Subdued Q3 performance leads to stock correction in Torrent Pharma

While analysts expect India growth to rebound, regulatory overhang may continue

After hitting its 52-week high, the Torrent Pharma stock fell more than 5 per cent on Tuesday, following a weak December quarter performance.

The Street was disappointed by its sales in the domestic market, which accounts for 44 per cent of its overall revenue. The India business grew at a soft pace of 5 per cent on a high base of last year.  

Adjusting for one-offs due to the integration of stockists at Torrent and Unichem (acquired entity), the India business growth is at 8.5 per cent year-on-year (YoY). The domestic business had exhibited 23 per cent annual growth, led