External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>As per IQVIA, IPM recorded strong growth for Dec-25 at 15% YoY (vs 8.6% in Nov-25), unit grew by 4.4% YoY (-2.8% in Nov-25)</li><li>Growth was led by CVS, anti-diabetes, CNS, and oncology segments, while growth in anti-infective, gastro, respiratory, and pain grew at par or marginal below compared to IPM growth</li><li>For Q3FY26, IPM grew 11.8% YoY and unit growth was at 1.6% YoY.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

As per IQVIA, IPM recorded strong growth for Dec-25 at 15% YoY (vs 8.6% in Nov-25), unit grew by 4.4% YoY (-2.8% in Nov-25)Growth was led by CVS, anti-diabetes, CNS, and oncology segments, while growth in anti-infective, gastro, respiratory, and pain grew at par or marginal below compared to IPM growthFor Q3FY26, IPM grew 11.8% YoY and unit growth was at 1.6% YoY.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pharmaceuticals: IPM: strong 15% growth in Dec-25

<ul><li>The India Pharma and Healthcare sector is expected to see moderate revenue growth as EBITDA margins remain flat</li><li>We project sales/EBITDA growth of 11%/10% YoY for our coverage universe</li><li>Our assumptions are: (1) Pharma coverage will see 10% YoY sales growth driven by 11% YoY increase in the India business</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The India Pharma and Healthcare sector is expected to see moderate revenue growth as EBITDA margins remain flatWe project sales/EBITDA growth of 11%/10% YoY for our coverage universeOur assumptions are: (1) Pharma coverage will see 10% YoY sales growth driven by 11% YoY increase in the India businessContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pharma and Healthcare (Q3FY26E Results Preview): Base business momentum to offset gRevlimid drag

<ul><li>Overall chronic growth accelerated for Oct-25 to ~16% YoY, and the acute segment saw 9% growth.</li><li>In chronic space, cardiac continues to drive IPM growth in Oct-25 at 17% YoY (+11% in Q2FY26), anti-diabetic at 15% (+9% in Q2FY26), led by continued traction from GLP-1 molecules (ex-Mounjaro growth was at 8% YoY), and CNS at +13% (+7% in Q2FY26). </li><li>In acute, anti-infectives saw 5% YoY growth (+4% in Q2FY26), gastro 9% YoY (+2% in Q2FY26), and VMN 11% YoY (+6% in Q2FY26).</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Overall chronic growth accelerated for Oct-25 to ~16% YoY, and the acute segment saw 9% growth.In chronic space, cardiac continues to drive IPM growth in Oct-25 at 17% YoY (+11% in Q2FY26), anti-diabetic at 15% (+9% in Q2FY26), led by continued traction from GLP-1 molecules (ex-Mounjaro growth was at 8% YoY), and CNS at +13% (+7% in Q2FY26). In acute, anti-infectives saw 5% YoY growth (+4% in Q2FY26), gastro 9% YoY (+2% in Q2FY26), and VMN 11% YoY (+6% in Q2FY26).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pharmaceuticals: IPM: growth recovers to 11.7% in Oct-25

<ul><li>As per IQVIA, IPM saw moderate growth for Sep’25 at 6.1% YoY (vs 8.1% in Aug’25), with 2.4% YoY decline in units</li><li>The strong growth in cardiac, respiratory, and oncology was offset by muted growth in anti-infective, gastro, VMN, and pain</li><li>For Q2FY26, IPM grew 7.2% YoY, with 1.7% decline in units.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

As per IQVIA, IPM saw moderate growth for Sep’25 at 6.1% YoY (vs 8.1% in Aug’25), with 2.4% YoY decline in unitsThe strong growth in cardiac, respiratory, and oncology was offset by muted growth in anti-infective, gastro, VMN, and painFor Q2FY26, IPM grew 7.2% YoY, with 1.7% decline in units.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pharmaceuticals: IPM: grows 6.1% in Sep’25 and 7.2% in Q2FY26

<ul><li>The India Pharma and Healthcare sector is expected to see steady revenue growth but EBITDA margins to remain flat</li><li>We project sales/EBITDA growth of 11%/12% YoY for our coverage universe</li><li>Our assumptions are: (1) pharma coverage will see 11% YoY sales growth, as moderate 10% YoY increase in the India business due to new GST related disruption in Sep-25 month</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The India Pharma and Healthcare sector is expected to see steady revenue growth but EBITDA margins to remain flatWe project sales/EBITDA growth of 11%/12% YoY for our coverage universeOur assumptions are: (1) pharma coverage will see 11% YoY sales growth, as moderate 10% YoY increase in the India business due to new GST related disruption in Sep-25 monthContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pharma and Healthcare (Q2FY26E Results Preview): Q2FY26: Steady sales growth, margin to remain flat

India

Alkem Laboratories Ltd. is an Indian multinational pharmaceutical company specializing in generics and specialty pharmaceuticals. It manufactures and markets pharmaceutical generics, formulations, and nutraceuticals across India and global markets. The company's product portfolio also includes active pharmaceutical ingredients, branded products, vitamins, minerals, and nutritional products. Alkem Laboratories is headquartered in Mumbai, India, and was founded in 1973.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Alkem Laboratories (ALKEM IN)

Pharmaceuticals: IPM: strong 15% growth in Dec-25

Growth was led by CVS, anti-diabetes, CNS, and oncology segments, while growth in anti-infective, gastro, respiratory, and pain grew at par or...

HDFC Securities

Pharma and Healthcare (Q3FY26E Results Preview): Base business momentum to offset gRevlimid drag

The India Pharma and Healthcare sector is expected to see moderate revenue growth as EBITDA margins remain flat. We project sales/EBITDA growth of...

HDFC Securities

Pharmaceuticals: IPM: growth recovers to 11.7% in Oct-25

In chronic space, cardiac continues to drive IPM growth in Oct-25 at 17% YoY (+11% in Q2FY26), anti-diabetic at 15% (+9% in Q2FY26), led by...

HDFC Securities

Pharmaceuticals: IPM: grows 6.1% in Sep’25 and 7.2% in Q2FY26

The strong growth in cardiac, respiratory, and oncology was offset by muted growth in anti-infective, gastro, VMN, and pain. For Q2FY26, IPM grew...

HDFC Securities

Pharma and Healthcare (Q2FY26E Results Preview): Q2FY26: Steady sales growth, margin to remain flat

The India Pharma and Healthcare sector is expected to see steady revenue growth but EBITDA margins to remain flatWe project sales/EBITDA growth of...

HDFC Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)