Results preview: Pharma sales may be up 9-10% in Q2 on robust domestic biz

Domestic business and exports are expected to be a shot in the arm; hospitals and diagnostics to lag

Pharmaceutical revenues and earnings are likely to grow by 9-10 per cent year-on-year (Y-o-Y) in Q2FY26, riding on sustained domestic business as well as high single digit US market growth, despite price erosion in key cancer drug Revlimid.

 

Nuvama analysts forecast revenue and profit after tax growth of 9 per cent and 10 per cent, respectively Y-o-Y, and 3 per cent and 2 per cent, respectively quarter-on-quarter (Q-o-Q). 

Domestic business is expected to grow at 10 per cent during the quarter, with Ajanta Pharma, Alkem likely to outperform peers. However, GST rate cuts may cause some working capital issues due