Emkay Global Financial Services has recommended 'Buy' on Aurobindo Pharma with target price of Rs 1,360 as against current market price (CMP) of Rs 1,129 in its report.

Commenting on the investment rationale, Emkay said, ''Aurobindo Pharma completed acquisition of Natrol Inc which provides a branded nutraceutical and dietary supplement platform. Natrol has USD 97 million (annualized) sales with USD 15.2 million EBITDA and a PAT of USD 6.4 million

Natrol currently has 7 brands with more than 500 SKUs. Aurobindo also gets access to Natrol's manufacturing base in Chatsworth California. Current sales is predominantly to US markets along with increasing sales from Europe and Asia. The company has sales through various channels including E-commerce

We believe Natrol fits well into Aurobindo's strategy of having a diversified presence in US along with a strong presence in Oral solids and injectables. It provides a ready platform to be a part of a growing Nutraceutical business in US.''

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.