HDFC Securities expects strong performances from Lupin, Ipca, and Torrent in the pharma and healthcare sector, while Aurobindo, Zydus, and Max Healthcare may post muted results.
IPM has seen steady growth at 7.2% in Apr/May’25, with a 10% growth in the chronic segment offset by a 6% growth in the acute segment.
Pharma coverage is projected to see an 11% YoY sales growth, driven by a rise in India business by 11% YoY and a 2% QoQ growth in US sales.
The hospital business is expected to grow by 15% YoY, supported by steady average revenue per occupied beds and M&As such as Max Healthcare.