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ICICI Securities Earnings Preview: Pharma, Healthcare Likely To See Sequential Growth In Q2  

ICICI Securities: Pharma And Healthcare Sector Q2 Earnings Preview - Visible Recovery From Covid-19 Outbreak Impact



Tablets of multiple vitamin and minerals supplement are arranged for a photograph in Tokyo, Japan. (Photographer: Kiyoshi Ota/Bloomberg)
Tablets of multiple vitamin and minerals supplement are arranged for a photograph in Tokyo, Japan. (Photographer: Kiyoshi Ota/Bloomberg)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

We expect pharma and healthcare companies under our coverage to report sequential improvement during the quarter ended September 2020.

We expect easing of lockdown to support some recovery in acute portfolio and injectable products.

U.S. revenues may witness marginal growth sequentially, led by improvement in volumes of injectables, specialty portfolio and new launches.

We estimate India business to report marginal growth as seen in secondary sales data.

We forecast the Ebitda margin of covered companies at approximately 20% (up 70 basis points YoY), led by revenue growth and cost-control measures.

Hospitals and diagnostic centres can report significant recovery QoQ with a rise in occupancy levels and pathology test volumes.

Overall, we expect our coverage universe to report approximately 5% revenue growth.

Click on the attachment to read the full report:

ICICI Securities Q2FY21 Pharma Healthcare Preview.pdf

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