External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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Thematic (Sector/Industry)

<ul><li>Pharmaceuticals: We expect pharmaceutical companies under our coverage to deliver a subdued yet positive performance in Q2FY27, with aggregate revenue rising 7.0% YoY and 3.6% QoQ to Rs 40,903 Cr.</li><li>However, EBITDA is estimated to decline 10% YoY but rise 6.3% QoQ to Rs 8,308 Cr, while adjusted PAT is likely to decline 19.6% YoY but moderately rise by 4.2% sequentially to Rs 4,331 Cr.</li><li>According to IQVIA data, chronic care segments such as cardiovascular and antidiabetic treatments are sustaining their outperformance against the broader Indian Pharmaceutical Market. </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.

Pharmaceuticals: We expect pharmaceutical companies under our coverage to deliver a subdued yet positive performance in Q2FY27, with aggregate revenue rising 7.0% YoY and 3.6% QoQ to Rs 40,903 Cr.However, EBITDA is estimated to decline 10% YoY but rise 6.3% QoQ to Rs 8,308 Cr, while adjusted PAT is likely to decline 19.6% YoY but moderately rise by 4.2% sequentially to Rs 4,331 Cr.According to IQVIA data, chronic care segments such as cardiovascular and antidiabetic treatments are sustaining their outperformance against the broader Indian Pharmaceutical Market. 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 - Q2FY27E: Result Preview

Equity Bottom-Up

<ul><li>Cipla US Sales Dip as gRevlimid Fades: The company’s US revenue for Q2FY26 stood at $233 Mn, reflecting a 1.7% YoY decline impacted by gRevlimid but offset by Albutero and Lanreotide as their market shares have now risen to 22% and Cipla's first biosimilar Filgrastim entry into the US market.</li><li>It expects virtually no contribution from gRevlimid in Q3FY26.</li><li>Strong Chronic, Trade Generics Boost One India 6.7% YoY: One India’s segment grew 6.7% YoY, largely driven by the robust performance of chronic products and strong double-digit growth in the Trade Generics 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.

Cipla US Sales Dip as gRevlimid Fades: The company’s US revenue for Q2FY26 stood at $233 Mn, reflecting a 1.7% YoY decline impacted by gRevlimid but offset by Albutero and Lanreotide as their market shares have now risen to 22% and Cipla's first biosimilar Filgrastim entry into the US market.It expects virtually no contribution from gRevlimid in Q3FY26.Strong Chronic, Trade Generics Boost One India 6.7% YoY: One India’s segment grew 6.7% YoY, largely driven by the robust performance of chronic products and strong double-digit growth in the Trade Generics business.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.

Cipla Ltd - Next-Gen Growth with GLP-1 & Respiratory Pipeline; Maintain BUY

<ul><li>We anticipate that pharmaceutical companies within our coverage will collectively demonstrate revenue growth of 9.9% YoY and 0.8% QoQ, along with EBITDA growth of 11.3% YoY and 3.6% QoQ.</li><li>Moreover, adjusted PAT is expected to grow by 13.3% YoY and decrease by 3.5% QoQ. Domestic formulations and niche launches in the US market will likely drive this growth.</li><li>Within the US generics, growth is particularly driven by products such as gRevlimid, gMirabegron, gSpiriva, gAlbuterol, gPrezista, gLenalidomide, gProlensa, gRivaroxaban, gtolvapatan and various biosimilars.</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.

We anticipate that pharmaceutical companies within our coverage will collectively demonstrate revenue growth of 9.9% YoY and 0.8% QoQ, along with EBITDA growth of 11.3% YoY and 3.6% QoQ.Moreover, adjusted PAT is expected to grow by 13.3% YoY and decrease by 3.5% QoQ. Domestic formulations and niche launches in the US market will likely drive this growth.Within the US generics, growth is particularly driven by products such as gRevlimid, gMirabegron, gSpiriva, gAlbuterol, gPrezista, gLenalidomide, gProlensa, gRivaroxaban, gtolvapatan and various biosimilars.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.

Q1FY26 Earnings Preview - Pharma and Healthcare

<ul><li>We anticipate that the pharmaceutical companies within our coverage will collectively demonstrate revenue growth of 8.1% YoY and 0.9% QoQ, along with EBITDA growth of 9.2% YoY and 2.4% QoQ.</li><li>Moreover, adjusted PAT is expected to grow by 10.7% YoY and 2.5% QoQ.</li><li>This growth will likely be driven by domestic formulations and niche launches in the US market.</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.

We anticipate that the pharmaceutical companies within our coverage will collectively demonstrate revenue growth of 8.1% YoY and 0.9% QoQ, along with EBITDA growth of 9.2% YoY and 2.4% QoQ.Moreover, adjusted PAT is expected to grow by 10.7% YoY and 2.5% QoQ.This growth will likely be driven by domestic formulations and niche launches in the US market.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.

Q3FY25 Earnings Preview - PHARMA & HEALTHCARE

<ul><li>As we turn the final page of 2024, we extend our warmest wishes for a 'Happy New Year' to all our valued readers.</li><li>With great excitement, we welcome 2025, looking forward to a year filled with prosperity, peace, and happiness for you and your family.</li><li>At this juncture, we are delighted to unveil our New Year Picks for this year, curated to support and strengthen your investment journey in the year ahead.</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 we turn the final page of 2024, we extend our warmest wishes for a 'Happy New Year' to all our valued readers.With great excitement, we welcome 2025, looking forward to a year filled with prosperity, peace, and happiness for you and your family.At this juncture, we are delighted to unveil our New Year Picks for this year, curated to support and strengthen your investment journey in the year ahead.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.

India

Cipla Limited manufactures and sells pharmaceutical and personal care products. The Company offers active pharmaceutical ingredients, and formulations in therapeutic areas, such as allergy, analgesic, anti malarial, anti-infectives, cardiology, dermatology and cosmeceuticals, diabetology, gastroenterology, steroids, iron chelators, nutritional products.

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Cipla Ltd (CIPLA IN)

Pharma and Healthcare - Q2FY27E: Result Preview

We expect pharmaceutical companies under our coverage to deliver a subdued yet positive performance in Q2FY27, with aggregate revenue rising 7.0%...

Axis Direct

Cipla Ltd - Next-Gen Growth with GLP-1 & Respiratory Pipeline; Maintain BUY

The company’s US revenue for Q2FY26 stood at $233 Mn, reflecting a 1.7% YoY decline impacted by gRevlimid but offset by Albutero and Lanreotide...

Axis Direct

Q1FY26 Earnings Preview - Pharma and Healthcare

We anticipate that pharmaceutical companies within our coverage will collectively demonstrate revenue growth of 9.9% YoY and 0.8% QoQ, along with...

Axis Direct

Q3FY25 Earnings Preview - PHARMA & HEALTHCARE

We anticipate that the pharmaceutical companies within our coverage will collectively demonstrate revenue growth of 8.1% YoY and 0.9% QoQ, along...

Axis Direct

New Year Picks 2025

At this juncture, we are delighted to unveil our New Year Picks for this year, curated to support and strengthen your investment journey in the...

Axis Direct

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