In the past five months, rupee has depreciated by 10-11%, benefitting exporting pharma companies in terms of better sales realisation and profitability. Hence, we have revised our INR assumptions to Rs. 69 vs. earlier Rs. 67 (for FY2020E and FY2021E), leading to upgrade of 2-3% each in our sales and earnings estimates (FY2020E and FY2021E) for Divis Laboratories
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