External broker reports(aggregated public sources), Axis Direct

Axis Direct

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

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank 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 Health care / Thematic (Sector/Industry)

<ul><li>Pharmaceuticals: We expect pharmaceutical companies under our coverage to deliver a subdued performance in Q3FY26, with aggregate revenue rising 6% YoY but declining 3% QoQ to Rs 36,683 Cr.</li><li>EBITDA is estimated to decline 1% YoY and 9.4% QoQ to Rs 8,297 Cr, while adjusted PAT is likely to shrink 7.6% YoY and 13.9% sequentially to Rs 5,014 Cr.</li><li>Sector operating margins are expected to settle at ~22.4%, primarily impacted by the sharp earnings normalisation of the superprofitable drug gRevlimid.</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>

Pharmaceuticals: We expect pharmaceutical companies under our coverage to deliver a subdued performance in Q3FY26, with aggregate revenue rising 6% YoY but declining 3% QoQ to Rs 36,683 Cr.EBITDA is estimated to decline 1% YoY and 9.4% QoQ to Rs 8,297 Cr, while adjusted PAT is likely to shrink 7.6% YoY and 13.9% sequentially to Rs 5,014 Cr.Sector operating margins are expected to settle at ~22.4%, primarily impacted by the sharp earnings normalisation of the superprofitable drug gRevlimid.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.

Q3FY26 Earnings Preview - Pharma and Healthcare