Emcure Pharma delivered a better-than-expected financial performance in 1QFY27, beating revenue by 6%, EBITDA by 7%, and PAT by 21%. The surprise came from higher revenue across its core segments and lower interest and tax costs.
The company’s European business continued to accelerate, powered by robust base operations and an increased off-take of new launches. A favorable currency tailwind also added to year‑on‑year growth in that region.
Analysts have raised their earnings estimates by 7% for FY27 and 2% for FY28. The revisions reflect a robust ARV order book in rest‑of‑world markets, steady scale‑up in the EU segment, and enhanced growth in the DF segment.
Using a valuation of 28 times the 12‑month forward earnings, the target price for Emcure shares is set at INR2,300. The outlook remains positive as the company continues to strengthen its market presence and operational efficiency.