Results preview: Pharma firms stare at muted earnings growth for Q1

Hospitals have a steady quarter with occupancies rising 100 bps

The Indian pharmaceutical industry is set to report a muted earnings performance for the first quarter of the financial year 2026 (Q1FY26), largely due to sliding sales of blockbuster generic cancer drug Revlimid coupled with moderated growth in the domestic formulations sales.

 

Analysts estimate year-on-year (Y-o-Y) revenue growth of 9 per cent with a profit after tax (PAT) growth in the range of 3-4 per cent.

 

Stable pricing scenario in the US generics market and rupee depreciation is expected to drive double digit revenue growth.

 

Nuvama analysts said that the US sales will post a modest 1 per cent Y-o-Y