit saw an impressive growth of 64.39 per cent to Rs 115.85 crore in Q3FY20 from Rs 70.48 crore in the same period of the previous fiscal year. Similarly, net profit expanded by 61.13 per cent and was recorded at Rs 74.25 crore in Q3FY20 as compared to Rs 46.08 crore in Q3FY19. FDC has a diversified product portfolio. Supporting that, currently, the pharmaceutical sector is considered to be in a good space, which will aid towards FDC’s positive growth. Hence, HOLD.