Choice Institutional Equities Recommends 'BUY' on Senores Pharma; Target Rs 1045

• Choice Institutional Equities maintains a 'BUY' rating for Senores Pharma, revising its target price to INR 1,045.
• Senores Pharma is in a high-growth phase, backed by a strong launch pipeline of 28 ANDAs in regulated markets and 450 products in emerging markets.
• The company's own products and backward integration efforts have led to faster-than-expected EBITDA margin expansion.
• EBITDA margin is now expected at 29.0% for FY26E, aligning with management's updated guidance, up from 24–26%.
• Revenue guidance remains at 50%+ and PAT at 100% growth for FY26E, leading to upward revision of estimates for FY26E/FY27E.

Why It Matters: Choice Institutional Equities recommends buying Senores Pharma with a revised target of Rs 1,045 due to strong growth.