External broker reports(aggregated public sources), HDFC Securities

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External broker reports(aggregated public sources)

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Thematic (Sector/Industry)

<ul><li>The India Pharma &amp; Healthcare sector is expected to see steady growth in Q3FY25E</li><li>We project sales/EBITDA growth of 11%/13% YoY for our coverage universe</li><li>Our assumptions are: (1) pharma coverage will see 10% YoY sales growth, driven by a 13% YoY increase in the India business, offset by flattish (QoQ) US sales (+5% 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.

The India Pharma &amp; Healthcare sector is expected to see steady growth in Q3FY25EWe project sales/EBITDA growth of 11%/13% YoY for our coverage universeOur assumptions are: (1) pharma coverage will see 10% YoY sales growth, driven by a 13% YoY increase in the India business, offset by flattish (QoQ) US sales (+5% 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.

Pharma and Healthcare (Q3FY25E): Growth Momentum, Margin Visibility Stay Intact

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

<ul>
<li>India Inc. leaders have been outperformers as compared to global peers on the back of strong ROE and EPS growth over the years.</li>
<li>India Inc has a higher % of companies with better RoE than the rest of the world.</li>
<li>Key takeaways for investors: Avoid macro noise, focus on fundamentals with peer comparison</li>
</ul>


India Inc. leaders have been outperformers as compared to global peers on the back of strong ROE and EPS growth over the years.
India Inc has a higher % of companies with better RoE than the rest of the world.
Key takeaways for investors: Avoid macro noise, focus on fundamentals with peer comparison


Chartered Insights: Why Indian Businesses Outperform: A Data-Driven Perspective

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>Eisai Announced that global revenue of Leqembi in Q2FY25 was ¥10B, up 1.6x than Q1FY25. Takeda Pharma announced positive interim results from a Phase 3 study.</li>
<li>Shionogi’s COVID-19 drug was effective in reducing transmission of the disease. JCR Pharmaceuticals initiated first patient dosing in Japan in the Phase I clinical trial of JR-441.</li>
<li>Celltrion signed a contract with a U.S. GPO to list Zymfentra on private insurance formularies, which will expand the drug's coverage to 90%+ of the U.S. health insurance market.</li>
</ul>


Eisai Announced that global revenue of Leqembi in Q2FY25 was ¥10B, up 1.6x than Q1FY25. Takeda Pharma announced positive interim results from a Phase 3 study.
Shionogi’s COVID-19 drug was effective in reducing transmission of the disease. JCR Pharmaceuticals initiated first patient dosing in Japan in the Phase I clinical trial of JR-441.
Celltrion signed a contract with a U.S. GPO to list Zymfentra on private insurance formularies, which will expand the drug's coverage to 90%+ of the U.S. health insurance market.


APAC Healthcare Weekly (Nov 3)- Eisai, Takeda, Shionogi, Astellas Pharma, Celltrion, Wuxi AppTec

<ul><li>The India Pharma &amp; Healthcare sector is expected to maintain its growth momentum in Q2FY25E</li><li>We project sales/EBITDA growth of 11%/15% YoY for our coverage universe</li><li>Our assumptions are: (1) Pharma coverage is expected to see 11% YoY sales growth, driven by a 12% YoY increase in the India business, offset by a ~5% QoQ decline in the US</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 &amp; Healthcare sector is expected to maintain its growth momentum in Q2FY25EWe project sales/EBITDA growth of 11%/15% YoY for our coverage universeOur assumptions are: (1) Pharma coverage is expected to see 11% YoY sales growth, driven by a 12% YoY increase in the India business, offset by a ~5% QoQ decline in the USContent 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 (Q2FY25E Results Preview): Steady Q2, Revlimid to Normalise

<ul><li>Hero Motocorp: Hero MotoCorp Q1 PAT at INR 11.2bn (+20% YoY) exceeded our estimate of INR 10.6bn, driven by a better product mix and cost control initiatives</li><li>It continues to focus on the 125cc segment, with capacity increased from 25k units per month to 40k per month to cater to the demand for Xtreme 125R</li><li>With better consumer sentiment aided by marriage dates and the onset of the festive season, a significant recovery is expected in the rural segment</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.

Hero Motocorp: Hero MotoCorp Q1 PAT at INR 11.2bn (+20% YoY) exceeded our estimate of INR 10.6bn, driven by a better product mix and cost control initiativesIt continues to focus on the 125cc segment, with capacity increased from 25k units per month to 40k per month to cater to the demand for Xtreme 125RWith better consumer sentiment aided by marriage dates and the onset of the festive season, a significant recovery is expected in the rural segmentContent 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.

HSIE Results Daily: Hero Motocorp, Apollo Hospitals Enterprise, FSN E-Commerce Ventures (Nykaa)

India

Apollo Hospitals Enterprise Limited owns and operates hospitals in India.  The Company also runs a 24-hour pharmacy network via over 120 outlets across India. Apollo Hospitals also runs clinics and offer managed care and family health plans. The Company has a variety of locations in Chennai, Hyderabad, Delhi, Dubai, Vizag, Bilaspur and Chengannur.

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Apollo Hospitals Enterprise (APHS IN)

Pharma and Healthcare (Q3FY25E): Growth Momentum, Margin Visibility Stay Intact

The India Pharma & Healthcare sector is expected to see steady growth in Q3FY25E. We project sales/EBITDA growth of 11%/13% YoY for our coverage...

HDFC Securities

Chartered Insights: Why Indian Businesses Outperform: A Data-Driven Perspective

Indian companies have outperformed global peers with strong ROE and EPS growth, emphasizing the importance of focusing on fundamentals and peer...

Nimish Maheshwari

APAC Healthcare Weekly (Nov 3)- Eisai, Takeda, Shionogi, Astellas Pharma, Celltrion, Wuxi AppTec

Large APAC healthcare companies are reporting mixed earnings. Demography will play a key role in ensuring how the overall domestic demand scenario...

Tina Banerjee

Pharma and Healthcare (Q2FY25E Results Preview): Steady Q2, Revlimid to Normalise

The India Pharma & Healthcare sector is expected to maintain its growth momentum in Q2FY25E. We project sales/EBITDA growth of 11%/15% YoY for our...

HDFC Securities

HSIE Results Daily: Hero Motocorp, Apollo Hospitals Enterprise, FSN E-Commerce Ventures (Nykaa)

Hero Motocorp: Hero MotoCorp Q1 PAT at INR 11.2bn (+20% YoY) exceeded our estimate of INR 10.6bn, driven by a better product mix and cost control...

HDFC Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Pharma and Healthcare (Q3FY25E): Growth Momentum, Margin Visibility Stay Intact

The India Pharma & Healthcare sector is expected to see steady growth in Q3FY25E. We project sales/EBITDA growth of 11%/13% YoY for our coverage...

HDFC Securities

Chartered Insights: Why Indian Businesses Outperform: A Data-Driven Perspective

​Indian companies have outperformed global peers with strong ROE and EPS growth, emphasizing the importance of focusing on fundamentals and peer...

Nimish Maheshwari

APAC Healthcare Weekly (Nov 3)- Eisai, Takeda, Shionogi, Astellas Pharma, Celltrion, Wuxi AppTec

Large APAC healthcare companies are reporting mixed earnings. Demography will play a key role in ensuring how the overall domestic demand scenario...

Tina Banerjee

Pharma and Healthcare (Q2FY25E Results Preview): Steady Q2, Revlimid to Normalise

The India Pharma & Healthcare sector is expected to maintain its growth momentum in Q2FY25E. We project sales/EBITDA growth of 11%/15% YoY for our...

HDFC Securities

HSIE Results Daily: Hero Motocorp, Apollo Hospitals Enterprise, FSN E-Commerce Ventures (Nykaa)

Hero Motocorp: Hero MotoCorp Q1 PAT at INR 11.2bn (+20% YoY) exceeded our estimate of INR 10.6bn, driven by a better product mix and cost control...

HDFC Securities

Indian companies have outperformed global peers with strong ROE and EPS growth, emphasizing the importance of focusing on fundamentals and peer...