External broker reports(aggregated public sources), HDFC Securities

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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)

India Financials / Thematic (Sector/Industry)

<ul><li>Lupin: EBITDA was up 30% YoY, led by 11% YoY sales growth (US: +4% QoQ, India +7% YoY) and higher GM (+197 bps YoY), which was partly offset by higher staff/R&amp;D/SG&amp;A (+11/26/8%)</li><li>LPC expects (1) the US to see steady growth in FY26 and sales rate may improve to ~USD 250+ mn in FY26, led by traction in Tolvaptan (launched in May’25) and injectables (Glucagon, Liraglutide, Respirodon) in H2FY26, steady traction in gSpiriva and gMyrbetriq, which will offset the sales erosion in Albuterol, (2) India to see double-digit-growth in FY26 and aims to beat IPM growth by 1.2-1.3x over the next few years, led by new launches/in-licensing, traction in focused therapies, scale-up in emerging therapies (gastro, VMN, CNS, and oncology), and MR addition (~10,400 in FY25 and to add 400-500 in FY26), (3) EBITDA margin to expand by 100 bps in FY26 (~24.1% in FY25), and (4) R&amp;D see YoY growth in FY26 (towards niche pipeline respiratory, biosimilars, and injectable)</li><li>The company aims to scale up its specialty business over the next 3-5 years with key focus areas in respiratory and injectables, it looks to leverage its existing specialty products (Xopenex, NaMuscla, and Luforbec) for global markets</li></ul><p><em>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.</em></p>

Lupin: EBITDA was up 30% YoY, led by 11% YoY sales growth (US: +4% QoQ, India +7% YoY) and higher GM (+197 bps YoY), which was partly offset by higher staff/R&amp;D/SG&amp;A (+11/26/8%)LPC expects (1) the US to see steady growth in FY26 and sales rate may improve to ~USD 250+ mn in FY26, led by traction in Tolvaptan (launched in May’25) and injectables (Glucagon, Liraglutide, Respirodon) in H2FY26, steady traction in gSpiriva and gMyrbetriq, which will offset the sales erosion in Albuterol, (2) India to see double-digit-growth in FY26 and aims to beat IPM growth by 1.2-1.3x over the next few years, led by new launches/in-licensing, traction in focused therapies, scale-up in emerging therapies (gastro, VMN, CNS, and oncology), and MR addition (~10,400 in FY25 and to add 400-500 in FY26), (3) EBITDA margin to expand by 100 bps in FY26 (~24.1% in FY25), and (4) R&amp;D see YoY growth in FY26 (towards niche pipeline respiratory, biosimilars, and injectable)The company aims to scale up its specialty business over the next 3-5 years with key focus areas in respiratory and injectables, it looks to leverage its existing specialty products (Xopenex, NaMuscla, and Luforbec) for global marketsContent 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.

Crompton Greaves Consumer Electricals (CROMPTON IN)

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