Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

Torrent Pharmaceuticals / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/torrent-pharmaceuticals-ltd" target="_blank" data-smartkarma-citation="entities:15762:1" rel="noopener">Torrent Pharmaceuticals (TRP IN)</a> reported 17% YoY increase in net profit to INR4.5B on  9% YoY growth in revenue to INR28.9B in Q2FY25. EBITDA margin expanded 150bps YoY to 32.5%.</li>
<li>Domestic market revenue increased 13% YoY to INR16B, led by outperformance in focus therapies aided by strong new launch performance. Torrent’s chronic business grew 14% versus IPM growth of 9%.</li>
<li>Torrent has been reporting improvement in EBITDA margin. Going ahead, the company expects 50–100bps annual margin improvement, driven by solid pricing power in the branded business and operating leverage.</li>
</ul>



Torrent Pharmaceuticals (TRP IN) reported 17% YoY increase in net profit to INR4.5B on  9% YoY growth in revenue to INR28.9B in Q2FY25. EBITDA margin expanded 150bps YoY to 32.5%.
Domestic market revenue increased 13% YoY to INR16B, led by outperformance in focus therapies aided by strong new launch performance. Torrent’s chronic business grew 14% versus IPM growth of 9%.
Torrent has been reporting improvement in EBITDA margin. Going ahead, the company expects 50–100bps annual margin improvement, driven by solid pricing power in the branded business and operating leverage.


Torrent Pharmaceuticals (TRP IN): Domestic Business Drives Q2 Result; Margin Expansion to Continue

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

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

Thematic (Sector/Industry)

<ul>
<li>PFC and BEML Sign MoU for Defence and Infrastructure Projects</li>
<li>Zee Entertainment Seeks Settlement with SEBI Over the Governance Issues</li>
<li>ONGC and BPCL Search for Global Partners to Build Greenfield Refineries</li>
</ul>


PFC and BEML Sign MoU for Defence and Infrastructure Projects
Zee Entertainment Seeks Settlement with SEBI Over the Governance Issues
ONGC and BPCL Search for Global Partners to Build Greenfield Refineries


# 66 India Insight: Power Finance & BEML MOU Zee Entertainment Governance Issue, ONGC & BPCL MOU

<ul>
<li>ICICI Bank and Zee Entertainment Stocks in Focus Amid SEBI Chief Allegations</li>
<li>Mankind Pharma to Raise INR 9,000 Crore Debt for Bharat Serums and Vaccines Acquisition</li>
<li>Vedanta Resources Plans $1.5 Billion Bond Issuance to Refinance Debt</li>
</ul>


ICICI Bank and Zee Entertainment Stocks in Focus Amid SEBI Chief Allegations
Mankind Pharma to Raise INR 9,000 Crore Debt for Bharat Serums and Vaccines Acquisition
Vedanta Resources Plans $1.5 Billion Bond Issuance to Refinance Debt


# 54 India Insight: TCS Partnered with Google, Vedanta Bond Issuance, Mankind Raise Debt

Zydus Lifesciences Ltd / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/zydus-lifesciences-ltd" target="_blank" data-smartkarma-citation="entities:12914:1" rel="noopener">Zydus Lifesciences Ltd (ZYDUSLIF IN)</a> reported stellar performance in Q1FY25, with all key parameters improved sequentially and YoY. The company achieved highest ever operating profit and margin during the quarter.</li>
<li>Sustained growth momentum across all the businesses along with enhanced profitability drove Q1FY25 performance. Execution success of differentiated pipeline in the U.S. and outperformance of India business were particularly noteworthy.</li>
<li>Despite delivering 21% YoY revenue growth in Q1FY25, Zydus reiterated FY25 revenue growth guidance of high teens. The company expects EBITDA margin of 28.5–29.0% for FY25.</li>
</ul>



Zydus Lifesciences Ltd (ZYDUSLIF IN) reported stellar performance in Q1FY25, with all key parameters improved sequentially and YoY. The company achieved highest ever operating profit and margin during the quarter.
Sustained growth momentum across all the businesses along with enhanced profitability drove Q1FY25 performance. Execution success of differentiated pipeline in the U.S. and outperformance of India business were particularly noteworthy.
Despite delivering 21% YoY revenue growth in Q1FY25, Zydus reiterated FY25 revenue growth guidance of high teens. The company expects EBITDA margin of 28.5–29.0% for FY25.


Zydus Lifesciences (ZYDUSLIF IN): Q1FY25 PAT Jumps 31%; Increasing Focus on US To Augur Well

<ul>
<li>Q1FY25 results of the leading Indian pharmaceutical companies showed healthy and broad-based growth of the Indian pharmaceutical market, which grew 8.7% in Q1FY25.</li>
<li>Most of the top listed players registered double-digit revenue growth from their respective India formulation segments. Focus on chronic therapies remained major growth driver.</li>
<li>The Nifty Pharma Index has outperformed the benchmark Nifty 50, rising 32% YTD. The benchmark index has gained just 13% over the same period.</li>
</ul>


Q1FY25 results of the leading Indian pharmaceutical companies showed healthy and broad-based growth of the Indian pharmaceutical market, which grew 8.7% in Q1FY25.
Most of the top listed players registered double-digit revenue growth from their respective India formulation segments. Focus on chronic therapies remained major growth driver.
The Nifty Pharma Index has outperformed the benchmark Nifty 50, rising 32% YTD. The benchmark index has gained just 13% over the same period.


Indian Pharmaceutical Market: On A Healthy Growth Path; Momentum to Continue in Rest of the Year

India

Mankind Pharma Limited is a pharmaceutical company. The Company focuses developing, manufacturing, and marketing a diverse range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products. Mankind Pharma serves customers in India.

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Mankind Pharma (MANKIND IN)

Torrent Pharmaceuticals (TRP IN): Domestic Business Drives Q2 Result; Margin Expansion to Continue

Torrent Pharmaceuticals reported 17% YoY increase in net profit on 9% YoY revenue growth and expanding EBITDA margin in Q2FY25. Going ahead, the...

Tina Banerjee

# 66 India Insight: Power Finance & BEML MOU Zee Entertainment Governance Issue, ONGC & BPCL MOU

Indian companies PFC, BEML, Zee Entertainment, ONGC, and BPCL are making strategic moves in defense, infrastructure, governance, and green energy...

Sudarshan Bhandari

# 54 India Insight: TCS Partnered with Google, Vedanta Bond Issuance, Mankind Raise Debt

Stocks of ICICI Bank and Zee Entertainment under scrutiny, Mankind Pharma to raise debt for acquisition, Vedanta Resources to issue bonds for debt...

Sudarshan Bhandari

Zydus Lifesciences (ZYDUSLIF IN): Q1FY25 PAT Jumps 31%; Increasing Focus on US To Augur Well

Zydus Lifesciences reports stellar Q1FY25 performance with highest ever operating profit and margin, driven by the US and India. The company...

Tina Banerjee

Indian Pharmaceutical Market: On A Healthy Growth Path; Momentum to Continue in Rest of the Year

Indian pharmaceutical market grew 8.7% in Q1FY25. Most of the top players reported double-digit revenue growth in domestic market. Nifty Pharma...

Tina Banerjee

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52-week Range

Market Cap (USDm)

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Torrent Pharmaceuticals (TRP IN): Domestic Business Drives Q2 Result; Margin Expansion to Continue

​Torrent Pharmaceuticals reported 17% YoY increase in net profit on 9% YoY revenue growth and expanding EBITDA margin in Q2FY25. Going ahead, the...

Tina Banerjee

# 66 India Insight: Power Finance & BEML MOU Zee Entertainment Governance Issue, ONGC & BPCL MOU

​Indian companies PFC, BEML, Zee Entertainment, ONGC, and BPCL are making strategic moves in defense, infrastructure, governance, and green energy...

Sudarshan Bhandari

# 54 India Insight: TCS Partnered with Google, Vedanta Bond Issuance, Mankind Raise Debt

​Stocks of ICICI Bank and Zee Entertainment under scrutiny, Mankind Pharma to raise debt for acquisition, Vedanta Resources to issue bonds for debt...

Sudarshan Bhandari

Zydus Lifesciences (ZYDUSLIF IN): Q1FY25 PAT Jumps 31%; Increasing Focus on US To Augur Well

​Zydus Lifesciences reports stellar Q1FY25 performance with highest ever operating profit and margin, driven by the US and India. The company...

Tina Banerjee

Indian Pharmaceutical Market: On A Healthy Growth Path; Momentum to Continue in Rest of the Year

​Indian pharmaceutical market grew 8.7% in Q1FY25. Most of the top players reported double-digit revenue growth in domestic market. Nifty Pharma...

Tina Banerjee

Torrent Pharmaceuticals reported 17% YoY increase in net profit on 9% YoY revenue growth and expanding EBITDA margin in Q2FY25. Going ahead, the...

Indian companies PFC, BEML, Zee Entertainment, ONGC, and BPCL are making strategic moves in defense, infrastructure, governance, and green energy...

Stocks of ICICI Bank and Zee Entertainment under scrutiny, Mankind Pharma to raise debt for acquisition, Vedanta Resources to issue bonds for debt...

Zydus Lifesciences reports stellar Q1FY25 performance with highest ever operating profit and margin, driven by the US and India. The company...

Indian pharmaceutical market grew 8.7% in Q1FY25. Most of the top players reported double-digit revenue growth in domestic market. Nifty Pharma...